Even after more than a decade of blockchain on the tech scene, many people still show some confusion in terms of explaining this technology and understanding its potential ramifications in business sectors. And the business Often times, the confusion only gets worse when people try to compare blockchain to a technology deeply ingrained in the way businesses large and small operate: traditional database systems. To some extent, this misunderstanding is justifiable because a blockchain is actually a database, but a database is not a blockchain. Although both are used to store information, they are not interchangeable because they are structurally and functionally different. A blockchain is a new database called a "digital ledger" that stores information in data structures called blocks. In contrast, databases store information in data structures called tables.
The old database systems
Traditional database systems run on a client-server network architecture where users, called clients, can modify data which is then stored on a centralized server. Control of a database is assigned to a designated authority, an administrator, who authenticates the customer's identity information before granting access to the database. The administrator has full control over the database. You can create, modify, and delete any record stored in the database. A major shortcoming of this type of system is related to safety. If the security of the authority is compromised, the database can be hacked and even deleted by the malicious entity taking control.
Traditional databases are characterized by being recursive, which means that a user can go back and repeat a task in a record and edit or delete it if they have authorization.
When Blockchain arrives
Blockchain is a distributed, distributed, distributed database commonly known as a distributed ledger that records all information entered into the blockchain network in orderly records called blocks. To ensure tamper resistance and data integrity, each block contains the hash information of the previous block, thus creating an interdependent blockchain structure. The database created is replicated and shared among network participants (nodes), ensuring overall transparency. If a node is compromised, the system can retrieve all data from full nodes that store a copy of the full blockchain. To add new data to the blockchain, most of the nodes that make up the network must reach a state of consensus on the data to be entered. This is achieved through a consensual mechanism that ensures that malicious data cannot be entered into the network.
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CRUD vs read and write
With the proper permissions, a client in a traditional database system can perform four different functions on the data: create, read, update, and write - collectively called CRUD operations.
On the other hand, due to the design of their architecture, blockchains are non-recursive structures, consisting only of additions. This means that users can only add more data to a blockchain. Due to interdependence between blocks, information cannot be deleted or changed on a blockchain without invalidating the entire system. This look can act as a double-edged sword. Blockchains keep an accurate historical account of each version of system data, without an administrator having to manually back up each version. The downside is that GDPR and other data protection regulations can present a problem for blockchain networks if a user decides to assert their right to be forgotten.
decentralization
This is not the case with the blockchain. The decentralization mechanism allows a blockchain-based infrastructure to not have a single point of failure or a centralized server. The data is hosted and managed by all parties involved in the business flow. In this case, decentralization translates into greater security and transparency.
Traditional database systems rely on a central server to host and store all information. This type of architecture has become an element of liability because it creates a single point of failure that can be exploited by attackers, either through raw computing power or looking for a back door.
Resistance to forgery and data integrity.
Software products based on a blockchain database can demonstrate the integrity of the data and the fact that the data has not been tampered with or altered by third parties. All changes are saved and recorded correctly. Users of software products benefit from data integrity guarantees. Most centralized databases create backups up to a point in time, which is similar to a point-in-time snapshot. Blockchain maintains a complete history of itself. Once the data is entered into a blockchain, it is almost impossible to delete or modify it. As such, they are an ideal tool for storing and analyzing company information. In addition, the transparency layer allows users to observe and analyze the evolution of the blockchain over time.
Distribution network
A blockchain backend is a network of computers that all store applications, immutable data, and product features. Distribution adds a new layer of utility and value to business software products by ensuring availability and rapid access to the system.
Immutability / integrity of source code
Applications can be implemented directly in a blockchain environment as source code, which cannot be changed without anyone being aware of the changes. Similarly, the immutability of the source code ensures a high level of trust among users of the software.
fullfilment of security requirements
The concept of blockchain was born out of the need for a secure and stable framework. Bitcoin, the first implementation of the technology was designed as a digital payment system. As a result, security, cryptography, and data protection are essential features of this technology. All the properties inherent in the blockchain combine to create a secure environment.
Modex BCDB is a new approach to blockchain technology that eliminates the need to invest resources in blockchain training and facilitates the rapid adoption of the technology in business. The solution proposed by Modex is a middleware that combines a blockchain with a database to create a structure that is easy to use and understand by developers without prior knowledge of blockchain development. As a result, any developer who knows how to work with a database system can use our solution without having to change programming style or learn the blockchain.
Currently, most blockchain solutions on the market are oriented to blockchain as a service, limited to a rigid vision and application of technology. A company or the CTO of a company may realize, after a little study, that their company can solve various problems and streamline background processes by implementing blockchain. The problem is that to implement blockchain technology only through your own technical team, you have to invest a lot of time and resources to study the type of blockchain that best suits your needs and start a long work process. Learn the development specificity of each blockchain, as well as finding tech-savvy developers.
The Modex Blockchain Database (BCDB) was designed to help people without technological training, take advantage of the benefits of blockchain technology and eliminate the risks associated with the loss of confidential data. With minimal modifications, Modex BCDB can transform any type of database into a decentralized database that has the same characteristics of blockchain technology: transparency, increased security, immutability and data integrity.
Every company is reserved and refuses to make changes to its database, and for good reason, the loss or corruption of data constitutes significant risks. Modex BCDB does not delete the existing database or data entries. The database remains intact throughout the entire process. The integrity of the data is ensured by calculating the metadata of the records and storing it on the blockchain. Furthermore, the system does not limit access to the blockchain or the database. Therefore, when a developer needs to perform reporting or ETL transformations, they can still perform store analysis by directly accessing the database. In fact, Modex BCDB has been purposely designed to be agnostic. With our solution, customers can configure a network, regardless of the type of database used. In a consortium, each company can manage the type of database they prefer (Oracle, Microsoft, IBM, MongoDB) and connect them through a blockchain-based network to ensure cohesion and availability while protecting the interests of the company.