Michael Scott Blog

  Stellar is a decentralized and open network for transferring and storing money. Jed McCaleb, the founder of Stellar, developed Stellar intending to provide people with a way to share their fiat currency to crypto effortlessly.  Developers who build apps on the top of the Stellar network program using Stellar SDKs in their preferred programming languages. SDKs, in turn, interact with Horizon, Stellar-network API. Horizon provides a way to check accounts, subscribe to events, and submit transactions.  Read more:  https://www.leewayhertz.com/run-stellar-api-server/

  IoT device management has become significant with the growing demand for IoT devices, data management approaches, and changing architectures to convert a massive amount of data into actionable insights. IoT technology promises to provide insights by combining various sources of device data. Data-driven knowledge offered by IoT is used to create new business models or improve existing business cases. However, it is essential to consider the foundation of any IoT solution, i.e., device management, to successfully deploy an enterprise’s IoT solution. Read more:  https://www.leewayhertz.com/iot-device-management/

  Technologies including Artificial Intelligence, Big data, Machine Learning and IoT have evolved the retail industry over the past decade. IoT (Internet of Things) continues to transform the retail market and is anticipated to be deployed by over  80% of global retailers  in 2021.  Frontier Economics  states that a 10% increment in M2M connections will generate a 2.26 trillion USD GDP increment in the US alone within 15 years. IoT applications allow retailers to increase their productivity, improve customer experience, reduce costs and increase sales. With such enormous benefits, IoT is gaining immense popularity among retailers worldwide. Global IoT’s  market size  in the retail sector is forecasted to rise from 14.5 billion USD in 2020 and reach 35.5 billion USD by 2025 at a CAGR of 19.6%. The retail industry can utilize IoT technology in many ways. It helps retailers to improve store operations, track energy utilization, manage in-store navigation,...

  On-field workers tackle numerous workplace dangers from chemical exposure and equipment mishaps to fatal falls, heat strokes and fatigue. Along with conventional personal safety equipment, robust regulations and extensive training are vital. However, even these practices do not confirm absolute safety; no one knows when the external environment suddenly turns dangerous. Likewise, managers or supervisors are entirely unaware when remote field workers reach their physical threshold. Smart connected IoT devices now provide an unprecedented level of visibility into workers’ health and working environment. Smart IoT-enabled wearables like watches, helmets, etc., continuously capture vital physical metrics like blood pressure, heart rate, temperature, etc. According to ILO, more than 2.8 million workers die per year due to occupational accidents or work-related disease. It is devastating to know that every 15 seconds, 178 accidents happen at a workplace. It is a staggering number ...

  As the non-fungible token market reaches a vast number, it is good to look back on the initial days of NFTs and remember the challenges revealed by Cryptokitties. Cryptokitties was the first example of potential NFT mass adoption built by the Dapper Labs team. Since then, new NFT marketplace platforms such as Rarible, Sorare and OpenSea have been introduced to encourage NFT Development. The research published on NonFungible.com says that the total value of NFT transactions in 2020 increased by 299% compared to 2019 and exceeded $250 million. Experts predict that non-fungible tokens will be the driving force behind the virtual economy in the coming 10 years. The NFT marketplace is expected to grow tremendously, and developing an NFT marketplace is a great opportunity. Therefore, we have put together a complete guide that will answer questions about building an NFT marketplace. Read more:  https://www.leewayhertz.com/develop-nft-marketplace-platform/

  Entrepreneurs, policymakers and investors are increasingly adopting Blockchain technology to transform the way businesses communicate with other companies, regulators and customers. As an increasing number of companies rush towards implementing Blockchain technology, its ecosystem becomes more diverse and dynamic. Blockchain is a powerful innovation that brings positive changes to various industries, including finance, supply chain, food, insurance and many more. Blockchain’s capabilities to provide a decentralized ecosystem, transparency and immutability are implemented to ensure cybersecurity. Cybersecurity refers to protecting interconnected systems such as hardware, software and data from information disclosure, thefts, disruption of services or any other cyberthreat. The cybersecurity market is forecasted to grow from 152.71 billion USD in 2018 to 248.6 billion USD by 2023 at a CAGR of 10.2%. Cyber-attacks have grown to become even more sophisticated, due to which ...

  The only constant entity in today’s digital age is change— change driven by technology. A successful adaption to change through digital transformation marks the difference between a failing and flourishing company. Deloitte states, “Digital transformation is nothing but becoming a digital enterprise— an organization that utilizes technology to grow and transform all aspects of its business models continuously.” It includes transforming the way of service delivery, interaction with customers and essential operations and processes. According to marketsandmarkets, the market size of global digital transformation is expected to reach 1009.8 billion USD by 2025. The growth is driven by various innovative technologies such as Cloud computing, IoT, Big Data and Analytics, Artificial Intelligence,  Blockchain  and many more. This article covers everything from an explanation of digital transformation to a description of real-world examples. It will  guide you...

  The successful IoT deployments have enabled many paradigms associated with digital transformation to drive concrete business outcomes in the industry. An idea among this rapidly gaining popularity is the “digital twin.” Gartner mentioned digital twin as one of the top 10 strategic technology trends for 2017, 2018, and 2019. It says within three to five years, billions of things will be represented by digital twins. According to marketsandmarkets, the global market size of the digital twin in 2020 was 3.1 billion USD and is expected to reach 48.2 billion USD by 2026 at a CAGR of 58%. Digital twins provide a glimpse of what’s happening with physical assets now or what can happen in the future. For more:  https://www.leewayhertz.com/digital-twin/

  A low-code development platform (LCDP) uses a user-friendly Graphical User Interface (GUI) development environment to build software applications.    These platforms are more straightforward to navigate than hand-coded computer programming. They reduce the initial setup, training, deployment, and maintenance costs involved in developing software and apps.    The Benefits of Using LCDP Platforms   Low-code development platforms allow software developers to develop functional apps and programs for a fraction of the price. Plus, they enable developers to create apps with minimal traditional hand-coding. It speeds up the software development process, makes for swift application delivery, and increases the rate of digital transformation.   LCDP platforms usually offer visual development support, reusable components, agile strategy alignment, and one-click deployment features. All of which make the software development process quicker and easier. Low-...

  Have you ever wondered how everything is becoming so smart? How are gadgets able to make human-like decisions? The answer to all these wonders is hidden in the buzzwords AI (Artificial Intelligence) and IoT(Internet-of-Things). Indeed, when blended, these are the highly innovative technologies resulting in the origin of even the most crucial technology (AIoT) that has immense potential to change the world drastically. With such rapid advancements in technological progression, AIoT (Artificial intelligent of Things) is redefining and reforming every industry. AI paves the way for intelligent task execution with real-time analysis while IoT bridges the communication scale between devices. The merging of these two technologies makes each other’s applications more effective and powerful. While IoT serves the purpose of data collection and storage to the cloud, AI is regarded as the brain that essentially functions in decision making and stimulating the machines to respond. Research a...