Looking for the former Knowledge Base? Check this link: https://kb-legacy.projectmerge.org/
Merge is the collaborative result of crypto-based teams and individuals that seek to develop ideas and achieve new goals. Merge brings together skilled and talented individuals to form teams pursuing world adoption and the integration of blockchain technology, all the while offering a unique opportunity to be part of a life changing experience.
It is our goal to bridge the gap to crypto and provide a platform that will allow non-crypto developers to build apps or projects that interact with the blockchain.
Find out more at: https://projectmerge.org/
A blockchain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp and transaction data (generally represented as a Merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.
Blockchain databases consist of several decentralized nodes. Each node participates in administration: all nodes verify new additions to the blockchain and are capable of entering new data into the database. For an addition to be made to the blockchain, the majority of nodes must reach consensus. This consensus mechanism guarantees the security of the network, making it difficult to tamper with.
Decentralized control: Distributing administrative powers or functions of a central authority over a less concentrated area.
Confidentiality: Being a write-uncontrolled, read-uncontrolled database. That means anyone can write a new block into the chain, and anyone can read a block in the chain.
Timestamping: Cryptocurrencies use various timestamping schemes to "prove" the validity of transactions added to the blockchain ledger without the need for a trusted third party.
Anonymity: Cryptocurrency is pseudonymous rather than anonymous in that the cryptocurrency within a wallet is not tied to people, but rather to one or more specific keys (or "addresses"). Thereby, cryptocurrency owners are not identifiable, but all transactions are publicly available in the blockchain.
The blockchain process of transacting and storing information on a decentralized, distributed ledger yields many benefits for enterprise application data:
An integrated network, updated in real-time with always-consistent data.
Ability to set rules for each blockchain enforces compliance.
Tracing data from provenance to present to reduce disputes or discourage fraudulent activity.
Increased efficiency of industry processes, reduced auditing costs.
Consent, protection and control of consumer/customer data.
High level of trust in repository of transactional data.
Traditional databases use a client-server network architecture. Here, a user (known as a client) can modify data, which is stored on a centralized server. Control of the database remains with a designated authority, which authenticates a client’s credentials before providing access to the database. Since this designated authority is responsible for the administration of the database, if the security of the authority is compromised, the data can be altered, or even deleted. Sources: https://en.wikipedia.org/wiki/Blockchain https://www.coindesk.com/information/what-is-blockchain-technology/ https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database/
Cryptocurrency is an alternative form of payment to cash, credit cards and checks. The technology behind it allows you to send it directly to others without going through a 3rd party like a bank. This means you do not have to use your social security or credit score as collateral and allows you to be reasonably pseudonymous. In other words, cryptocurrencies are like virtual accounting systems. They keep a record of all transactions. The transactions are bundled into blocks, which are cryptographically signed (hence “crypto”currency) and the client doing the signing gets some number of units of virtual currency (and potentially transaction fees) as a reward for doing the work of calculating the cryptographic signature.
Cryptocurrencies use decentralised technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a distributed public ledger called blockchain, which is a record of all transactions updated and held by currency holders.
Cryptocurrencies are known for being secure and providing a level of anonymity. Transactions in them cannot be faked or reversed and they tend to be low fees, making it more reliable than conventional currency. Their decentralised nature means they are available to everyone, where banks can be exclusive in who they will let open accounts. As a new form of cash, the cryptocurrency markets have been known to take off meaning a small investment can become a large sum over night. But the same works the other way. People look to invest in cryptocurrencies should be aware of the volatility of the market and the risks they take when buying.
As part of our solutions, we offer a cryptocurrency that supports all transactions that run over the blockchain. Such cryptocurrency is called MERGE and offers several other features, such as masternodes and proof-of-stake to reward those users that hold the coin and support MERGE's network.
Learn more about the Merge Coin at: http://coin.projectmerge.org
Sources: http://www.telegraph.co.uk/technology/0/cryptocurrency/ https://medium.com/meetngreetme-ico/explain-me-like-im-five-what-is-cryptocurrency-ed1276d5f4c5 https://en.m.wikipedia.org/wiki/Cryptocurrency
It is a digital wallet that stores the public and private keys which can be used to receive or spend a cryptocurrency. A wallet can contain multiple public and private key pairs. The cryptocurrency itself is not in the wallet. It is decentrally stored and maintained in the blockchain. With the private key, it is possible to digitally sign a transaction and write it in the public ledger, effectively spending the associated cryptocurrency.
Merge's digital wallet serves as a regular cryptocurrency wallet by storing MERGE's public and private keys and allowing the reception and expenditure of the coin. Moreover, the wallet does take benefit of the coin's features by providing the following options:
CPU mining during the PoW phase (see PoW - CPU Mining for more information).
Staking during the PoS phase (see PoS - Staking for more information).
Act as a Local Wallet to control MERGE masternodes (see Masternodes for more information).
Learn more about the Merge Wallet in section Wallet.
The main objective of Merge is to create an ecosystem that encourages the collaboration of contributors, creators, visionaries and developers who share, believe and would like to reach world adoption and integration through the use of blockchain technology. This unique method of collaboration will form Merge community teams, creating a network that builds applications "on top of" Merge’s core systems.
Learn all about Merge's ecosystem at: https://projectmerge.org/ecosystem
As Enterprises across industries begin to adopt blockchain technology into their everyday processes, use cases will expand exponentially.
“At Merge we plan to build a community and teams that coexist in a creative environment, work together to develop use cases based on all of our many ideas and establish ways to integrate the blockchain with traditional and conventional technology to achieve world adoption.” --Merge Core Team--
Here are a few examples of the many industries and potential use cases we plan to explore in the near future:
Information-sharing across organizations- trust, transparency, and efficiency.
Supply Chain Management - With FlureeDB, a consortium of stakeholders in a supply chain can own, operate and enforce rules for their own shared blockchain.
Coordinate logistics, payments, financial terms, and contract rules.
End-to-End visibility and tracking of supply chain process in real-time.
Auditing - Records can be instantly independently verified.
Compliance - Track processes against regulations with predefined rules.
Business Contracts - Set predefined rules for transactions between two or more companies engaged in a partnership.
Track truthful, full history of vehicle from pre-production to sale.
Supply chain parts management.
Banking, Financial, Fintech
Streamline payments processing with high efficiency, fast and secure transactions.
Empower global transactions, tearing down national currency borders.
Minimize auditing complexity for any financial ledger.
Tracking donation allocation, accountability, integrity.
Reduce overhead and complexity of donation payment processing.
Increased security with a shift from centralized data security to decentralized network.
Lower transaction costs within a decentralized network.
Crowdsourcing unused cloud storage.
Commercial Vehicles and Transportation.
Tracking journey stops; paired with IoT to create an immutable ledger of trip data.
Make credit reports more accurate, transparent, and accessible.
Fight hacking with immutability of ledger.
Guarantee validity with data integrity.
No Single Point of Failure (decrease in IP-based DDoS attack success)
Provide auditable trail for donations to prevent fraud.
Ensure crowdfunded campaigns receive donations and contributors are compensated.
Digitizing, verifying academic credentials.
Federated repository of academic information specific to class, professor, and student.
Bypass public grids to allow for cheaper, peer to peer energy transfer.
Smart utility metering.
Combined with machine learning algorithms, blockchain can provide a decentralized forecasting tool.
Government and Voting
Reduce voter fraud, inefficiencies with verifiable audit trails.
Minimize government fraud, digitize most processes.
Increase accountability and compliance for government officials.
Identity validation; integrity of citizen registry data.
Tracking gun ownership and possession related information.
Tracking criminal ID history and attempts to purchase.
Background checks: Verification of identity, employment history.
Payment and benefits process validation — smart contracts.
Improve multi-party contracts.
Streamline risk contract efficiency.
Streamline claims adjudication.
Reduce disputes with transparency of shared data.
Ability for IoT applications to contribute transactional data to blockchains.
Implications across industries (trucking/transportation, supply chain integrity, etc.).
Integrity of evidence, resistance to falsification of case data.
Documentation of time-stamped, chronological chain of facts.
Smart contracts with defined rules, expiration, and accessibility for relevant parties.
Bypass intermediaries, providing more cost-effective advertising.
Control of ownership rights.
Anti-piracy / copyright infringement.
Use of smart contracts for artist compensation/legal proceedings.
Payments processing — cryptographic, secure, and anti-3rd party (this opens up content availability internationally).
Medical / Healthcare
Drug Supply Chain Integrity.
Patient Databases/Indexes on blockchain.
Medical Supply Chain Management.
Transparency and Automation within the patient-to-hospital or patient-to-doctor transactions.
Clinical trial provenance — integrity with an auditable trail of data exchange.
Efficiency, privacy, and ownership of patient health data.
Public Transportation/Ride Sharing
Streamline public transportation.
Provide more accurate payment for ride, gas, and wear and tear.
Transparency within agreements.
Verify property information, update and decentralize records.
Reduce paperwork, digitize transactional processes.
Record, track, transfer land titles.
Passenger Identification, boarding, passport, payment, and other documentation digitized and verified.
Loyalty programs digitization and tracking.
Wills and Inheritances
Smart contracts to determine validity of will and allocation of inheritances.
To PIVX for their vast amounts of sources of information and to all the other great authors whose information was used in creating this whole space.