How is the data world changing?
SQL
↓
NoSQL
↓
Blockchain
A beginner friendly guide.
⇩
SQL
↓
NoSQL
↓
Blockchain
A beginner friendly guide.
⇩
Let's discuss,
➊ What is Blockchain?
➋ Architecture of Blockchain
➌ Immutable blocks
➍ How is a block added?
➎ How is blockchain a database?
➏ Use cases of Blockchain
➐ Applications of Blockchain
🚥 Arrows (↓) above indicate their chronology of becoming popular.
➊ What is Blockchain?
➋ Architecture of Blockchain
➌ Immutable blocks
➍ How is a block added?
➎ How is blockchain a database?
➏ Use cases of Blockchain
➐ Applications of Blockchain
🚥 Arrows (↓) above indicate their chronology of becoming popular.
➊ What is Blockchain?
⬘ Blockchain is composed of 2 terms, viz., ❛block❜ and ❛chain❜.
⬗ Blockchain is a growing list of blocks that are chained together.
⬙ A block contains data and some additional information.
⬖ The chain is made securely using cryptography.
⬘ Blockchain is composed of 2 terms, viz., ❛block❜ and ❛chain❜.
⬗ Blockchain is a growing list of blocks that are chained together.
⬙ A block contains data and some additional information.
⬖ The chain is made securely using cryptography.
➋ Architecture of Blockchain
Blockchain is
❯ Distributed
❯ Decentralized
❯ Immutable
⬘ ❝Distributed❞ ➟ there could be multiple participants who could add blocks. Such participants are aka "Nodes".
⬙ ❝Decentralized❞ ➟ there exists no central authority.
Blockchain is
❯ Distributed
❯ Decentralized
❯ Immutable
⬘ ❝Distributed❞ ➟ there could be multiple participants who could add blocks. Such participants are aka "Nodes".
⬙ ❝Decentralized❞ ➟ there exists no central authority.
➌ Immutable blocks
⬘ Blockchain is architected in such a way that the data stored in a block remains immutable.
⬗ A block contains information about its previous block.
⬙ To alter data in one block, you have to alter all subsequent blocks, which is nearly impossible.
⬘ Blockchain is architected in such a way that the data stored in a block remains immutable.
⬗ A block contains information about its previous block.
⬙ To alter data in one block, you have to alter all subsequent blocks, which is nearly impossible.
➍ How is a block added?
⬘ First, a node signs the block using the SHA-256 signature.
⬗ Then it is validated by the ❝majority❞ of validation nodes in the blockchain.
⬙ This way of validating a new block is called ❝Proof of Work❞.
⬘ First, a node signs the block using the SHA-256 signature.
⬗ Then it is validated by the ❝majority❞ of validation nodes in the blockchain.
⬙ This way of validating a new block is called ❝Proof of Work❞.
➎ How is blockchain a database?
⬘ Blockchain stores the data using some form of data structure. So, yes. It's a database.
⬙ But a blockchain differs from traditional databases in
➀ Data Integrity
➁ Transactions
➂ Query Performance
➃ Structure
⬘ Blockchain stores the data using some form of data structure. So, yes. It's a database.
⬙ But a blockchain differs from traditional databases in
➀ Data Integrity
➁ Transactions
➂ Query Performance
➃ Structure
➎.➀ Data Integrity
⬘ The blockchain structure makes it virtually impossible for someone to change the data without breaking the chain.
⬙ In traditional databases, a malicious actor can alter data if proper measures are not taken.
⬘ The blockchain structure makes it virtually impossible for someone to change the data without breaking the chain.
⬙ In traditional databases, a malicious actor can alter data if proper measures are not taken.
➎.➁ Transactions
Because of immutability, only 2 types of transactions are allowed in a blockchain.
❯ Add Data
❯ Read Data
Because of immutability, only 2 types of transactions are allowed in a blockchain.
❯ Add Data
❯ Read Data
➎.➂ Query Performance
⬘ The verification method used in blockchain to ensure data integrity can "slow down" the querying performance.
⬙ Regular databases (SQL and NoSQL) may be much faster in this regard.
⬘ The verification method used in blockchain to ensure data integrity can "slow down" the querying performance.
⬙ Regular databases (SQL and NoSQL) may be much faster in this regard.
➎.➃ Structure
⬘ Blockchains can be fully decentralized. There is no requirement for a central authority.
⬙ Traditional databases are centrally managed. An administrator owns and controls the data.
⬘ Blockchains can be fully decentralized. There is no requirement for a central authority.
⬙ Traditional databases are centrally managed. An administrator owns and controls the data.
➏ Use cases of Blockchain
Blockchain is more suitable where
⬘ "No trust" in a single authority.
⬗ Data is not allowed to be altered.
⬙ Ability to trail back through the entire set of transactions and easily trace the root cause of the issue.
Blockchain is more suitable where
⬘ "No trust" in a single authority.
⬗ Data is not allowed to be altered.
⬙ Ability to trail back through the entire set of transactions and easily trace the root cause of the issue.
➐ Applications of Blockchain
➤ Crypto Currency
➤ Banking and Finance
➤ Real Estate
➤ Healthcare
➤ Supply Chains
➤ Voting System
➤ Smart Contracts
➤ Crypto Currency
➤ Banking and Finance
➤ Real Estate
➤ Healthcare
➤ Supply Chains
➤ Voting System
➤ Smart Contracts
Hey 👋
I am a Tech Writer, Educator, and Mentor from India 🇮🇳
I am sharing Tutorials, Tips, Interview and Practice Questions, Roadmaps on Web Development, DSA and, Database.
Do you find the above content useful? Share your feedback 🗨️
I am a Tech Writer, Educator, and Mentor from India 🇮🇳
I am sharing Tutorials, Tips, Interview and Practice Questions, Roadmaps on Web Development, DSA and, Database.
Do you find the above content useful? Share your feedback 🗨️
Loading suggestions...