Creating Assurance in a Blockchain World

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Creating Assurance in a Blockchain World
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Creating Assurance in a Blockchain World

• A Blockchain is a distributed ecosystem marked by
  the absence of a central authority and involves a
  Distributed Ledger spread across multiple nodes
  managed by multiple entities. The transactions
  are recorded using an immutable cryptographic
  signature known as a hash and added as a chain of
  blocks.
• The blockchain market trends
• The blockchain technology market is expected to
  showcase a rapid growth of 67 over the next
  four years. The banking and financial services
  application area is expected to hold the largest
  market size in the blockchain market during the
  forecast period.
• The top emerging blockchain technology trends are
• Emergence of Blockchain as a service (BaaS)
• Enterprise Blockchain Adoption further
  accelerated by the Pandemic
• Hybrid blockchain models having a mix of public
  and private blockchain features
• There is phenomenal growth potential in the
  blockchain space within which Consortium based
  permissioned Enterprise networks are gaining
  traction.

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Creating Assurance in a Blockchain World
A plethora of opportunities in Blockchain The
current market trends open a plethora of
opportunities in blockchain. Some of the trends
are as follows 90 of European Payments Council
members believe that blockchain technology will
fundamentally change the industry by
2025. Moving securities on blockchains could
save 17B to 24B per year in global trade
processing costs. A survey among 8 global banks
found that blockchain technology could bring down
the average cost of clearing and settling SWIFT
transactions by 10B annually. Components of a
comprehensive Blockchain Testing Assurance
program The major components of the testing
program can further be classified
into Functional Testing spread across UI/Mobile
app interface, User Acceptance, API Validation,
System Integration. Blockchain centric
testing spanning the four central pillars of
Immutability, Transparency, Security and
Consensus Non-Functional Testing with the key
focus areas as such as Consistency Validation,
Fault Tolerance, Database Failover, Resilience,
System Performance, Latency, and
Synchronization

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Creating Assurance in a Blockchain World

Cigniti is one of the few IT service providers to
have invested in a couple of its own blockchain
sandboxes across diverse blockchain technologies.
These sandboxes are designed to quickly create a
viable prototype for any business application
providing a ready environment to test the
viability of the concept and effectiveness of its
configuration. Cigniti offers targeted testing
services for applications that include
comprehensive validation methods across API
testing, functional/non-functional testing,
integration testing, security testing, compliance
testing, and performance testing and also
includes specialized testing features, such as
peer/node testing and smart contract
testing. Need help? Talk to our Blockchain
Testing experts to learn more about vendor
financing on Hyperledger Fabric and identify the
issues a typical blockchain project has, and how
Cigniti can help in making the blockchain
compliant. Read Full Blog at https//www.cignit
i.com/blog/creating-assurance-blockchain-world
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