Category: Original Content

Blockchain as Explained in 2022

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Blockchain as Explained in 2022

blockchain-2022

Table of Contents

Hello there SIXers, I’m a writer at SIX Network and today I’d like to talk about the topic, in overview, of blockchain as explained in 2022. Three years ago blockchain was perceived differently from today’s blockchain definition. It changes fast and revolves around the trend of DeFi, NFT, and Web 3.0 during the past years.

 

The core of blockchain can be explained under many circumstances such as perspective from end-users, corporate, and key product managers, just like SIX Protocol that was launched early in 2022.

Simple Blockchain Guide

 

Spending time reading this article will save you tremendous time questioning while diving deeper into the technology, whether you’re interested in cryptocurrencies or how blockchain works.

 

A blockchain is basically a block tied up together into a long chain. Each block contains digital information and each block relies on the one before. The first working example of blockchain is Bitcoin. It was invented because of the inefficiencies of centralized banking institutions.

 

The specific characteristics of being decentralized make blockchain different and incredibly efficient to use. 

Who runs the blockchain?

Yes, blockchain is decentralized with no custodian, but with no miners there would be no computers running the network and no way to conduct transactions with it. Miners are essential to make the blockchain operational then they are distributed with reward for finding the next open-source block to continue blockchain. This type of algorithm is known as Proof-of-Work (PoW).

 

To this point, this is one example given to you to understand the function of it. And there are several algorithms blockchain uses for running the protocol like: Proof-of-Stake (PoS), Proof-of-Authority (PoA), and Proof-of-History (PoH) for instance.

Storing Blockchain

Continuing with PoW example, the storage conducted by nodes refers to computers storing a copy of the blockchain. It differs from miners where they validate transactions and send back and forth the information for other nodes and miners.

 

To build up the next block, miners are to confirm the block and then add it to the previous block in the blockchain. But how will the chain be created, you might wonder? The series of blocks must be validated. Now nodes will take charge of verifying all transactions, sending the new blocks to other nodes holder as a new copy.

 

Furthermore, I would like to introduce a protocol you might want to have a glance at powered by SIX Network. SIX Protocol chain will contribute to the community in many ways whether business or individual to have access to a friendly protocol.

SIX Protocol as The Chain of Choice 

SIX Protocol is a determinant extension that serves as a blockchain for individuals and the business sector. The protocol is designed to assist projects and businesses enabling the power of Web 3.0. 

 

There are many blockchains to choose from, why is the SIX Protocol beneficial for enterprises and individuals?

It is a notable point to start a mainnet that has the ability to connect with multiple blockchains. The infrastructure feasibility for projects and businesses to create new scalable decentralized apps.

 

Mentioning one of the SIX Protocol’s Toolkits, Token Autonomy Management allows users to create and manage their digital assets whether it is a cryptocurrency or NFT so-called Initial Asset Offering (IAO) service.

 

Governance token on SIX Protocol is fueled by SIX tokens which is the cryptocurrency used for spending transaction fees, governing the system, and redeeming the services on SIX Protocol.

SIX Protocol’s Validation System

Proof of Staked Authority or PoSA is backing up the security system throughout the SIX Protocol chain. It requires verification and approval by the majority of network nodes to validate a new block of transactions.

 

Validators are prone to keep transactions in the blockchain running, it is the most reliable and secure consensus algorithm. SIX Protocol’s Node Validators are selected as trustworthy entities to secure nodes. 

 

NFT Gen 2 by SIX Network 

On top of that, SIX Protocol is eager to introduce the data layer made definitely for NFT. NFT Gen 2 is the on-chain solution of SIX Protocol to enhance the real utility of the NFT for business use.

 

The property for cross-chain functioning on SIX Protocol makes it easy for businesses to transfer NFT for any existing collection of the chain. One interesting feature is the ownership oracles that can screen for original content. Better suited for businesses and brands to be able to verify the ownership even though the NFT Gen 2’s metadata on SIX Protocol can be modified will serve the needs of business campaigns and activities.

 

Learn more >> https://sixprotocol.com/

Summary:

 

SIX Protocol will become an alternative chain of choice for businesses needing to implement Web 3.0, bringing off-chain business to come to the blockchain side of the internet. Implementing SIX Protocol’s toolkits will ease the process of tokens or NFT issuing with the property of cross-chain functions.

 

Therefore, blockchain technology is not something complicated if you understand the working system and the components of a blockchain. Though it evolves in many ways from layer 2 or side chain, all in all, blockchain technology mainly concerns peer-to-peer transactions cutting out intermediaries and inefficiencies.

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We are fascinated to hear from you about your on-chain project, email us if SIX Protocol is your blockchain of choice Email: business@six.network

Don’t miss, out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Content Marketer Specialist
Prepare to fly higher with the new technology and innovation that SIX Network will provide!

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A Short Chronicle of Whale Gate Collection and The Supporting Marketplace on Xclusive

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A Short Chronicle of Whale Gate Collection and The Supporting Marketplace on Xclusive

story-of-nftgen2

The world of NFT will never be the same when many more projects are bringing utility to the Non-fungible Token. In this article, we will talk about the interesting factors of the world’s first-ever NFT Gen 2 that was showcased at Thailand Crypto Expo 2022 6-9 October 2022.

 

Whale Gate Collection is the first NFT Generation 2 developed by SIX Network. The unique features and abilities that this genre of NFT will allow a community to enjoy the practical experience of the NFT they hold.

The storyline of Whale Gate Collection

The story of how the Whale Gate Collection began 2 months ago with SIX Network production team’s intention to portray a set of NFT collections applying our technology to the existing overachieving hit.

 

The project “NFT Gen 2” was in our roadmap and was the first project to be birth on SIX Protocol’s chain. Let’s get back to the beginning when our production team first got the assignment to create a demo for the public to experience the feasibility that NFT can be more than just a collectible and interchange the word “Non-fungible” to fungible in its use.

 

The up coming event to attend the exhibition at Thailand Crypto Expo 2022 in October was our window to demonstrate Gen 2 layer’s abilities. But before every other thing, we must first have our own NFT first.

"What should it be?"

The question rings in the team; a whale = symbolic use to call a group of crypto holders with a large amount in their wallet. Then the team manages to throw back the idea and came back with another comment to add a prism between the whale’s body.

 

It does look like a gate with the whale floating and as simple as that comes the name: Whale Gate.

WHALEGATE#066

The highlights of the NFT generation 2 are:

➖ Fraud and duplication prevention using another layer to identify the origin of an NFT

➖ Real-life application that can be used for a ticket pass, privilege redemption, and more.

➖ Options to modify NFT metadata

➖ Dynamic + Static Metadata systematic on the NFT.

Xclusive the Multichain-based NFT Marketplace 

SIX Network, Handstudio, and Xeno Xclusive(ly) launch our first NFT marketplace to support multiple chains of Klaytn and Ethereum to pack in with the wave of NFT trends in South Korea. 

 

Fast forwarding during the expo was held, the NFT Gen 2 giveaway activity was the highlight at SIX Network’s booth which we are giving out the Whale Gate Collection in the form of paper wallets exclusively for attendees.

Experiencing the Gen 2 of NFT, attendees will have to complete the in-booth to get points that are embedded. At this point is where the Dynamic Data Layer comes with IPFS and oracle to modify the layer base of metadata to track and trace activities happening to the NFT.

 

And what next? At the exhibition we introduce Xclusive Marketplace, led by Fingerlabs, presenting the multichain-based NFT marketplace launched on the 1st of September 2022. Read more.

The starting launchpads are Bellygom, Sunmiya, Meta Kongz, Mutant Ape Yacht Club, and more; now listing Whale Gate Collection by SIX Network on Klaytn Mainnet.

 

SIX tokens will be used as a medium of payment on Xclusive for every Klaytn-based project which is a crucial milestone for SIX holders. SIX Network is proud to present our very own first collection of NFT with dynamic data which hopefully will be the new phase adoption for NFT users and business sectors.

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Prepare to fly higher with new technology and innovation that SIX Network will provide!

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The Basic Idea of Validators vs. Miners

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The Basic Idea of Validators vs. Miners

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Table of Contents

The verifiers of blockchain transactions are generally scoped down to two main groups of the consensus algorithm. This “verifiers” position are commonly known as validator and miner, they have the same legitimacy to help blockchains validate information, synchronize data, and process transactions. Though, both have similar task to accomplish but it’s the procedure that make the difference.

Distinguish between Validators vs. Miners

The validators are amended to Proof-of-Stake (PoS) which validators are the ones building the block of the chain enabling tasks for checking transactions, verifying activity, voting on outcomes, and maintaining records.

 

To become a validator is to “buy into” the position means that token owners will have to offer their tokens as collateral for the chance to validate blocks. Token owners who staked their coins will become validators and receive transaction fees as rewards. 

 

Miners are found in Proof-of-Work (PoW) blockchain network, their task is to solve complex mathematical equations to complete the requirement of becoming nodes for a chain. 

 

Miners usually need to invest in highly advanced equipment, powerful computer RIG, and energy power to run the work. As the name suggests, as proof of work, miners rely on the amount of work they input to receive block rewards.

Behind The Scene of Verification Mechanism

Proof-of-work and mining need to solve a mathematical puzzle known as the proof-of-work problem to create a new group of trustless transactions or blocks on a distributed ledger called the blockchain.

 

Transactions are bundled into a block, miners jump in to verify the block legitimacy then rewards will be given to the first miner who solves each block problem; this process is called inverse hashing.

 

Proof of stake and validators is the consensus mechanism introduced by Peercoin and then secondly by the Ethereum chain. It is virtually portrayed by locking up the ecosystem token in the chain which is known as staking.

 

The overall purpose stays the same on both blocks proving the only difference is in the procedure that the validators to creating the next block are based on how much they have staked and then rewarded with proportion to the staking amount.

Conclusion

In conclusion PoW or PoS is crucial to a blockchain ecosystem to help in the validation of blocks and synchronizing data to create a whole new chain, stabilizing the security within the network through the work performed by miners and validators. 

 

In recent days many blockchain networks are turning to Proof-of-Stake as their consensus process which allows validators to stake tokens in the system and strengthen the security of the blockchain.

SIX Protocol will soon launch and is thrilled to invite everyone to become our validators of the network the procedure is based on Proof-of-Stake Authority (PoSA).

 

The Individual Node Validator is specified for people who are looking for the opportunity to become a part of consensus verifiers of a network. We are looking forward to you staying tuned for the big announcement and learning more about how to join Individual Node Validator by following this link. 

>> https://sixprotocol.com/six-validator-nodes

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Khanathat Chowpradith
Khanathat Chowpradith

Fulltime learner | Passionate Writer | Investment Geek

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The Case Study of NFTs and Logical Endorsement of Real World Company

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The Case Study of NFTs and Logical Endorsement of Real World Company

nft-case-study

 

Long story short Bitcoin mind is not supported for NFT creation until 2015, which is the birth of Ethereum where development teams from Ethereum have some time to study the concept and came up with smart contracts to mint and distribute NFT with the first ever NFTs of the world known as CryptoPunks.

A Successful Story of NFT

Knowing the history of NFTs probably didn’t convince everyone that NFTs are useful. Many projects try to replicate their success story, but only a few have even come close such as Bored Apes Yacht Club.

Honestly speaking NFTs are perceived as the art collection, but digital art is just one use case for NFTs and is mostly a familiar use case. Other several use cases such as proof of ownership of anything and one great example is real estate.

Case scenario:

If you based NFT on a deed for house selling, you could essentially create a record of the home’s occupancy and ownership on the blockchain. And when you are ready to sell the house, you could make a summary of the entire history of the house from the day it was built. Moreover, smart contracts can eliminate much of the paperwork too.

 

Propy is a real estate company implementing NFT for property selling.

https://propy.com/browse/propy-nft/

 

This same principle applies to anything with substantial value along with car purchases, stock investments, and so on. The legitimate use cases merging between NFT and real-world uses are still a debate to date.

NFT Integrated Company Example 

Let’s take a look at giant companies that have already implemented NFTs for their product in proving the legitimacy of ownership.

✓ Nike’s CryptoKicks: In this project, they involved the patented shoes as NFTs to mitigate counterfeit shoes and when a customer buys a genuine pair of shoes it is accompanied by a cryptographic ownership detail.

✓  Gucci Vault: Take a whole new route with Vault – an online store that launched several sets of Gucci’s NFT collections.

Long-term Viability of NFT

Another aspect of NFT use case has been adapted from the forefront concept of blockchain decentralization. Keeping track of the supply chain does not necessarily mean you know the ownership of the milk in your fridge. However, if the milk came with an NFT, people could track down what farm it came from or the date of pasteurizing. Well, this is a cool idea but people will get over it within a week. 

 

Where this concept really makes sense is in companies that need multiple better solutions of visibility over goods from their starting to endpoints. One well-known luxury brands such as LVMH and Prada are leading the way in this area.

 

Consumers who buy high-end products, handbags, jewelry, or other items can prove their origin through NFT which displays the product’s history from manufacturer to store as well as proving counterfeit products.

How Does Creating NFT on SIX Protocol Beneficial?

Answer: We won’t boast that SIX Protocol chain is anything in between, but we are offering a worthy space to run a buzzling project. Skilled developers, outstanding oracle system from our partner Chainlink, and expert consultant in blockchain technology will facilitate you to achieve. 

 

Trusted names that have collaborated with us in NFT projects are T-ARA, Sunmiya, and Buakaw.

 

The primary purpose of NFTs is not to buy overpriced jpegs which you can already screenshot off Google. Rather, NFTs have legitimate use cases from real-life case studies.

Summary

There are more sides to NFT that will be useful. New identity experiences, marketing tools, access control, and more to mention. It’s likely that many of the companies looking forward to the opportunity to flourish over the long run will integrate both digital and physical aspects into the product they’re holding.

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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Why are Communities Becoming More Essential in Blockchain Businesses 2022

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Why are Communities Becoming More Essential in Blockchain Businesses 2022

community-is-essential

Table of Contents

Blockchain technology has widespread adoption in various industries worldwide in the past few years. However, with the ever-increasing abundance of blockchain businesses and NFT projects, we have vividly recognized that any blockchain project’s heart and soul lie within the community network!

Now, let’s dive into why the significance of communities has become the spotlight for blockchain businesses in 2022 

#1 The central hub for education, collaboration, connection, and great ideas

 

Blockchain communities aren’t bounded to geographical locations due to their decentralized nature; these communities are instead diverse, like-minded individuals who share interchangeable ideologies and hail from different corners of the world. 

 

A community within a blockchain business or project is similar to a real-life co-working space because these communities attract people of all ages, ethnicities, races, proficiency levels, etc. There are novice learners, professional traders, prospective entrepreneurs, and enthusiasts that are either interested or passionate about the same project. 

 

The true power of community is a central hub or space that allows experienced individuals to educate others and groups of people to collaborate and expand their networking with one another. Most importantly, new perspectives and a collective of different human brains would often lead to great ideas and suggestions. 

 

Let’s take a look at SIX Network’s community channel; for example, our team utilizes a discord server as a community hub with various rooms and activities for the member to be able to join in and participate in different activities. 


Want to check out SIX Network’s community space on discord? Join now here: https://discord.gg/kypKmUJv9J

#2 Engaged communities = enlarge the user base

 

There are many reasons why blockchain businesses nowadays truly invest vast sums of money into building an engaging and strong online community. It appears that an engaged community can act as the best advocates for the blockchain business on social media and beyond. Especially for new blockchain projects starting from scratch, advocating support is indispensable. 

 

Active communities enable veteran, well-knowledged members to drive engagement from new members by explaining the project/business’s core products and objectives and participating in different activities. Well-informed members in an engaged community can help activeness rise and provide better comprehension and support for all alike. 

#3 Drive business activities directly with the community

 

Once there is a space for the community to interact with each other, another vital element a business should consider is to drive community activities. It will be highly convenient for projects and community members to ride along with each activity as the project can introduce its products and campaigns in a community space directly where users can receive and bounce information with the team.

Crypto Campfire by SIX ep 1

As per what we do at the SIX Network community, our discord has a weekly live session called “Crypto Campfire by SIX,” where we invite different guests to talk about all things crypto and engage with the members. The topic ranges from Metaverse, Money Management, NFTs, Web 3.0 Community Management, and many more.

 

It is worth mentioning that some community platforms, such as Telegram or Discord, come with the capabilities for the business to have add-on features such as bots, growth tools, etc. 

 

At SIX Network, we have also included SIX Protocol’s “SIX Zone” onto our discord server to be utilized for various community activities such as whitelist management and airdrop activity.

 

You can learn more about this growth tool, SIX Zone, here.

#4 The rise of Web 3.0 & NFTs adoption

With the emerging era of Web 3.0, a lot of education is still much needed for new users, such as handling private keys or sign messages. Hence, the importance of building a community filled with individuals with different levels of experience and skills will play an essential role in helping the overall understanding of how to operate in this new era.

SIX Network Discord Information Section

Take another example from our discord server; we have a section called “user-guide” and “official-links,” where members can go through different how-to’s and access SIX Network’s flagship products websites such as SIX Protocol and Definix directly.

Conclusion

 

There are many reasons why the significance of communities has become the spotlight for developing blockchain businesses and NFT projects, whether a business can communicate, retain, and expand its customer base, or drive members to support its operation. It is also essential for companies to choose the right community platform that highlights the values and experiences of their audience—for example, having a community on discord Vs. Telegram.

 

It is worth mentioning that at SIX Protocol, we have a team full of discord server-building experts. So whether you want your server to have an AI bot for generating images, a bot that can track referral activities, or a growth tool that helps you grow and manage your community, our team is here to assist you!

Currently, anyone can receive SIX Protocol’s full range of services by joining the ecosystem as one of the Business Nodes. So if your business plans to expand into the blockchain world in any way, this might be the perfect gateway for you! 

 

Fill in the interest form here: https://forms.gle/wAQzLcXijneVuC3i6

 

Want to know more about the benefits of becoming a node? Check out this article here.

Don’t miss out follow us at:

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

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A Crypto Airdrop Mini Guide for Businesses

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A Crypto Airdrop Mini Guide for Businesses

cryoto-airdrop

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In the crypto world, one can enjoy many activities, whether you’re completing tasks on social media for an NFT project’s whitelist spot, joining community sessions, or hunting for free airdrops.

 

Today, SIX Network wants to dive into what you need before doing crypto airdrops. So let’s get into it!

A Crypto Airdrop involves blockchain-based projects such as a #DeFi platform or an #NFT project sending out free tokens to potential users, community members, or users who completed a particular step in the platform to increase awareness of the project.

 

Today, Crypto Airdrop is still one of the most popular marketing strategies used by various Web3 projects worldwide.

As crypto airdrops allow projects to shine in the light and gain awareness in the crypto space, it is also considered a gateway for users to get to know the project and the token better.

 

However, it is crucial to note that doing airdrops might come with many challenges that a project needs to overcome, such as scammers and the use of bots.

 ✓ Know your goal

Like any project or campaign in the world, one of the most crucial aspects is the user experience and the goal of your airdrop activity.

 

For example, if your campaign objective is to increase the number of long-term holders, you might consider finding DeFi partners that can co-launch a staking pool for your token.

 

Then, once the airdrop activity is completed, you can recommend the users to stake their tokens and earn some passive income instead of letting them sell all their newly dropped tokens.

 ✓ Create an activity for your audience

When it comes to crypto airdrop, one of the essential processes is to develop a set of missions or tasks users must do to participate in the activity. These missions will be one of the first impressions you’re making to your potential audience that has not yet learned about your project.

If a project can craft a set of tasks that are engaging and not too hard to complete, it might impress users to go ahead and learn about your project. But, at the same time, complex missions might draw the interest away from users, especially crypto newbies.

With SIX Protocol’s growth tool, “SIX Zone,” which is specifically developed to help projects manage community activities, you can rest assured that your next airdrop activity or other community activities such as whitelist management or missions tracking will be smooth for your users and participants.

 ✓  Reach individuals from different parts of the world through hashtags “#”

It goes without saying that Twitter is one of the most significant social platforms for crypto enthusiasts. So many interesting and educational things are happening there, but so are crypto airdrops!

If you’re not familiar with Twitter, we heard that @thesixnetwork is a good account you should start following 😉

 

One of the most important tips is to utilize Twitter for your airdrop activity to the fullest through hashtags. Hashtags represent topics, interests, or trends that are happening around the globe. Twitter users use hashtags to find the conversation or content that they prefer. With crypto airdrops, of course, many people are looking through different hashtags to find the activity to participate in.

 

Here’s an example from an airdrop activity that we did with Z7DAO, 77 Z7DAO Airdrop, which got over 800+ retweets and liked with more than 10,000 impressions.

If you made it to this point, you must be excited to join an airdrop activity or even host one yourself! Don’t know how to start? Why not hit us up?

 

Suppose you’re interested in learning more about how to create a successful airdrop activity or exploring ways you could utilize all the things mentioned in this article; feel free to contact our team at SIX Protocol here: https://bit.ly/contact-sixprotocol

Don’t miss out follow us at:

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

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Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

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Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

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Table of Contents

 

Technology for Data Safety

 

 

Borderless Web3 Transaction

 

 

Chainlink is an example of a blockchain-based project building Web3 beneficially for business transactions. Chainlink is a blockchain middleware that allows smart contracts to access vital off-chain resources such as data feeds, web APIs (application programming interfaces), and traditional bank payments corporations.

What Can SIX Protocol Chain Contribute?

 

 

 

➤ Provides a trustworthy environment for the community

 

➤ Lowers barriers to access services

 

➤ Encrypt identity and no intermediary

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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What is SIX Protocol’s Token Autonomy Management System & Why does it matter for the business sector?

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What is SIX Protocol’s Token Autonomy Management System & Why does it matter for the business sector?

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Table of Contents

Token Autonomy Management System? What is it anyway?

 

Safety for individuals in the blockchain space is our number 1 priority.

 

What is multi-signature technology? Why is it important?

 

Who is it for?

 

 

 

Don’t miss out follow us at:

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

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The rise of NFTs for Business Development: How SIX Protocol can help utilize NFTs for your business

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The rise of NFTs for Business Development: How SIX Protocol can help utilize NFTs for your business

utilize NFTs

Table of Contents

 

 

NFTs across industries

NFTs with Utility

 

 

Music and Entertainment industry — Admission Pass for events

 

 

Real Estate industry — NFTs vs. Documents

 

 

Should your business give NFTs a go?, Working with SIX Protocol, and more

 

 

 

 

 

Don’t miss out follow us at:

Khanathat Chowpradith
Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

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Top 5 Blockchain Use Cases: From Payments to Multi-Level Corporate Revolution

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Top 5 Blockchain Use Cases: From Payments to Multi-Level Corporate Revolution

1_pvbTJvf5lkZI9Lyz43oIJA

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Five Blockchain Use Cases To Put An Eye On

 

  1. Logistic — Blockchain technology increases efficiency, enabling transparency and traceability for logistics and supply chains.

 

 

 

 

 

 

 

 

 

Embracing Blockchain with SIX Protocol Chain

 

 

 

– Decentralized KYC is playing a big role in IDO/INO rounds. The system was made to the prevention of token manipulation for the project owners.

 

– Cross-chain comes in handy when the project owner can choose from day one which particular blockchain they want to distribute their token on which chain.

 

– Whitelist management helps the project owners to create a certain action for the investors to participate in the IDO/INO.

 

– Community Connects blockchain infrastructure with community applications such as Discord.

 

Don’t miss out follow us at:

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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