Is it possible to design database using Blockchain technology?
Yes definitely, blockchain technology adds decentralization properties, among other enhancing features to any activity that could have been done using a regular database software. A database on the blockchain would be:
- Decentralized – this makes it more difficult for any central party to tamper with the stored data.
- More Secure – the database would be almost impossible to hack due to its decentralized nature.
- 100% Trustworthy – users can be more assured that their personal and other important data is stored in a trustworthy place.
- Transparent – all the information on a public blockchain is usually accessible by all users of the network. Users can monitor and verify all activities on the network.
- More Efficient – removing the middlemen and replacing them with smart contracts will reduce the cost of managing and operating the database. This would reduce user service cost as well.
There are endless examples of databases on the blockchain as almost all projects on the blockchain has its own database. However, here are some examples of projects using stored data as a part their use-case:
BigchainDB aims to provide a blockchain database platform for developers and enterprise to deploy blockchain proof-of-concepts, platforms and applications. The project features:
“high throughput, low latency, powerful query functionality, decentralized control, immutable data storage and built-in asset support, BigchainDB is like a database with blockchain characteristics.”
Datum is a project that aims to collect, store and monetize its users’ online data. The users’ data will be own and controlled by the users through personal accounts.
The metaverse project’s main goal is to digitize personal assets and identities. To accomplish these goals, much like the Datum project, the users personal data will be stored and operated using personal accounts.
Featured image source: Pixabay.
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