What is it about?
This book chapter explains how blockchain technology can be used to store data in a decentralized way, making processes faster and more secure by eliminating the need for intermediaries like banks. It covers the basics of blockchain, its advantages, challenges, and various solutions to these challenges. It also compares decentralized systems with traditional centralized databases.
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Why is it important?
The importance of this chapter lies in its detailed examination of blockchain technology and its potential to revolutionize data storage and security. By eliminating intermediaries and enhancing security, blockchain can transform various industries, from finance to supply chain management. The chapter also addresses the challenges blockchain faces, such as energy consumption and scalability, and discusses potential solutions, making it a valuable resource for understanding the future of data storage.
Perspectives
- Technological Evolution: The chapter highlights the continuous evolution of blockchain technology, introducing derivatives like directed acyclic graphs (DAGs) and gossip consensus protocols that offer alternative solutions to existing challenges. - Practical Applications: By providing real-world examples and proposing new architectures like the Multi-Platform Interoperable Scalable Architecture (MPISA), the chapter demonstrates practical applications and future directions for blockchain technology. - Comparison with Traditional Systems: The comparison between decentralized and centralized systems offers a comprehensive understanding of the benefits and limitations of blockchain, helping readers appreciate its potential impact on data security and integrity.
Dr. Enis Karaarslan
Mugla Sitki Kocman Universitesi
Read the Original
This page is a summary of: Data Storage in the Decentralized World: Blockchain and Derivatives, December 2020, Istanbul University,
DOI: 10.26650/b/et06.2020.011.03.
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