Chainset – A Novel Blockchain Based Protocol That Will Revolutionize Outsourcing and Crowdsourcing

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During the past few years, the blockchain technology has been deployed in a myriad of applications across various sectors, apart from the financial sector, emphasizing its role in promoting transparency and decentralization of management via utilization of public consensus mechanisms.

A recently published patent introduced a novel protocol, which has been named the “Chainset” protocol, that can totally transform the outsourcing and crowdsourcing businesses. The new blockchain based protocol allows any user to create a set, after paying a predefined bitcoin transaction fee, to which they can approve and reject submissions, along with any other user of the blockchain who is paid a certain fee for proposing, or adding submissions to the set. A client, who is authorized to access the blockchain, or a given Chainset server, which summarizes and analyzes the blockchain, as well as a distributed hashed object store, e.g. the bittorrent protocol, will be capable of reading a pre-approved set of document hashes and a pre-approved set of documents via the distributed hash store.

 

Does it sound difficult to understand? Well, maybe if you read the patent, it may sound easier, or let me try to


Read more ... source: LiveBitcoinNews

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