Blockchains offer a way to replace these organizations and their centralized databases with a distributed database that is secured by cryptography and consensus mechanisms. This distributed database eliminates the single point of failure — also called the honey pot problem — characteristic of centralized databases.
Read moreWhat are the key features of the blockchain?
List of Top Blockchain Features
Read moreWhat is unique about blockchain?
It is an immutable public digital ledger , which means when a transaction is recorded, it cannot be modified. Due to the encryption feature, Blockchain is always secure. The transactions are done instantly and transparently, as the ledger is updated automatically.
Read moreIs Blockchain database a distributed database?
A blockchain not only allows to add new data to the database but it also ensures that all the users on the network have exactly the same data. Thus, a blockchain is a distributed and decentralised linked data structure for data storage and retrieval which also ensures that the data is resistant to any modification.
Read moreIs distributed Ledger a database?
A distributed ledger is a database that exists across several locations or among multiple participants . By contrast, most companies currently use a centralised database that lives in a fixed location. A centralised database essentially has a single point of failure.
Read moreHow does Blockchain database look like?
The blockchain data structure is a back-linked list of blocks of transactions, which is ordered . It can be stored as a flat file or in a simple database. Each block is identifiable by a hash, generated using the SHA256 cryptographic hash algorithm on the header of the block.
Read moreIs blockchain more secure than traditional database?
Blockchain technology uses decentralized data storage to sidestep this issue, thereby building security into its very structure. Though blockchain technology is well-suited to record certain kinds of information, traditional databases are better suited for other kinds of information .
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