RecordsKeeper Token Distribution Cancellation Announcement

RecordsKeeper Token Sale has been cancelled due to minimal funds raised till now. Since only a few days are left, it is highly unlikely we will be able to reach soft cap.
Therefore, we will be refunding all the contributions received till now. Contributors will receive the exact amount they transferred, and we will bear transaction fees or gas cost. Even though the sale is cancelled, we will be distributing Airdrop and Bounty tokens as people have worked hard for it. Here is the Airdrop and Bounty distribution list.
Till now we have raised 0.0035 Bitcoin and 0.8342 Ether only.

Why are we cancelling the Token sale?

There are many reasons which led to the cancellation of the token sale.
Firstly, we were unable to find a good marketing partner. We relied on the fact that product speaks for itself, but we were wrong. A good product is absolutely necessary, but the importance of reaching out to people is equally important.
Secondly, the 80-90% drop in prices of cryptocurrencies has negatively impacted our chances of a successful token sale. Even though the equivalent USD price of Bitcoin is low, people prefer to hold so that they can recover their losses.
Lastly, negative sentiment in the market, a flood of ICO scams have made it difficult for us to stand out from the rest of the crowd.

Can people still develop apps using RecordsKeeper?

Yes. Since RecordsKeeper blockchain is a public Blockchain it will keep running as it is without any change. This RecordsKeeper Public Blockchain can still be used to build, & develop the applications for Data Security & Record Keeping. Please refer to RecordsKeeper documentation for more details.

So, what next?

We will also like to make it clear that even though the Token sale is cancelled, we will keep working on RecordsKeeper Blockchain, add new features and work on its adoption across industries. We might look for venture capital funds if the need arises.

Finding work in Blockchain Space

As Blockchain technology is evolving while infiltrating various sectors to optimise business processes, the career prospects in the Blockchain sphere are excellent. Demand for certified individuals in Blockchain has continued to grow exponentially. The Blockchain related skills are second fastest growing skill out of more than 5000 skills in today’s labour market. On an average Blockchain Developer in the US makes around $158,000 per year compared to general software developers who make $105,000 per year.

Job posts in Blockchain sphere have increased by four times on LinkedIn in 2018, and vacancies are being filled in no time. As great as that sounds for the industry, there are not enough qualified individuals in Blockchain sphere to fill the positions. As far as certified individuals are concerned, currently there is a supply and demand gap in the Blockchain domain. In fact, in the US, a recent study showed that there is only one Blockchain Developer for every 14 jobs advertised.

There are various job roles in Blockchain Technology which are in high demand. Individuals can aim for positions as:

Blockchain Developer

It requires individuals to be good at server side programming and have excellent analytical skills. Understanding the end to end system of a Blockchain application is required. Requires in-depth knowledge of setting up nodes, submitting a Blockchain transaction and triggering Smart Contract functions from a web page.

Blockchain Expert

Blockchain Experts have an in-depth understanding of the Blockchain Technology. It requires knowledge as well as the ability to code for a  Blockchain like Bitcoin, Ethereum networks. As a Blockchain Expert individuals are required to build blockchain-based applications for businesses. Being a Blockchain Expert individuals should have exposure of all the various aspects of Blockchain Technology.

Blockchain Generalist

Individuals are required to have the understanding of the basic concepts and capability to understand, discuss and analyse its use-cases and applications in their ecosystem.

Smart Contract Developer

It requires the understanding of smart contract and excellent programming skills to write code for smart contracts.

A career in Blockchain is quite rewarding for various reasons such as:

Ample opportunities across top MNCs

Top Multinational companies across the globe such as IBM, Microsoft, Intel, JP Morgan Chase are exploring various applications of Blockchain Technology based on the impressive features of this breakthrough technology. These MNCs are recruiting certified Blockchain Developers in large numbers. It is expected that these corporations will require Blockchain professionals in bulk in coming years.

The Hype of Cryptocurrency

Cryptocurrency is quickly gaining acceptance throughout the world. This acceptance of cryptocurrency has led to Bitcoin exchanges and wallets to crop up. The demand for certified individuals in cryptocurrency such as ethereum and bitcoin is soaring.

There are certain prerequisites to start a career in the Blockchain sphere such as :

Get Certified

Getting certified in the Blockchain sphere gives you a competitive edge and wins the trust of companies in your credibility for the job. There are excellent certifications on various specific job roles of Blockchain available online.

Master the platforms, languages and principles of Blockchain systems

For a successful career in Blockchain, one needs to understand technology inside out. Professionals aspiring to work in the Blockchain sphere should gain a deep understanding of Ethereum, Hyperledger, Ripple,  R3 Corda, and hands On experience in the Blockchain programming language. Solidity is also a prerequisite for most of the job roles in the Blockchain sphere.

Develop your skills by taking parts in various Hackathons

Individuals need to develop their skills in Blockchain to be able to have a successful career in Blockchain. Individuals should do projects and contribute to open-sourced Blockchains (Bitcoin) to refine their skills and at the same time showing their competence. Being proactive by Joining discussions within forums and online platforms, sharing code and building on what you already know in development goes a long way when it comes to preparing for a rewarding career in the Blockchain. Individuals should never stop learning and exploring new ideas and implementing them whenever they get a chance.

Conclusion

Blockchain sphere is full of opportunities at this point and the requirement for skilled individuals will only keep on growing. The key to a successful career in Blockchain domain lies in sharpening your skills and updating your knowledge with time. With the right skill set sky’s the limit for you.

RecordsKeeper – A Global Distributed Storage System

RecordsKeeper is an open-source, public database leveraging Blockchain Technology. It is a platform offering record keeping with impressive features such as data immutability, data integrity, data authenticity, and data verifiability. RecordsKeeper stores information in the form of key-value pairs in a very structured manner with query-able storage over the Blockchain network. Inheriting the core features of Blockchain Technology. RecordsKeeper provides secure transfer, authorisation, integrity, and authenticity of data.

RecordsKeeper an immutable, integrated global data repository.

RecordsKeeper was developed with a vision to create a robust and secure ecosystem for data sharing and verification, accessible to anyone globally.

RecordsKeeper provides many open-source libraries and APIs for publishing the records on RecordsKeeper blockchain through programming, backend services, mobile, desktop apps and many other. Once a record is uploaded, a condensed hash of records with metadata is pushed into the RecordsKeeper ledger whereas the actual data can be pushed to the encrypted storage layer. After the initial storage of data, any alteration results in a different hash with its immutable traces stored in the blockchain. Thus making it a fraud-proof recordkeeping system. With SHA-256 a hashing client can verify the authenticity of the data any time he wants.

Why should you consider RecordsKeeper?

  • RecordsKeeper serves as an excellent platform for storing, updating and verifying records securely. It provides a fraud-free and robust system while eliminating the third party role for any verification purpose. The data stored can be shared with other parties with the help of transactions.

  • RecordsKeeper lets you push 10MB of immutable data per transaction using XRK tokens.

  • It is a highly secure and completely open source system and lets you focus on your application without any need to understand internal architecture.

  • RecordsKeeper fixes you up with a running application within a day. You can always integrate it with other businesses for external use.

  • Several outstanding features of Recordskeeper makes it idle for data storage and sharing. It allows anyone to verify the records by entitling the person with read-only access without involving you.

XRK tokens-RecordsKeeper’s very own cryptocurrency

XRK tokens act as fuel for RecordsKeeper network. XRK token is charged to users as an upload fee that inturns miners earn from the recordskeeper network, resulting in a win-win situation for everyone including the XRK holder, user and miner. Currently, the upload fees are 0.1 XRK/KB. If you require to load 1MB of data, you will be required to pay 100 XRK tokens.

Miners are added only by the admin to the community. After the initial setup phase until block number 4204800, the mining community is open for everyone. However, the mining diversity is kept under control to the factor 0.2. Mining factor 0.2 means that if there are 100 miners in the community and a miner mines a new block, he/she will have to wait for 20 blocks to be mined before he/she can mine another one. Therefore miners can not mine continuous series of blocks, and thus they are kept under controlled to overpower the blockchain system and performing any fraudulent activity.

At the time of joining miners get rewarded 10000 XRK coins additional annual rewards are given for supporting and promoting the community. RecordsKeeper Blockchain is adding 10 XRK every 15 seconds through token mining. RecordsKeeper ecosystem currently has over 300 million premined XRK tokens, and the count is rising expeditiously.

XRK Light Wallet

RecordsKeeper offers an XRK light wallet enabling users to create, store and receive records on the RecordsKeeper Blockchain. Some of the Incredible features that are incorporated in XRK wallet are the data that can be retrieved when required as transactions and are stored in memory on disk in a suitable format. No full wallet scan are needed as transactions are indexed by specific criteria and transaction bigger than the size of  256 bytes are not stored in the wallet, instead, the wallet a pointer to the metadata stored in the recordkeeper blockchain.

What clients say about RecordsKeeper

Mark Dorsey from Austin, Texas says “Recordskeeper has made our lives easier. Now with one shared permanent record on the blockchain, there is no need of duplication elsewhere. It has also accelerated the regulatory review as reconciliation is no longer needed. It is really easy to update, share and verify records without worrying about any Fraud. Kudos to Recordskeeper for providing such a reliable platform for our regulatory compliances application. ”

Also, Samantha Pritchett says “ RecordsKeeper has proved to be a boon for monitoring, updating and storing the data of the supply chain for our company. It is quite reliable and has lifted the burden of such huge recordkeeping tasks from our shoulders. It seamlessly records the quantity and transfer of assets as they move between supply chain nodes, Tracks purchase orders, changes orders, receipts, shipment notifications, or other trade-related documents. Choosing RecordsKeeper is one of the best decision taken so far. Thanks!”

Scams on Blockchain and How to Outsmart Them

Last year, Blockchain came into the spotlight. The potential of the blockchain investor excited a general investor about the future. Unfortunately, every time something pathbreaking (like blockchain) comes into the picture, there are always con artists waiting for their next opportunity to scam the innocents.

Understanding the most common types of scam on Blockchain is essential to ensure that consumers don’t fall prey to tricksters. Most scams have clear warning signs, and just by being aware investments can be protected.

Below we talk about some of the common scams plaguing the blockchain, and ways to outsmart them.

Is your Hardware Wallet safe?

Most people agree that hardware wallet for storing cryptocurrency is enhanced security and privacy. However, if a consumer is not careful about purchasing the wallet from a trusted source — there can be potential vulnerabilities. Hackers can pre-built specific hacking algorithms into the hardware wallet. This opens up the wallet to hackers, and they can easily steal the cryptocurrencies. This type of scam is becoming more and more common. However, you can avoid it by purchasing a wallet from only a trusted and verifiable source.

Scams on Exchanges

Ironically, despite cryptocurrencies inbuilt decentralized nature, most of them are traded over exchanges. Most exchanges make lives of consumers easy by giving access to multiple cryptocurrencies at one place. The fact of the matter is also that governments do not govern most of these exchanges in most countries. Thus, the potential for scam multiplies if the consumer is not careful. It takes no complex algorithms to spot exchange scams. However, if you overlook the visible red flags — then you’re in for big trouble. The most common way to spot a scam is when an exchange is offering a massive discount on one or more than one cryptocurrency. This technique is usually a trap to lure everyday investor. Another way to confirm whether an exchange is authentic or not is by looking at its URLs certification and undertaking research.

Scams through ICO’s

Along with the word ‘Bitcoin’ and ‘Blockchain’, investors have also been hearing the term ‘ICO’. ICO stands for the initial coin offering. Through ICO,  companies can raise capital for their unique ideas and projects. The popularity, however, also gives rise to people and organizations looking to cheat first-time investors. One way in which ICO scams take place is through the creation of fake websites for users to deposit coins. The bigger scams under ICO, however, take place when a group of people come together to create an organization to scam. There have been several cases like that in 2017 and before. As a rule of thumb, you should not invest in an ICO until you’ve done significant research about the organization. Don’t forget to give a thorough read to their white paper along with reading up on their team and other investors.

Fake Schemes Concerning Cloud Mining

A lot of companies these days are coming up with schemes that give outstanding returns once you rent a server to mine any cryptocurrency. Since the mining activity is unique and is known to be resource-intensive, the difficulty of mining cryptocurrency is significantly high. Most of these companies make fake bold claims about returns to scam the general public. Some even operate as a ponzi scheme right from the start. Before associating with mining cryptocurrency as an activity, it’s paramount to do intensive research.

Conclusion:

Blockchain and cryptocurrencies have a long way to go, and their potential is just being realized. As the days pass, both transparency and security in Blockchain are bound to be better. All investors should be aware of the common scams on the blockchain and the ways to avoid them.

Trusting Blockchain exchange

With every passing week, the world’s interest in Cryptocurrencies is multiplying at a staggering rate. Whether it’s bitcoin, ether, or any any other cryptocurrency on the block – people around the world own and trade cryptocurrencies. To make the trading accessible to the general public, we’ve several cryptocurrency exchanges on the world wide web. Through these exchanges, anyone can buy, sell, or exchange cryptocurrencies either with other digital-based currencies or with traditional currency such as rupee or US dollar.

Types of Exchanges

There are three categories of cryptocurrency exchanges. They’re as follows:

Brokers – Through these brokers, anyone can go and buy the desired cryptocurrency at a preset price. Most of these cryptocurrency brokers are similar in function as foreign currency exchanges.

Platforms for Trading – These platforms specialize in connecting buyers and sellers. For every transaction that takes place through the platform, they charge a fee — which is also how they make money.

Direct Trading – The way direct trading differs from the other two is that there’s no fixed price. The seller decides the amount, and the buyers have to determine if they want to buy or negotiate for any particular cryptocurrency. Direct trading is usually peer-to-peer.

What are the key attributes to look at while deciding to Trust a blockchain exchange?

The meteoric rise of bitcoin has also contributed to a significant increase in con-artists and exchanges which are mostly scams. So, before you decide to put your hard-earned money to buy cryptocurrencies — it is crucial to do your research. Below are the three things to know about an exchange before trusting them.

Reputation: In the age of the Internet, it’s not too hard to find reputable reviews about anything — including blockchain exchanges. Right from forums to commercially reviewed websites, you’ll find loads of information that’ll make it easier for you to decide whether an exchange is a right fit for you or not.

Fees: Before you even think about joining an exchange, do make sure you’re well-aware of all forms of costs that the exchange charges. The fee-model should include comprehensive details regarding withdrawal, deposit, as well as transactional fees. Compare it with other exchanges and then make an informed decision.

Verification systems: Any exchange worth its salt will have strong fortification in the form user verifications and securities. While the exhaustiveness of the verification might seem annoying while registering, it’ll protect your cryptocurrency and money from all sorts of scams.

Some well-known and reputable exchanges

We’ll make it even easier for you. Based on our research and user reviews, we’re going to tell you our favorite two blockchain exchanges that you can trust without worry.

Coinsquare: The first thing you should know about coinsquare is that it’s built on the same technology as the New York Stock Exchange. Yes, that’s right. According to their website, they manage their ledger at least 2346 times in a single day to ensure security. Reputable and secured, Coinsquare is a popular choice for both crypto-veterans and beginners alike.

Coinbase: Not only is Coinbase backed by some of the world’s best investors, but it’s also trusted as an exchange by millions already. One of the key features of coinbase is that coinbase insurance covers the stored currency. So, there’s that added layer of security. There’s a digital wallet also available as a mobile platform through which users purchase bitcoin, ether, and even litecoin.

Discovering Blockchain Loopholes

There’s no doubt on the potential that the blockchain technology has to offer. The world has accepted it at large. Blockchain developers are solving multiple problems across industries with this technology.

But there’s another side to the story wherein the hype is shadowing real implementation issues with the blockchain. These issues hinder the mass-adoption of this world-changing technology.

There’s no doubt that we’ll eventually get to the point wherein we’ve explored this great technology. However, to be able to that it’s essential to face realities both as developers and enthusiasts of the blockchain.  

Below we’ll be mentioning four implementation issues that plague blockchain as of today.

Limited Scalability –

One of the key advantages of the blockchain technology is decentralization. However, it comes at the cost scalability. As the number of transactions increase (and since every transaction passes through each block), the requirement increases too. Eventually, it’s not possible for every node to participate and the resources to process each block then rests with a limited few. However, that potentially compromises on the decentralization aspect of the blockchain. Scalability is probably the number one barrier when it comes to blockchain adaptability.


Storage Constraints –

Almost every application that’s built on the blockchain will require some form of storage. It can be either to store user identities, or it can be to record specific financial as well legal data. However, by property traits, every node stores the data. Along with it, no data will be able to be removed regardless of whether it’s needed or not. The above two cases put a considerable cost to the storage operation when it comes to the blockchain. Thus, storage constraint is a massive hurdle for any application to be able to build on the blockchain.


Lack of standards and governance –

No central authority governs public blockchain. While that’s great to build a trustless and open, it has its disadvantages. First, one is that there’s no who’s responsible for maintaining and upgrading the systems most efficiently. Even if some developers band up to create an organization, it leads to some form of centralization (take the instance of the Ethereum foundation.) However, we can’t even leave it completely open as over the years it’s proven ineffective on multiple levels.


Poverty in Available Tooling –

For any developer to work effectively and efficiently, the first requirement is adequate tooling. If inadequate, the developers can’t do much even with the best of the intentions. As a matter of factor, the currently available pool of tooling is not good enough, even for the most seasoned of the developers. Right from good testing frameworks to security auditing and even right blockchain analytical tool — the available tooling to a blockchain developer is severely limited. Along with hindering the potential of the technology, it also demotivates enthusiasts.

Conclusion:

Unfortunately, the hype makes blockchain appear invincible when the fact is that there’s a lot of work left. So, instead of making the technology glamorous, we need to focus on how to solve core implementation issues with the blockchain.

There’s not even an iota of doubt that blockchain is here to stay. However, the issues mentioned above and many more are not letting the technology become mainstream. It’s on us now — the developers, the investors, the blockchain enthusiasts — to work towards a unified vision.

Storage Price Comparison of RecordsKeeper (XRK) with other major Blockchains

Blockchain Databases are the completely different models from the cloud storages like AWS S3, Dropbox etc. or Blockchain Storages like Storj, Filecoin etc. The cloud storages require you to pay a certain amount of payment on a monthly basis and if you don’t pay the fees, your data is not retained over the vendor end. The Blockchain storages are based on one-time payment where you can store your data for the indefinite amount of time. The storage costs over the Blockchain has to be paid upfront and should be available for years to come. Please note that such Blockchain storages are not query-able without the transaction id. On the other hand, Blockchain Databases are the databases which may behave like a storage as well as data objects remain query-able using some formats like the key or other similar formats.

RecordsKeeper has developed an efficient and sustainable data storage (aka key-value pair based database) over Blockchain for a long period of time. RecordsKeeper Blockchain-centric solution is built to store, share and manage your information or data objects in the safest fashion. Once your data is over the RecordsKeeper Blockchain, it cannot be deleted, tampered or modified even by the data owner. On top of that RecordsKeeper provide data storage with as minute cost as possible as compared to other Blockchains available in the market.

Let’s look into the cost estimates of different Blockchains and how RecordsKeeper is fair against them in terms of price:

RecordsKeeper

Data Upload on RecordsKeeper is established through XRK tokens. Currently, the price of XRK tokens is 1 Ether = 5,000 XRK tokens. With the current price of BTC that comes out to be:

1 XRK =$ 0.0894 USD

1024 bytes/1 KiloByte of data requires 0.1 XRK as fees, converting the same to USD 1 KiloByte of data requires $ 0.00894 USD

Bitcoin

Bitcoin Blockchain was not designed to store data but still many corporations and users have utilised the Bitcoin Blockchain to store permanent records. To store permanent records over Bitcoin you need to use OP_RETURN transactions which in turns specifies that you cannot spend the transaction once it’s OP_RETURN. As per the Bitcoin specifications, OP_RETURN is of size 80 bytes. Thus to store 1 KiloByte of data you require:

1024/80 = 12.9 ~~ 13 transactions

To be a valid transaction in the Bitcoin Blockchain a transaction requires a dust fee which is approximately 546 satoshis, with the current price of the Bitcoin($ 7997) the dust fees would be around:

0.00000546*7,977 = $ 0.044

On top of the dust fees Bitcoin also has transaction fees. As per 15th April, 2018 median Bitcoin transaction fees is $ 0.251

So the cost for uploading 1 KB over the Bitcoin Blockchain would be:

13.(0.044 + 0.251) = $ 3.835 USD

Ethereum

Ethereum Blockchain works differently from the Bitcoin Blockchain. You need to specify gas to send and store transactions over the Ethereum Blockchain. The minimum gas required for a transaction to broadcast over the Ethereum network is 21,000. As per the Ethereum whitepaper to send the data in 32 bytes chunk it requires gas. If the data is all zeros then it requires 4 gas for 32 bytes and if the data contains some text or string then it requires 68 gas for 32 bytes of data. Let’s look into the very basic and minimum data with all zeros. As per the whitepaper it requires 4 gas for 32 bytes for zeroed data.

For 1024 bytes of data it was 32 chunks of 32 bytes. So we require in total gas:

32*4 = 128 gas

Now storing the sent data over Ethereum Blockchain requires 20,000 gas for every 32-byte word. To store 1 KiloByte/1024 bytes of data it will require:

32*20000 = 640000 gas

Adding both the gas. In total to store and send 1 KiloByte of zeroed data we require:

640000+128 = 640128 gas

Taking into the account the current average gas price (11.89 Gwei) and the current rate of 1 ether ($ 507.386997). The transaction will cost you:

640128 * 0.00000001189 * 507.386997 = $ 3.86 USD

This value is only for sending and storing over the Ethereum Blockchain. The cost overhead is increased when you need to develop, audit and deploy the Smart Contract to do the same.

Neo

Neo Blockchain has a complete different mechanism for storing the data over the Blockchain. Currently for Neo, there is no transaction fees required for sending but user can opt to pay the transaction fees for priority in Blockchain, we will take up the minimum cost, such that no transaction fees is provided in sending the data over Neo Blockchain but for storing the data it requires 1 gas for 1 KiloByte of data.

The current price for gas is $19.38 USD, thus 1 KiloByte of data will require:

1*19.38 = $ 19.38 USD

This value is only for sending and storing over the Neo Blockchain. The cost overhead is increased when you need to develop, audit and deploy the Smart Contract to do the same.

EOS

As per the EOS white paper, EOS works with state storage capacity so if you own 1% of the tokens then the software will allocate 1% of the available storage capacity of the blockchain to you. For example If there are 1 billion tokens and 1 terabyte (TB) of storage then each kilobyte (1024 bytes) of storage would cost about 1 token. At a $3 billion dollar market cap that would be around $3 per kilobyte. If the tokens reach the market cap of Ethereum then it would could be $30 per kilobyte.

Price Chart for storing data over different Blockchains*:

Size RecordsKeeper Bitcoin Ethereum Neo EOS
1 KiloByte $ 0.00894 USD $ 3.835 USD $ 3.86 USD $ 19.38 USD $3 USD
1 MegaByte $ 8.94 USD $ 3866.86 USD $ 3954.49 USD $ 19742.72 USD $ 3072 USD

* Based on USD price on 15 April, 2018

POI vs POW vs POS

Being involved in the world of blockchain and cryptocurrency means that you’ll regularly come across algorithmic terms. Primarily, there are three types of algorithms used for cryptocurrency projects:
  • POW (Proof-of-Work)
  • POS (Proof-of-Stake)
  • POI (Proof-of-Importance)
While deciding for whether to invest in a cryptocurrency project or not, one of the decisive factors to consider should be the algorithm it’s based on. Below we’ll be mentioning the critical pointers of each of these terms along with what separates one from the other.

Proof-of-Work (POW)

Satoshi Nakamoto, the creator of Bitcoin, pioneered the Proof-of-Work as a mechanism. After which many cryptocurrencies, including Ethereum, based their network on the same algorithm. The computers involved in maintaining the security of the network work to solve a mathematical puzzle known as a hash. Although the task is quite straightforward for a computer, it’s intensely repetitive. Thus, it requires exceptional computation power. Therefore, proving that they’ve done the necessary ‘work’ to register a data block into the network.  In the recent years, the POW algorithm has been criticised because of the high initial investment and the environmental cost attached to it. The POW, theoretically, is also prone to what is known as the 51% attack. It’s a situation wherein a miner controls more 51% of the computational power of a network and thus can change the data within each block.

Proof-of-Stake (POS)

The tremendous amount of computational power required makes POW both expensive and energy-intensive. An alternative algorithm — Proof-of-Stake — has gained popularity in the recent years. Unlike POW, the POS approach requires no specialized hardware in-order to participate in the network. POS takes the path of letting the coin stake of a particular user determine the likelihood of them adding the next block of transactions to the blockchain. To influence the network fraudulently, a person will have to own 50 percent of the coins on the network. An attempt to buy such an amount will exorbitantly push the price up; thus rendering the entire effort futile. NxT pioneered the POS system. Nowadays, this algorithmic approach is often used by crowdsale-funded platforms, wherein tokens are distributed based on investments made.

Proof-of-Importance (POI)

With POI, the dependency is neither on the amount of ‘work’ nor the amount of ‘stake’ you hold. POI, as an algorithm, takes a more holistic approach to considering the overall productivity of a user in the network. The reward, as per POI approach, should be based on the contribution of a user to the network in all capacities. The staking of the block, therefore, is based on multiple factors including reputation, overall balance, and the number of transactions done through or from a particular address. Through these factors, the network determines how ‘useful’ the member is to the network. NEM was the first cryptocurrency project to implement POI as an algorithm to its platform. Increasingly, people are finding ways and combinations of both POS and POW with POI to create an algorithm that makes it tremendously expensive to attack the network but rewards those who protect it generously.

Press Release: RecordsKeeper – An Open Public Ecosystem for Record Keeping & Data Security

Last few years turned the spotlight onto the Blockchain Technology, and the rest, as they say, is history in the making. Right from basics, everyday financial decisions to unprecedented social and economic impact, we believe that Blockchain has what it takes to change how the world functions.

However, experts believe that the full potential of the incredible Blockchain Technology isn’t yet explored. With every passing day, new use-cases are emerging for Blockchain Technology. Every industry is solving old-age problems or making the entire system more efficient with the help of the Blockchain. But the surface has barely been scratched when it comes to the massive impact.

With the same belief, we are happy to announce, RecordsKeeper – an Open Public Ecosystem (with Mine-able Blockchain) for Record Keeping & Data Security.

Founded by Toshendra Sharma & Rohendra Singh in the November of 2016, RecordsKeeper platform is built to store, share, and manage data-objects safely in the form of a key-value pair with each Blockchain transaction. The ecosystem is fueled by “XRK” tokens which are used to pay the transaction fees based of record size for every record published and is being collected by the miners as a reward for their efforts to conform the transaction over Blockchain using proof-of-work consensus.

The RecordsKeeper’s Private Blockchain can also be set up in any local infrastructure or cloud. Alternatively, users can directly use RecordsKeeper’s Public Blockchain which is maintained by hundreds of miners already and more are joining this mining pool every day. RecordsKeeper consists of passionate developers, marketers, and Blockchain-specialists who believe in what the platform offer to the world at large.

RecordsKeeper Blockchain solution for record keeping and data security

Since the platform is based on the Blockchain Technology, which also powers Bitcoin & Other Cryptocurrencies, the data stored on it cannot be deleted, tampered, or edited in any form by anyone including the owner of the Data. This decentralized outlook on how data stored is what makes RecordsKeeper a powerful platform.

Records published on RecordsKeeper are:

  • Immutable in nature
  • Verifiable without any trusted third party
  • Private, if encrypted before publishing
  • Authentic, cannot be created for old dates
  • Non-repudiable, once published cannot be denied

Several use-cases for the RecordsKeeper emerges due to fundamental nature of query-able key-value pair based storage system. Some of them are:

Check out the RecordsKeeper Tools & Resources at below links:

RecordsKeeper’s public ledger also offers unlimited storage of data along with encrypted storage. By sending a transaction, this data can be shared with the interested parties. Due to the immutability of this public database, it can be used by millions of users to share and store records in verifiable formats.

As of today, a new block of data is being created every 15 seconds which can be maximum of 8MB with permission Proof-of-Work Consensus. And, for the RecordsKeeper’s team, this is just a beginning.

In case of any query, please reach out to us at [email protected].

How RecordsKeeper Blockchain Can Help in Preventing CBSE Exam Leak

Recently we came across a major story about the CBSE paper leak from various sources. Those who had access to the exam papers charged Rs. 35,000 per paper and even some parents took part in it by reselling the papers to others to cover their cost. Thus the leaked papers were available upto Rs. 5,000.

This caused a huge uproar among the students which led to a re-examination. The current investigation is currently focusing on the role of CBSE officials, invigilators and school staff, coaching centres and printers. The leaked Economics paper was being circulated on social media for several hours before the test started on Monday. The Delhi government also reported that it received complaints from the CBSE about the Class 12 Accountancy paper being leaked too.

The past months saw many downs for the education system in India and challenged the way we share information in our country. This whole fiasco could had been resolved if the education system was driven by the power of Cryptography and Blockchain. We at RecordsKeeper thrives on latest technology and the power of Blockchain. This specific use case is the prime example of where RecordsKeeper comes into play and provide the utmost security in the shared information world.

RecordsKeeper: What is it?

RecordsKeeper is an open source platform for open record keeping & data security. Using RecordsKeeper’s public Blockchain anyone can publish a key-value pair of records which are immutable & verifiable.

Let’s discuss some of the major problems and how RecordsKeeper can solve them with respect to the CBSE paper leak.

  • Multiple mediums present for the exam paper

Currently the CBSE paper is presented in multiple mediums which gives a person with authority to take it out and sell over the black market without being noticed. Using RecordsKeeper as the storing medium for the exam papers, it limits the exam paper presence on multiple mediums. Once the exam paper is over RecordsKeeper Blockchain then there is only one single medium of shared ledger available.

  • Hacking of central storage

If the CBSE exam is shared over some relational Database or central storage then there is always a possibility of a malicious attacker trying to access the information or Denial-of-Service (aka DoS) attack but with the use of RecordsKeeper Blockchain we can provide immutability and security for the same. Once the exam paper is over the RecordsKeeper Blockchain, it cannot be modified, deleted or tampered. Moreover the security is provided with the Cryptographic algorithms being used with RecordsKeeper where you can encrypt the exam paper and store it over the RecordsKeeper Public Blockchain. As the RecordsKeeper network is made up of multiple peer-to-peer nodes, there is no central storage available for conducting Denial-of-Service attack as all the the nodes are synchronized with each other.

  • Authorities leaked the exam paper

The major concern point of the CBSE exam paper leak was that the authorities who had access to the exam papers were the focal point for the leak of the exam paper. RecordsKeeper provides a solution to this in a very neat and effective technological way. In RecordsKeeper, everyone who has access to the Blockchain has their own private-public key pairs. Everyone – be it schools/students/authorities/agencies can create a private-public key pairs. The CBSE board can have multiple private-public key pairs for different exam papers. Now the private key is to be securely kept with the person but they can share their public key to the rest of the world. In our scenario, the following path can be taken to solve the problem.

  • CBSE board generates a key pair for each exam.
  • The people/agencies who need the access to the paper can share their public keys through secure internal channels with the CBSE or the CBSE board themselves can generate key pairs for all the schools who require the access to exam papers and share it with them. This process can be online & automated.
  • The exam paper (in JSON/XML Format) is encrypted using the exam private key by the CBSE board. (First Encryption)
  • After that, once the head of CBSE has all the public keys of different schools then they can encrypt the exam paper again (second encryption) by the school’s public key to make sure that only the school registered with the CBSE only has access to the exam paper through their respective private keys. Here the public-key of the respective school needs to be the part of the exam itself to trace back school easily in-case of any leak.
  • The encrypted exam paper is published over the RecordsKeeper blockchain along with . This will create multiple transactions entry over the RecordsKeeper for individual school. There may be 30,000-40,000 CBSE Schools all over the country.
  • The uploaded exam paper’s record identification key is shared with all the respective schools once it is uploaded over the RecordsKeeper Blockchain. This will ensure that they all have the encrypted exam paper ontime. Ideally can be done 24-48 hours before the exam. Now the magic of RecordsKeeper comes into play – the school have the access to the exam paper through their respective individual recorded transaction and they can decrypt the exam paper using their own private key. Please note they will still not able to access the exam as it is also encrypted by CBSE’s private key & they need the public key of the CBSE to decrypt it.
  • This way of uploading data over the RecordsKeeper Blockchain provides a way for the CBSE board to monitor the access of the exam papers and it also makes sure that the exam is not reached to an unwanted party.
  • CBSE announces the exam public key just before the exam. May be 30 minutes or so.
  • The authorities now can decrypt the exam using the exam public key. Convert it into printable format using simple tools like JSON/XML to PDF converter.
  • Finally the exam paper is distributed to the students.

Please note each paper will have the public-key or record-key of the school printed in small letters (in background, like water mark) of the question paper all over the question paper. Not at just one corner or page of the exam paper. This will easily allow the regulators or investigators to trace the school in case of any leak. Since only the principal will have the access of the private key pinpointing the human will be much easier.

Using RecordsKeeper Blockchain to distribute exam makes sure that every activity is being tracked and if somebody tries to maliciously access the paper then it will be recorded over the RecordsKeeper Blockchain and the culprit can apprehended as soon as he/she tries to access the exam paper.

We can take a step further in security by creating the key pairs for students and with that the students will have direct access to the exam without any 3rd party mediums and dependencies.

Please check RecordsKeeper’s technical documentation here or reach out to us here for any PoC on RecordsKeeper.

Check the RecordsKeeper Tools & Resources at below links:

RecordsKeeper is here to make sure we change the way we share information and with its use we can uplift the security, immutability and transparency in our education industry.