Building a Scalable Database for Safer Blockchain Network
Unlocking the features of blockchain database brings massive advancement to a civilization
The advent of Blockchain as a real-world tech option in 2016 has brought many changes to the financial market. Some compare Blockchain change to the open-source software change that happened half a century ago. But ultimately, Blockchain is still a niche skill amongst the developers. Henceforth, making Blockchain a database is the extended solution for clearing tech issues.
Blockchain is a public ledger built around a P2P system that can openly be shared among disparate users to create an unchangeable record of transactions, each time-stamped and linked to the previous one. Every time a set of the transaction is added, that data becomes another block in the chain. Blockchain can only be updated by consensus between participants in the system, and once new data is entered, it can never be erased. Bitcoin helped Blockchain unravel a new technology in 2017. Bitcoin hysteria has given various options to companies where they can work on their blockchain system. Still, organizations struggle to patch the technology gap.
Besides the benefit of the company, unlocking the features of Blockchain brings massive advancement to a civilization. However, blockchain datasets are useful for companies starting from supply chain speed to the global transaction’s security.
What is Blockchain database?
Every Blockchain may be considered as a database. A blockchain is a kind of a database because it is a digital ledger that stores information in data structures called blocks. On the other side, a traditional database is a structure used for storing data information. A blockchain database utilizes blockchain technology to create an immutable ledger of transactions. One of the major advantages of using Blockchain is that it relies on a decentralized peer-to-peer transaction, making it secure. It removes the need for a single controlling entity that retains administration rights over the database.
A blockchain database acts as a centralized distributed database where the stored data can be accessed and added to anyone with authorization. However, there are some key differences between both, which the concerned user should be well aware of.
Using Blockchain to Build a Scalable Database
Combing strong things together will bring a breakthrough technique. Here, the colliding technologies are distributed database and blockchain database. One of the companies being the frontrunner in the merging of the database is BigchainDB.
The combination will allow both the database to bring their best features together. From the blockchain stack, the database will have decentralized administration, immutability, and enhanced assets. It will have scalability and faster data processing from the distributed database.
Four Ways to Implement a Blockchain Database
Operational Blockchain Data Store with Enterprise
Operational Data Store (ODS) is used in making decisions. The operation data will represent all the information being received from business processes that are not involved with the blockchain database. To incorporate with decentralization, the database needs to be controlled by two or more administrations from different locations. If a company is operational only in a country, it can have two separate offices to administer Blockchain. The operational blockchain data store model will prevent outside clients from accessing the data.
Non-operational Blockchain Data with Enterprise
Non-operational blockchain data is needed to facilitate the client’s access to the database. Clients won’t be able to review the database directly. They will have intermediaries who monitor and forward information to the clients. A key benefit of this approach is the short-latency periods when compared to a standard blockchain database.
Operational Blockchain Data with Consortium
The operational blockchain data in consortium acts similarly to traditional blockchain ideology. The consortium could be made up of many individuals or companies which make the Blockchain decentralized. No individual or company can control over the consortium. They all maintain the database on individual nodes.
Non-operational Blockchain Cata with consortium
Intermediaries would allow clients to access data held in the database. It even allows the outsiders who are unauthorized people to access the database directly, which could benefit from the implementation model.