Nasdaq plans to use blockchain technology

    Bitcoin has image problems. This currency is extremely controversial almost from the moment of debut. The use of Bitcoin in illegal markets, the loss of hundreds of millions of dollars from a popular exchange and other events of a similar nature cast a shadow on the reputation of cryptocurrency.

    But all this in no way affects the underlying technology, blockchain, which in general is a decentralized database of transactions on the network. Nasdaq wants to prove the applicability of blockchain technology, first in its platform (Private Market), and if everything goes well, in the end in the stock market.

    Wallet address - a unique identifier within the system for receiving and sending funds. It is a 160-bit hash from the ECDSA public key key pair. Only 34 characters. Numbers, lower and upper case letters are allowed. The first character within the Bitcoin network is always “1 ″. The remaining 33 characters is that hash from the client’s public key. A transaction in blockchain technology is the basis of the system, which is represented as a record in the NoSQL storage built into the wallet. Wallet addresses do not get into the blockchain until they are received at this address.

    Nasdaq wants to use blockchain to simplify transaction verification, speed up the trading process and increase reliability.

    CoinDesk notes that Nasdaq is not the first company to positively assess the potential of blockchain. Various investment banks, venture capitalists , and financial industry data workers have high hopes for technology. And this is not a bunch of paranoid advocates of cryptocurrencies as a replacement for traditional means of payment, but some of the most intelligent people in the field of finance extol the advantages of new technology.

    The first use of blockchain technology for Nasdaq will be a fully electronic distributed accounting solution - ExactEquity. The announcement of the instrument is planned a little later this year.

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