in BlockChain by
Q:
Blockchain vs Traditional Databasev

► Click here to show 1 Answer

0 votes
by

Properties Blockchain Traditional Database

Operations Only insert operations Perform C.R.U.D operations

Replication Complete replication of block on very peer Multi-master or Master-slave

Consensus Majority of peers agree on the outcome of the transactions Distributed transactions (2 phase commit/Consistency vs Availability)

Invariants Anybody can validate transactions across the network

Business Value of Blockchain

From a business standpoint, a blockchain can be defined as a platform where peers exchange value / electronic cash without the need for a centrally-trusted arbitrator.

For example, for cash transfers, banks act as a trusted third party. In financial trading, a central clearinghouse serves as an arbitrator between two trading parties.

Disintermediation allows blockchain to be a decentralized consensus mechanism where no single authority is in charge of the database.

Decentralization provides quicker transaction speeds, cost savings, and greater trust.

BlockChain
Learn More with Madanswer

Related questions

+2 votes
asked Aug 14, 2019 in BlockChain by rahulsharma
...