A blockchain is comprised of a network of computers, or nodes, each with a copy of a database, or ledger, containing a list of transactions. Within a blockchain, no single node can change a block within the ledger – which makes a blockchain practically impossible to hack.
A perfect fit
The language industry and blockchain are a perfect fit: decentralised, a large, variegated creative community, cross-border, and able to handle millions of transactions securely. Blockchain enables us to create a truly global language marketplace that would simply be impossible using a traditional approach.
A secure platform
In the none-too distant future, the decentralised nature of blockchain technology might well be the only viable defence against cyberattacks. The security element of blockchain technology will be key to its success in many different facets of the Exfluency platform.
When we award an Exfluenscore™ for the work carried out by our Community members, we store it on a private blockchain. Each Exfluenscore contributes to a member’s Trust Chain: an immutable means of building a reputation within the Exfluency Community.
Anyone who creates or shares a linguistic asset with the Open Community is rewarded with LangCoins. Every transaction is permanently stored on a public blockchain. LangCoin transactions are also controlled by a smart contract – a blockchain program that triggers actions based on work carried out on the Exfluency platform. LangCoin operates on the famous Ethereum platform.
Every time work is carried out using the Exfluency platform, the details of the transaction are stored on a blockchain. As well as being highly secure, storing this information on a private blockchain means always being able to find out who delivered content, when and in what context.