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.
