NeuroChain Technology is Needed to Advance the Future of Blockchain Financial Share Trading
Blockchain has already proven itself to be an effective means to trade cryptocurrency. From its originating use as a secure trading method for Bitcoin, Blockchain finance protocols have been the backbone of FinTech crypto-trading platforms. Blockchain is a distributed ledger that has many benefits over its traditional centralized database systems. Blockchain uses a consensus protocol to verify transactions, but current consensus protocols have their limitations. While Blockchain has facilitated the trading of cryptocurrency, it has yet to be used in the trading of traditional stocks and securities.Why Have Stock Markets Not Adopted Blockchain? The problem with the current Blockchain is that it is not scalable. The current consensus protocols – Proof of Work and Proof of Stake – do not allow for quick and efficient transactions. Proof of Work requires thousands of miners to verify the transaction resulting in wasted time and energy. Applying Blockchain to the stock market in its current state would be no different than replacing stock brokers and auditors with computer scientists.NeuroChain is an improvement of the current Blockchain that uses a new consensus protocol called Proof of Involvement and Integrity (PII). NeuroChain also uses Machine Learning and Artificial Intelligence to automate the consensus process. These two modifications to the current Blockchain make it possible for NeuroChain to facilitate the trading of stocks. NeuroChain Could Improve Traditional Stock MarketsHere are the ways that NeuroChain could improve the public financial markets:Improve Transparency – a distributed ledger system inevitably improves the transparency of that system compared to a centralized ledger that is controlled by a single party.Automated Trading – Machine Learning and Artificial Intelligence could be used to automated trading processes.Reduce High Commission Fees – the NeuroChain bots would replace the middleman and significantly reduce commission fees. The validating bot would get reward for its validation but this is often a fraction of a token.Simplify Regulatory Processes – auditing and government oversight would be much easier as a secure record of transactions already exists.
NeuroChain, let’s build a better world!
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