VDX is a user-friendly platform that uses the Blockchain to provide digital credentials certification and verification solutions. VDX provides a portal with the necessary functionalities for issuing and verifying digital credentials over the Blockchain.
The credentials can be shared over the internet and used to prove authenticity. A RESTful API with all functionalities is also provided which can be integrated with any existing applications.
VDX platform is customisable and can be tailor-made to any specific business requirements. Feel free to email us via email@example.com if you would like to ask further questions, or discuss anything about the VDX platform.
A blockchain is a decentralised ledger in which records are stored. It is public (transactions stored are seen by all), immutable (the stored records cannot be changed), secure and private (the identity of users are protected), fast and sure so that it can be trusted for use by everyone, including large and small companies. With the aim of creating a technology to store records, the use of blockchain came up with the invention of the first ever known cryptocurrency.
Bitcoin is a cryptocurrency: it is a decentralised digital currency, without a central bank or single administrator. It can be sent from user to user without the need for intermediaries.
Bitcoin and other cryptocurrencies use their own Blockchain to verify and record these transactions. While decentralised, these are built only for use with their specific currency, e.g. Bitcoin.
A system is decentralised if there is no single point where decisions are made. It has several nodes, and all of them are responsible for the behaviour of the system as a whole. When talking about the Blockchain specifically, all transactions are stored across all nodes in the network. A decentralised system requires network consensus, maintaining ledger integrity as a whole even if single nodes do not. This makes the Blockchain both reliable and robust.
Yes, there are three types of blockchain: Private, Public and Consortium.
A private blockchain is under the charge of a company, i.e. it is controlled by a specific set of individuals. As such, you need some level of authorisation to access the records in a private Blockchain.
A public Blockchain has no restrictions and is accessible and usable by anyone in the world. As long as you have an internet connection, you can validate or make transactions on a public blockchain. Bitcoin operates over a public blockchain.
A consortium Blockchain is generally considered to be semi-decentralised. Similarly to a private one, it is permissioned; however, it is not controlled by a single organisation.
Currently, this is rather unlikely. Due to its decentralised nature, there is no single point of failure. Furthermore, it is considered to be incorruptible. To take control of the system, a single entity would have to control more than 50% of the existing nodes. However, this is extremely unlikely to happen since it would destroy the value of the cryptocurrency, rendering that control useless. We can only worry about probable crashes in the value of cryptocurrencies because of the volatility of the market.
It is secure
It is immutable
It is decentralised
Saves time and cost
Protects the users’ identity
Reduced transaction fees and time
Suitable for storage
No need for intermediaries
Everyone has access to the data available on the blockchain
It is useful for a whole wide range of limitless applications in several industries.
Blockchain technology is mostly used for cryptocurrency transactions, maintaining a global ledger over who is the current owner of the currency. Due to this nature, it is used for online purchases, and even some physical stores are already accepting cryptocurrency as a means of payment. However, Blockchain is not restricted to being used as a means of payment. Some blockchains, like Ethereum, offer a platform for service providing. In Ethereum’s case, it is used to create and run decentralised applications in exchange for the cryptocurrency.
REST is a type of API, i.e. application program interface, that Vizidox is providing to partner applications. This particular type enables partner applications to connect to Vizidox using existing protocols, e.g. http, https. By using the interface, partners gain access to the blockchain with their own applications without the hassle of directly interacting with it.