Swapna Kumar Panda

Swapna Kumar Panda

05-11-2022

12:20

How is the data world changing? 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? ⬘ 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.

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.

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❞.

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

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.

➎.➁ Transactions 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.

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.

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.

➐ Applications of Blockchain ➤ 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 🗨️


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