What is the ENDO Blockchain Protocol?

2 min read

During the life each of us accumulates thousands of documents – certificates, invoices, diplomas and many others. Not to mention the companies, whose daily work consist of processing the acts, contracts or orders. Organization of such companies often requires a signatures for every piece of paper, that takes time because the documents need to be sent to different departments. This way documents can easily get lost, be improperly formed or even completely falsified, that will make the whole process quite costly. Nobody likes the paper work, especially when in daily life we mostly use the electronic devices. It’s time to recognize this way of document’s processing obsolete.

ENDO Blockchain Protocol offers a modern management solution for every information flow that business has to deal with. There’s more to it: with the help of ENDO, one can literally solve any problem, built on the interaction between several parties. For example, it can link landlords with travelers and provide a transparent form of payment; can become a platform for storing and viewing all kinds of content, while authors will be able to preserve all copyrights and receive a fair reward from the community; it is also able to provide travelers with direct communication with airlines, that can help in case of cancellation and ticket refunding.

ENDO is the open-source protocol, that is distributed completely free of charge. It means that anyone is free to create his own ENDO-based applications. For example, there can be ENDO Photo app, that will serve photographers who wish to verify their own work or ENDO Talk app for verification of speech and dialogues. The developer is enough to use our API to code any conceivable verification program!

What makes ENDO so flexible, how does it solve so many different tasks? It’s a matter of several technical features. Firstly, the Blockchain protocol is a chain of blocks that accepts new data only at the end of the chain. Each new block contains the latest data and transactions and it’s impossible to change the data retroactively.

Secondly, Blockchain is a decentralized network that can’t be falsified or changed due to the fact that is stored on multiple devices at the same time.

Thirdly, the transactions’ and verifications’ process is carried out by independent technical workers, called miners, who are responsible for discovering, verification and adding the new information to the chain.

The mining process in ENDO is built on the DPoS (Delegated Proof-of-Stake) algorithm, which is characterized by high processing speed and excellent scalability of the network. DPoS is also considered to be the most democratic of all existing algorithms, since it requires every miner to be selected by the entire community by voting.

ENDO also collaborates with HyperLedger, a global community organized by the Linux Foundation, which includes leaders from the world of finance, banking, Internet of Things and manufacturers of the new technologies. This means that ENDO monitors the latest developments in these areas and applies them to its technology.

If you need to keep data private, ENDO provides an opportunity to create a private Blockchain, that will operate inside itself with the content available to see by a limited number of persons.

What specific areas can ENDO be used in? These are just the main ones:

1. Verification of the identity;
2. Reliable storage of verified diplomas and certificates;
3. Storage of drivers’ licenses, verification, as well as information about the fines;
4. Creation of a real-estate database and its owners;
5. Verified reviews of goods or services;
6. Verification of employment history;
7. Easy exchange of any verified documents with the different branches and subsidiaries;
9. Orders’ and movements’ tracking in taxi and car rental services;
10. Verification of the authenticity of internet resources;
11. Automatic update of banks’ credit history, as well as procedures of KYC, AML and FATCA;
12. Verification of sports awards;
13. Coordination between visa centers and embassies;
14. Easy storing and accessing of every police or hospitals documents and records.

At the same time any personal data, that needs to be hidden, can be easily put in private Blockchain mode network.

Many companies throughout the world already use Blockchain. Now it’s only a matter of time, when every bank, store or logistics company will track it operations through its own decentralized network. ENDO offers a world-class solution applicable to any field where reliability, security and transparency are required. It will help reduce financial costs, save time, and also facilitate routine and paper work. Join the Blockchain Community today and be among the first to recognize the benefits of a new decentralized technology!

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✅ENDO: https://blog.endo.im
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