Block-chain Technology

Type of Databases or Entities

Centerlized Databases:-

is a database that is located, stored, and maintained in a single location. This location is most often a central computer or database system.

decentralized database:

A decentralized database is a database that is installed on systems that are geographically located at different locations but not linked through a data communication network.

A distributed database:

A distributed database is a single logical database, which is installed on a set of computers that are geographically located at different locations and linked through a data communication network.

Block-chain & bit-coin:

BlockChain is technology that's enables Moving Digital coins or assets from one individual to another individual.A BlockChain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data.

Bit-Coin:

is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Concept and Problems:

You want to be able to tell, when a data-set has changed. You need proof that/when it was (not) changed.

Tamper-Evidence:

a blockchain is decentralized. Thus there cannot be a single place where the blockchain is stored (that would make it centralized).

Advantages:

  • It is a Decentralized System.
  • The Blockchain is Transparent.
  • The Blockchain is More Secure.
  • Faster and Cost Effective.
  • Immutable.
  • It Can Record Historical and Current Records In One Place.
  • No Downtime.

Disadvantages:

  • Complexity.
  • Size of Blockchain.
  • Human Errors.


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