BigchainDB – Scalable Blockchain Database For Digital Assets?
BigchainDB is the newest database in the world with blockchain characteristics. I am sure you have heard of or at least come across the phrase ‘scalable blockchain database’. Well, to those of you who are yet to be in the loop on this new technology, anyone who uses that phrase is probably talking about BigchainDB. This new distributed database should help you achieve one million writes per second, which is comparison to other sources is rather impressive.
What Is BigchainDB?
BigchainDB is a decentralized database. It is helping improve organizational performance by helping companies make, as it says in the white paper, ‘one million writes per second throughput, storing petabytes of data, and sub-second latency’. I am sure that, just like me, you can hardly make out what this really is. So let me break it down for you.
Many of us have become accustomed to blockchain technology. This technology is characterized by its distributed control and irreversibility, along with the creation and movement of digital assets.
BigchainDB is a database that combines these powerful blockchain characteristics with the existing distributed database features.
Distributed databases have characteristics such as a flexible query language and efficient querying, permissioning system, and linear scaling in throughput and capacity depending on the nodes added.
Through combining all these characteristics, that is, those of the distributed databases and blockhain technology, BigchainDB is able to increase scalability and functionality.
Benefits Of BigchainDB
BigchainDB is good news to organizations and developers. The scalable blockchain database enables both organizations and developers to overcome the formerly limiting factor of having to prove concepts in their production systems. It helps them to scale over platforms and organize blockchain applications. This means that a database architect can improve the performance and capacity of a database as more nodes are added continuously.
Businesses can write and validate transactions as fast they can. This is because BigchainDB allows them to write as many transactions as they deem necessary, which get validated a millisecond later.
The scalable database complements other decentralized processing platforms like Ethereum and IPFS filing systems, filling the formerly existing gap in the dispersed blockchain stack.
Who Is It For?
BigchainDB is especially useful in instances that require high throughput, lower latency, and a wide storage space. These cases include tracking supply chains, records of provenance for digital assets, and consumer goods.
Usefulness Of BigchainDB
BigchainDB mainly solves the problem of scalability, which many organizations have been enduring in the use of blockchain technology. Finally, they can be able to create, store, release, and track large data sets distributed all over the globe.
Risks Of Adopting BigchainDB
BigchainDB is intensifying the use of blockchain technology. This has the eventual effect of disrupting the business environment and the operations of enterprises.
Ascribe is the brain behind BigchainDB. It is a company based in Berlin, Germany. It offers blockchain services that enable creators to register as well as track their intellectual property, as was founded in 2014. A unique cryptographic ID, which is stored in the blockchain, is provided to the creators on property registration. This ID creates an immutable link between creators and their work, giving them the freedom to make unlimited editions, share securely, and trace where they spread.
BigchainDB Final Words
BigchainDB is a product of Ascribe, a company founded to help give internet solutions to developers of digital property. Through BigchainDB, Ascribe brings yet another solution in the market, this time in the use of blockchain technology. For the first time ever, organizations and developers can achieve high scalability levels. With BigchainDB improving blockchain technology, the world of business is likely to change sooner rater than later.