Read our article to find out how our team used financial data analysis to detect fraudulent transactions.

Fraudulent transactions are a problem that many financial companies face. However, it can be solved with the help of a few special data analysis steps. Interested? Then read our article to find out how our team used financial data analysis for transaction fraud detection.

How We Used Data Analysis to Detect Fraudulent Transaction

Do you want to build a good remote team? Read this article: we&rsquo;re sharing our own experience!

Faced with the need to build a good remote team and are afraid to fail? Then read our article! We'll discuss the issue of managing remote teams and give you ➓ useful tips. You'll learn all you have to know including the most effective team communication tools 

Full Guide on Managing Remote Development Teams

What is scalability in software and why is it important for the growth of your project? Follow the link to learn the answers!&nbsp;
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What is scalability in software and why should you think about this issue? The question is complex ☝ and in a nutshell, we won't be able to answer it properly. Let's just say that you have to scale application software to evolve your project  

Why Does It Matter to Build Scalable Apps?

Are you planning to create an app? In this case, you should know how to prioritize product features. Click here to learn more!

Are you planning to create an application? In this case, you should know how to prioritize product features ⭐ Such a procedure is needed to figure out which features to implement in the first place, and which can wait until future app releases ☝ Follow the link and read the most popular feature prioritization techniques.


How to Prioritize App Features at the Development Stage

If you need to collect a lot of data for your site, a good solution is web scraping. Click here to learn more: we're sharing our experience!
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If you need to collect a large amount of data for your website, the ideal solution is web scraping. Not sure where to start? We're ready to share our experience ☝ Follow the link and read the article about our ruby web scraping project ➢ ➣


Case Study: How We Built Web Scraper on Ruby on Rails

Planning on creating an audio-video streaming platform? Then you should read our article where we list 15 top audio and video streaming APIs.&nbsp;

Planning on creating an audio-video streaming platform? Then you should be interested in using an API to simplify the development process (and therefore reduce your costs) 

Why Is It Worth To Choose Ruby on Rails For Your Startup?

Have you already heard of the latest Ruby on Rails 6 release? We guess the answer is yes, for this is an important event in the IT industry, which cannot be ignored. Of course, we, too, gave due attention to the issue in question. We've tested and analyzed all the key Rails 6 features and are now ready to share our impressions and conclusions with you.
<h2 dir="ltr" style="text-align: justify;">What is Ruby on Rails?</h2>
Ruby on Rails is an open-source web framework making the development process convenient and fast. It means Rails devs get a perfect tool to work more efficiently, and they're really happy about it. Indeed, their job is greatly simplified, why not enjoy it?
Ruby on rails mobile app development has many advantages, and they can be discussed for a very long time. And we'll definitely talk about them in our other articles. This one is dedicated to another issue, namely, the latest framework updates.
But first, let's answer the question: why do you need to use the newest RoR version? Maybe, the old ones will do quite well too?
<h2 dir="ltr" style="text-align: justify;">Reason to upgrade your Rails applications</h2>
If you're only thinking of creating a web application (even if it&rsquo;s planned to be a very simple rails app), then the choice is obvious: you need to use Rails 6.0.0 rc1 (certainly!). However, if your web resource is already actively working, you should take care of upgrading it too. Why? Here are a few reasons:
<ol style="list-style-type: decimal;">
<li dir="ltr">
Fixing bugs. None of us is without stain, and even the most advanced technology is fraught with certain errors (which cannot be detected immediately). Alas, Ruby on Rails is no exception. Its new versions are intended (first of all) to fix such bugs.&nbsp;
</li>
<li dir="ltr">
Improving features. This is not necessarily about errors, sometimes a new release of the framework offers better versions of old features. In the end, there's always room for improvement, technology is evolving, and Rails applications must evolve too.
</li>
<li dir="ltr">
New features. Fixing bugs, improving old features... what else remains on the list? Of course, an extension of the existing functionality! It would be a shame to miss the appearance of a new cool feature, right?
</li>
<li dir="ltr">
Security. The latest releases will receive patches and new versions in case of security problems. Otherwise, you cannot be 100% sure that your Rails app is securely protected.
</li>
<li dir="ltr">
Unsupported release versions. When the release version is no longer supported, you yourself are responsible for possible software bugs. If you don&rsquo;t want to do unnecessary work, upgrade your web app to a supported version.
</li>
</ol>
<img style="border: none;" src="https://d12zh9bqbty5wp.cloudfront.net/ckeditor_assets/pictures/1153/content_2.jpg" alt="Rails 6 development" width="800" height="750" />
Well, have we convinced you? Then let&rsquo;s discuss the latest release of Ruby on Rails.
<h2 dir="ltr" style="text-align: justify;">RailsConf 2019: ruby on rails 6 release date</h2>
The first announcement of future changes was made at the beginning of 2019. And the Rails developers claim that the final release of the updated framework isn&rsquo;t fundamentally different from the preliminary beta versions. All the improvements made over the past few months are more like polishing and glossing when a good product is brought to perfection (as much as possible).
Anyway, the final release was presented to the public at the conference called RailsConf 2019. It took place in the spring of 2019 in Minneapolis and lasted several days. And those who didn't have the opportunity to attend the conference in person can now watch <a href="https://www.youtube.com/playlist?list=PLE7tQUdRKcyaOq3HlRm9h_Q_WhWKqm5xc" target="_blank" rel="nofollow noopener">RailsConf 2019 videos</a>.
However, enough beating about the bush, right? It&rsquo;s time we answered the main question: what's new in Rails 6?
<h2 dir="ltr" style="text-align: justify;">New or Updated Rails 6 Features</h2>
Let's get down to the fun part and start a discussion of the key Rails 6 features: new, improved, updated. What have Rails developers done to facilitate the creation of sites and web applications, to make the whole process more pleasant? What features are now working better, faster, with greater stability?
We won't go into all the details (at least, too much), we'll just talk about the most important points so that you make up your own opinion about the advantages of Rails 6 development.
<h3 dir="ltr" style="text-align: justify;">Action Text</h3>
Probably, the most interesting innovation Rails 6 offers is <a href="https://edgeguides.rubyonrails.org/action_text_overview.html" target="_blank" rel="nofollow noopener">Action Text</a> which finally includes a full-featured rich text editor in the default Ruby on Rails gem list. Basically, it is wrapped around <a href="https://trix-editor.org/" target="_blank" rel="nofollow noopener">Trix Editor</a> - a WYSIWYG library created by Basecamp developers who claim that it overcomes typical cross-browser compatibility issues.&nbsp;
Anyway, we&rsquo;re no more dependent on third-party gems mending JS libraries like TinyMCE with its recurring problems of handling image uploads, etc. Action Text is connected with Active Storage (see below) and requires no configuration to work properly. At least it seems so at first glance.&nbsp;
<h3 dir="ltr" style="text-align: justify;">Action Mailbox</h3>
<a href="https://edgeguides.rubyonrails.org/action_mailbox_basics.html" target="_blank" rel="nofollow noopener">Action Mailbox</a> is supposed to fit the mail inbox into the MVC pattern by introducing an InboundEmail class (which in fact is an ActiveRecord model). The main trick is saving email bodies, attachments, and lifecycle data, as well as an ActionMailbox class itself.&nbsp;
Its functioning principle is similar to how the controller works, namely: determining the actions to be performed when receiving mail. Action Mailbox incorporates client libraries for major mail managing services like Mandrill, Postfix, Mailgun, and others.
<h3 dir="ltr" style="text-align: justify;">Parallel Testing</h3>
Another example of new Rails 6 features is <a href="https://edgeguides.rubyonrails.org/testing.html#parallel-testing" target="_blank" rel="nofollow noopener">Parallel Testing</a>. Its main goal is to significantly reduce the test running time. Under the cover, it uses two options to parallelize test processes:
<ol style="list-style-type: decimal;">
<li dir="ltr">
The first and default one is the <a href="https://ruby-doc.org/stdlib-2.6.3/libdoc/drb/rdoc/DRb.html" target="_blank" rel="nofollow noopener">DRb</a> library, an internal Ruby way of forking multiple processes without any system protocols.
</li>
<li dir="ltr">
The second option is to use threads.
</li>
</ol>
<h3 dir="ltr" style="text-align: justify;">Active Storage</h3>
As we've said in one of the previous sections, some features need improvement and modification. And this is exactly what happened with <a href="https://edgeguides.rubyonrails.org/active_storage_overview.html" target="_blank" rel="nofollow noopener">Active Storage</a> - a feature prominently presented in Rails 5.2.&nbsp;
Active Storage has gained a predictable load of fixes and enhancements. Thanks to them, it supports BMP, TIFF, and progressive JPEG variants. And another piece of good news: Google Cloud Storage with streaming downloads has also been added. It means that from now on the files are uploaded only when the record is saved, and not immediately, which is definitely a more predictable and consistent behavior.&nbsp;
Besides, instead of relying on the standard MiniMagick library as a default image processor, Active Storage switched to the <a href="https://github.com/janko/image_processing" target="_blank" rel="nofollow noopener">image_processing</a> gem. And such a solution is much more versatile because, apart from ImageMagick and GraphicsMagick, it supports a newer libvps library. And this library, by the way, shows great results in terms of both speed and memory consumption.
<h3 dir="ltr" style="text-align: justify;">Other improved features in Rails 6</h3>
Looking through other minor improvements, the tendency to expand multiple database support becomes evident. It&rsquo;s especially crucial when it comes to high-load, distributed, or data-heavy projects. The newly presented features include: db:system:change command to change the database of the application, multiple database support for db:migrate:status command and an ability to use different migration paths from multiple databases in the generators.
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
We&rsquo;re pretty sure all these updates will please those who use the Ruby on Rails framework to create progressive web apps. And how could they not be pleased? In the end, the changes listed are designed to make the web development process even easier and faster than it was before (although simplicity and speed were always important RoR advantages). So, now Rails devs are able to work on projects as efficiently as possible.
Do you have any questions left? We're happy to answer them and advise you on any issues regarding mobile and web development. 
&nbsp;

In the spring of 2019, a new Rails 6 release was presented. It's time to find out the details! Click here and read the article on the issue.

In the spring of 2019, a new Rails release was presented. It's time to find out the details ☝ Namely: what's new in Rails 6? What Rails 6 features are worth attention? Click here and read the article ➣ ➤

Overview of Ruby on Rails 6: Will It Simplify Your Code?

Blockchain has become a paradigm shift that changes the operations of different industries. Nevertheless, like any other disruptive technology, a lot of myths and misconceptions have appeared. We should differentiate between fact and fiction to use blockchain technology effectively and responsibly. We can better understand what blockchain is (and isn&rsquo;t), how it functions, and the varied applications it holds besides cryptocurrencies by clarifying these misconceptions.
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Blockchain is not just about Bitcoin; it is the technology that can transform different fields. 

Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.

Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
Blockchain is not just about Bitcoin; it is the technology that can transform different fields.&nbsp;
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.
</li>
<li dir="ltr" aria-level="1">
Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.
</li>
</ul>
</div>
<h2 dir="ltr" role="presentation">&nbsp;Myth 1: Blockchain and Bitcoin Are the Same</h2>
Among the most common myths about blockchain technology is the confusion between the blockchain and Bitcoin. Blockchain and Bitcoin were created simultaneously, so they are widely believed to be the same thing. However, we must understand that blockchain is a much broader term. It is the technology that created Bitcoin. While Bitcoin is indeed the first and most famous application of this technology, equating the two is like saying that Google is the Internet.
Blockchain is a decentralized digital ledger technology (DLT) that records transactions across multiple computers so that the records cannot be altered retroactively, without the alteration of all subsequent blocks and the consensus of the network.
This makes blockchain a naturally secure and transparent method of data and transaction recording.&nbsp;
Bitcoin is a type of digital currency based on blockchain technology and used for secure, anonymous, and decentralized financial transactions. The blockchain of Bitcoin acts as a public ledger for all the transactions in the Bitcoin network, thus, it is possible to transfer digital currency securely without the use of intermediaries like banks or governments.&nbsp;
Blockchain technology can be much broader than purely financial transactions. It can be used in different industries with various aims. Nowadays, many businesses are studying how blockchain can improve their operations (read more about <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise blockchain development</a> and <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise-grade blockchain development</a>).

Here are a few examples:
Healthcare: Blockchain can guarantee the safety of medical records storage and sharing. Thus, they are only available to authorized personnel and patients and lead to quicker diagnosis and treatment.​
Financial Services: Blockchain is a viable solution for international payments, real-time settlements, and improving transaction transparency and security.
Digital Identity:&nbsp; Blockchain can correct identity theft and fraud by adding digital identities that cannot be changed. For example, Estonia's e-Residency program is the first of its kind, a government-issued digital identity that allows entrepreneurs from anywhere in the world to operate and conduct business online in the EU.
Real Estate: Blockchain can simplify property transactions such as sales, leasing, and financing by reducing paperwork and improving transparency.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/the-evolution-of-blockchain-from-bitcoin-to-business-applications" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280829344.png" width="100%" height="100%" />Learn more about the evolution of Blockchain from Bitcoin to business applications.</a>
<h2 dir="ltr">Myth 2: Blockchain Transactions Are Always Anonymous</h2>
A frequent mistake people make about blockchain technology is that it is automatically anonymous to its users. However, the truth is more nuanced. Blockchain transactions are not strictly anonymous but pseudonymous.
Pseudonymity means that a user's identity is not directly tied to their blockchain transactions but rather to a digital pseudonym, typically a public key or a blockchain address. These addresses are like a sequence of letters and numbers, giving privacy but not total anonymity.
In contrast, anonymity would mean that the transactions are entirely disconnected from any identity, even a pseudonym, making them untraceable to the user. Blockchain does not usually provide this level of anonymity because the transaction history of each blockchain address is visible to anyone who accesses the blockchain.
Most blockchains are open ledgers, meaning that all transactions are visible to anyone who wishes to view them. This level of transparency ensures that while users' identities are not directly exposed, their transaction histories and patterns can be analyzed.<span style="font-size: 11pt; font-family: Roboto, sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> 
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280901953.png" />
While basic blockchain transactions offer pseudonymity, several enhancements and tools can increase privacy:
1. Mixing Services: Services like CoinJoin allow multiple users to combine their transactions into a single transaction with multiple inputs and outputs. This mixing blurs the traceability of any single coin, making it more difficult to link wallets with identities.
2. Privacy-Focused Cryptocurrencies: Some cryptocurrencies, like Monero and Zcash, are designed specifically to enhance privacy. Monero uses ring signatures and stealth addresses to hide the transactions&rsquo; origins, amounts, and destinations. Zcash allows users to shield transactions completely through its zk-SNARKs technology, which enables transactions to be verified without revealing the sender, receiver, or amount.
3. Use of Multiple Addresses: Users can increase their privacy by using multiple wallets or addresses, dispersing their transactions across several points, which makes it more challenging to link them to a single identity.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/blockchain-tech-trends-how-to-stay-ahead-of-the-curve" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280997458.png" width="100%" height="100%" />Explore key blockchain technology trends and stay ahead in its innovation with insights and practical examples.</a>
<h2 dir="ltr">Myth 3: Blockchains Are Unhackable</h2>
The idea that blockchains are completely unhackable is a frequently held misconception that can cause a dangerous level of complacency in security measures. While blockchain technology does offer robust security features, it is not immune to vulnerabilities. Knowing the security features employed and the situations in which breaches happen is very important for anyone who wants to use blockchain for their business.
Blockchain technology secures data through several mechanisms:
Cryptography: Every transaction on a blockchain is secured using cryptographic algorithms, which ensure that data can neither be altered nor read without the appropriate cryptographic key.
Decentralization: By distributing copies of the ledger across a network, blockchain reduces the risk of a single point of failure that could compromise the entire system.
Consensus Protocols: Blockchains use various consensus mechanisms, like Proof of Work (PoW) or Proof of Stake (PoS), to agree on the validity of transactions. These protocols prevent a malicious actor from changing even a single aspect of the blockchain.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281102044.png" width="100%" height="100%" />Learn more about our blockchain software development services.</a>
Despite these security measures, there are scenarios where blockchains can and have been compromised.
<h3 dir="ltr">Scenarios Under Which Breaches Have Occurred</h3>
51% Attacks: This type of attack happens when a single entity gains control of more than 50% of the network&rsquo;s mining hash rate or stake, allowing them to manipulate transactions and potentially double-spend coins.&nbsp;
Code Vulnerabilities: <a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">Smart contracts</a>, which are self-executing contracts with the terms directly written into code, can contain vulnerabilities. One of the most famous incidents is the DAO attack on the Ethereum network. Hackers exploited a vulnerability in the DAO (Decentralized Autonomous Organization) smart contract code to siphon off one-third of the DAO&rsquo;s funds.
Phishing and Social Engineering: End-user security is often the weakest link in a blockchain system. Phishing attacks can allow attackers access to blockchain assets, bypassing network security measures, to steal private keys or wallet credentials.
<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281254703.png" />
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
The blockchain technology is often seen as highly popular and muddled at the same time.&nbsp; Falsified myths are only part of the misconceptions that can mislead such a fantastic technology. Similarly, proper professional knowledge and strategy can help blockchain perform to its potential in various fields.&nbsp;<a href="https://agilie.com/blog/your-own-cryptocurrency-from-scratch-everything-you-need-to-know-to-create-your-cryptocurrency" target="_blank" rel="noopener">Building your own cryptocurrency</a> can be a strategic move for businesses seeking to innovate and tap into new digital markets.
At <a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, we understand that dealing with a complex environment is also a significant challenge. This is why we create powerful blockchain systems and wish to educate our clients regarding the breadth of blockchain-utilizing services. Therefore, such solutions can be tailored to your industry's concrete necessities and problems.
<a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281316627.png" width="100%" height="100%" />Contact us to find out how our blockchain development services can help you achieve your goal.</a>

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

Blockchain Myths Debunked: Separating Fact from Fiction

Read about the factors that influence accounting app development costs.

Read about the factors that influence accounting app development costs.

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Discover the factors that influence fintech app development costs.

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Top 9 Blockchain Real Estate Startups to Explore | Agilie

Analyze the development process of the loan application.&nbsp;

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