Marrying Vision with Tech
Envisioned Systems provides Automation Services to Online Business Ventures and has several areas of expertise. We are innovating in the new era of Distributed Ledger Technologies.
What Do we Do?
Learn more about our services
Blockchain Consulting
The guiding principal of your corporate blockchain strategy should be to future-proof your strategic investments in this technology. Our partnerships with some of the leading associations in blockchain will be an absolute asset in this process.
Multimedia
We provide a wide range of informative video material for purposes such as staff training, marketing, and instructional/support videos for your user community
Training/Speaking
Envisioned Systems is currently working with some of the leading financial institutions in Canada to help put them at the forefront of knowledge in blockchain technology. Contact us to find out how we can do this for you through simple information and training sessions.
Partners & Technologies
Who uses Envisioned Systems?
Frequently Asked Questions
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently 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 validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.
Blocks hold batches of valid transactions that are hashed and encoded into a Merkle tree. Each block includes the hash of the prior block in the blockchain, linking the two. The linked blocks form a chain. This iterative process confirms the integrity of the previous block, all the way back to the original genesis block.
A hard fork term refers to a situation when a blockchain splits into two separate chains in consequence of the use of two distinct sets of rules trying to govern the system. For example, Ethereum has hard-forked to “make whole” the investors in The DAO, which had been hacked by exploiting a vulnerability in its code. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were recovered after negotiations and ransom payment.