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Blockchains are just Databases? Right?

The emergence of blockchain technology has brought about a paradigm shift in how data is stored and managed. While traditional databases have been the backbone of data management for decades, blockchain technology has the potential to revolutionise this space. In this article, we will explore the reasons why blockchains are better than databases.

Decentralization and Transparency

One of the key advantages of blockchain technology is its decentralization. Unlike databases that are managed by a central authority, blockchains are distributed across a network of nodes. This means that no single entity has control over the data, and all nodes in the network have access to the same information. This decentralization makes blockchains more resistant to cyber-attacks and data breaches since an attacker would need to compromise a majority of nodes in the network to manipulate the data.

Furthermore, the transparency of the blockchain makes it easier to track the history of transactions. Every transaction is recorded in a block, which is then added to the chain of previous blocks. This creates an immutable ledger that cannot be altered without the consensus of the majority of nodes in the network. This transparency is particularly useful in applications such as supply chain management, where it is important to track the movement of goods from one location to another.

Improved Security

Blockchains use advanced cryptography to secure the data stored on the network. This means that the data cannot be altered without the proper cryptographic keys, making blockchains more secure than traditional databases. Furthermore, the decentralized nature of blockchains means that there is no single point of failure. If one node in the network is compromised, the other nodes can continue to operate and maintain the integrity of the network.

Smart Contracts

Another advantage of blockchains is the ability to use smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. These contracts are stored on the blockchain and automatically execute when the conditions of the contract are met. This eliminates the need for intermediaries, such as lawyers and banks, which can reduce transaction costs and increase efficiency.

Cost Efficiency

Blockchains can also be more cost-efficient than traditional databases. Since blockchains are decentralized, there is no need for a central authority to manage the data. This means that the costs associated with maintaining a central database, such as servers and IT staff, can be significantly reduced.

Conclusion

In conclusion, blockchains offer several advantages over traditional databases. The decentralization and transparency of the blockchain make it more secure and resistant to cyber-attacks. Smart contracts eliminate the need for intermediaries, reducing transaction costs and increasing efficiency. Furthermore, the cost-efficiency of blockchains can make them a more attractive option for businesses and organizations looking to manage their data in a more secure and efficient manner

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Get a DDOS of this!

Have you ever tried to visit a website that you know exists but it doesn’t load? Of course you have.

What do you do next? Check your wifi? Check your network cable? Google it and let google take you there? Double check the spelling of the site? But it must be right. You had it bookmarked. Your browser had the url cached.

What causes this when all else is fine at your end is either a under provisioned service because the owner didn’t such high traffic or more likely malicious agency is conducting a distributed denial of service attack. But what exactly does that mean and can that be prevented?

DDOS is when a hacker commissions a army of servers from all over the world aka Botnet to make requests to a server continuously so when a real visitor attempts to make a request the server is preoccupied trying to respond to unnecessary requests.

One way to counter DDOS is by using services such as Cloudflare, Cachefly or similar services which are designed to detect abnormally high traffic and from known dodgy IP addresses. It blocks them in their tracks and blocklists them.

Some lesser known affects of DDOS is the increase of cost of services. When a Botnet takes your server for a ride, it’s not free. Most professional and organised businesses setup auto-provisioning which basically means more servers spin up to deal with the demand. But if the Botnet is also decked and specked with the best – it will no doubt create a temporary demand that will increase your spend if not max it out totally.