Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Tech Giant Microsoft Says Crypto Will Merge With Private Blockchains, Launches Platform for Ethereum-Based Tokens

by Daily Hodl Staff
November 6, 2019
in Ethereum

Seattle-based tech giant Microsoft is testing out its platform for creating digital assets that allow users to transfer, transact, burn or mint tokens. The Azure Blockchain Tokens are built on a permissioned version of the Ethereum blockchain using cloud computing.

Instead of decentralized cryptocurrencies such as Bitcoin that use miners to verify transanctions, Azure Blockchain Tokens use Microsoft’s Azure cloud computing to reach consensus on transactions.

As noted on Microsoft’s official website,

“Azure Blockchain Tokens is a new Azure managed service that allows [users] to create and manage ledger-based tokens easily to accelerate [their] blockchain solution development. This service provides a set of prebuilt templates and the flexibility to create your own templates.” 

According to Forbes, Los Angeles-based video game developer Mythical Games and virtual reality platform Ceek are using Microsoft’s platform to issue their own tokens. The framework is designed to expand the digital economy by moving assets and value across various interoperable blockchains and to create micro-digital economies. For example, Mythical is using a blockchain to create a game currency that can be made scarce and used as a medium of exchange for unique in-game objects. 

Azure Blockchain Tokens has a software development kit that allows companies to quickly and conveniently launch and integrate digital assets into their business.

“With practical applications ranging from streamlining supply chains to managing retail loyalty points programs, tokenization has enormous potential to simplify and accelerate complex business processes – while also making them more secure.”

Microsoft calls blockchain technology “an immensely powerful concept that will forever change the way transactions between parties execute” and expects the world of public cryptocurrencies and private digital ledgers to merge, transforming industries.

“There are currently two token ‘universes’ at the moment in the form of public and private or consortium blockchain networks.

1. A public universe heavily tilted towards crypto currency use cases that features a diverse and wide selection of blockchain choices, each of them differentiating themselves on their technical under pinnings and evolving new economic models.

2. An enterprise or corporate universe that provides a narrower choice of blockchain technologies focusing on evolving existing economic models with a more diverse and wide view of tokens.

At some point the boundary between these two universes, public and private, will blur as the technology and social, economic, legal, regulatory and practical aspects involved with this disruptive technology matures. But for now, it’s safe to think that the use of tokens in the public universe is narrowly focused on different versions of money or crypto currency and the private universe is widely focused on tokens that
are not.”

Azure Blockchain Tokens are created based on guidelines provided in the Token Taxonomy Initiative, a standardized way of creating blockchain-based digital assets.

As of November 4, applications are open to everyone to test out Microsoft’s new technology. 

You can sign up for access to the preview here.

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • DAM Finance Receives Strategic Investment From Arrington Capital Moonbeam Growth Fund
    August 11, 2022
  • Metaverse, Web 3.0 Disruption and Blockchain Advancement To Be Discussed at MetaWeek in Dubai
    August 11, 2022
  • DeFiChain Community Brings Attractive Rewards for DFI ERC-20 Pairs on Uniswap
    August 8, 2022
  • Bware Labs Announces the Blast Incentivized Testnet, Code-Named Houston
    August 8, 2022
  • Aurigami Collects $12 Million War Chest To Grow Aurora-Based Lending Protocol
    August 2, 2022
  • Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network
    August 2, 2022
  • Serenity Shield and Digital Insights Announce Strategic Partnership
    August 2, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$24,626.60
$24,626.60
0.15%
Ethereum
$1,991.40
$1,991.40
1.16%
Cardano
$0.593202
$0.593202
9.57%
XRP
$0.384785
$0.384785
0.91%
Dogecoin
$0.074194
$0.074194
1.37%

Spotlight

  • BlackRock and Coinbase Deal Could Trigger Bitcoin Burst to $773,000, According to InvestAnswers
    August 8, 2022
  • Macro Guru Raoul Pal Sets Price Target for Ethereum (ETH), Predicts Slowdown of Inflation
    August 10, 2022
  • Shark Tank Investor Mark Cuban Hit With Class Action Lawsuit for Promoting Voyager to NBA Fans
    August 12, 2022
  • Crypto Markets To Face Biggest Test of 2022 This Week, According to Analyst Justin Bennett – Here’s Why
    August 8, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl