Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#301
  1. What are the benefits of using a normal database instead of a blockchain?
  • It is faster, low cost and easy to query.
  1. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
  • Harder to change functionality and more expencive.
  1. Why should there be more than 1 writer to a database in order to justify a blockchain?
  • For transparency and for it to be trustless.
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#302
  1. A standard database is quick, efficient, and generally cheaper than blockchains.
  2. The consequences of using a blockchain could be unnecessary increased costs along with slower database speeds.
  3. If there’s only 1 writer, then decentralization isn’t needed. You can’t have a decentralized blockchain with only 1 writer.
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#303
  • Its easy to find resources to build and maintain a normal databases
  • Cheap, fast and efficient

Becomes inefficient, time consuming, expensive and leads to poor resource management.

when there are multiple writers the need for consensus, trusted 3rd party arises, where blockchain is justified.

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#304
  1. What are the benefits of using a normal database instead of a blockchain?

Answer: Easier to Write, easir to read, adding functions, cheaper, privacy

  1. What do you think the consequences would be of using a blockchain when you in reality don’t need one?

Answer: Loss of privacy, high cost, loss of functionality options

  1. Why should there be more than 1 writer to a database in order to justify a blockchain?

Answer: Being trustless comes at a cost.

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#305
  1. Normal databases have been around for a long time and they provide a vast network of solutions and expertise, at the same time they are fast, efficient, and inexpensive to run and maintain. Blockchain can provide a solution for use cases in needs of immutability, decentralization, and transparency.
  2. Starting a blockchain implementation will require specialized expertise, which may not be readily available, extra time, and cost.
  3. f there is only one writer, then there are no issues with authorizations, validation of identities, and overall trust, and in this case, is best to use a normal database.
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#306

Response:

  1. Normal databases are a lot cheaper to build in comparison to blockchain. Entry level skill is sufficient and doesn’t require you to learn new languages to develop.
  2. If you create a blockchain solution without needing one, you’ll be wasting time and money in the process. It’s not efficient to do so.
  3. If there is only 1 writer providing the input to the database, they control all consensus on the blockchain itself and can always change it to what they would want it to look like. Having 2 or more provides and shows trust that there aren’t any wrongdoings with the transactions.
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#307

  1. The benefits of a normal database instead of a blockchain has everything to do with design and purpose. A database storage structure is customized, user friendly, safe, stable, speedy and voluminous. A database facilitates quick storage and instant retrieval of information. Inaddition, it has an administrator, it’s central, permissioned, scaleable, non encrypted, relational, mutable and easy to backup.

  2. The consequences of using a blockchain when its not needed can create major difficulties and unwarranted expenses for the buyer. They will have an architecture which will not satisfy their needs, depending on the purpose to be fulfilled.

  3. There must be more than one (1) writer to a database to justify blockchain because data is not recorded once but thousands of times. The data is not centralized alluding to many nodes to facilitate verification, therefore more than (1) one writer is necessary to facilitate a blockchain.

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#308
  1. What are the benefits of using a normal database instead of a blockchain?
    The benefits could be that there are more suppliers, with more history, so DB should be easier and cheaper to maintain and develop. For example I as a manager for sure will be deciding to use databases as long as it is possible, since it is easier to find engineers to work with them, its easier to find suppliers, and so on.
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    I think they could be higher costs on the long run, or maybe even security breaches for using public blockchains, there could be many.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    because with a blockchain any actor or node could add a new block to the blockchain, even with permissioned blockchains
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#309

  1. What are the benefits of using a normal database instead of a blockchain?
    Cheap, fast and efficient.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Expenses and time wasted. Two resources businesses don’t want to lose.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    To be able to have consensus and trust.

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#310
  1. A normal database would be much cheaper and easier to obtain, provided all of the parties whom are allowed write access don’t require an extra layer of trust between them.
  2. It would be difficult to maintain.
  3. A database that is only accessed by a single user has no need to employ a blockchain solution; there is no consensus to be made and no extra security required.
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#311

  1. What are the benefits of using a normal database instead of a blockchain?
    Faster, cheaper,more resources available -> more skilled people available

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    More expensive, slower.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    If there is only one writer there is nobody to contest him so he would be the sole trusted one therefore no need for a BC.

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#312
  1. A normal database is much more efficient and it is easier to find skills
  2. It is slow and cumbersome and you might incur more expense
  3. A blockchain depends on more than one person to verify information
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#313
  1. Normal database have Flexibility, greater organisation, data consistency and it simplifies the database design.
  2. The problem are high energy cost, difficult process of integration and implementation’s high cost.
  3. With multiple writers - there needs to be more than one entity which generating that modify the database.
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#314
  1. What are the benefits of using a normal database instead of a blockchain?
    Normal database may be cheaper to maintain and there are also many people that are skilled in the normal database that can maintain the database.
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Potentially costly, lack of technical support and have incompatible / lack of interoperability with the existing system.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    That’s when you need to have a consensus system that may require transparency in an environment where people’s objectives / interest are not 100% aligned (e.g. their own profit incentives). If only 1 writer is required to write to a database, there is no need to run blockchain nodes for it.
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#315
  1. faster, more control
  2. Overcomplex Redundant, structure. Not a useful way to spend one’s resources
    3.With only 1 writer there is no need for consensus, eroding any trust. defeating the point
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#316

  1. What are the benefits of using a normal database instead of a blockchain?
    Answer: cheaper, faster, easier to manage and build, high performance, ease of integration with other systems, easier to find skilled programmers, more certainty about laws/regulations, no crypto needed for consensus.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Answer: Wasting money and resources, potential failure of project and firing of executive who made the decision.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Answer: Because if one person controls the data written to the DB either way, the primary benefit of blockchain (decentralized ledger) is null and void.

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#317

  1. Normal databases are more efficient, faster and cheaper to build than blockchain databases, because the skillset required for a normal database is more widely known and we have many past examples that we can look at for inspiration.

  2. If you choose to use a blockchain database when you don’t need one, then you will find yourself spending more time and money on a solution that has no greater benefit than that of a normal database.

  3. There should be more than 1 writer to a database in order to justify the need for a blockchain. One of the main uses for blockchain technology is to eliminate untrustable third parties. If you only have 1 writer, then presumably that writer is a trusted member of the ecosystem and thus there is no need for the increased credibility that mulitple writers would bring.

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#318

1. What are the benefits of using a normal database instead of a blockchain?

  • Easier and cheaper to build a solution
  • Competency & Skill is easier to find vs. lack of experience
  • More resources available
  • Easier to secure from third parties

2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
Waste of time, money and ressources

  1. Why should there be more than 1 writer to a database in order to justify a blockchain?
    In order to eliminate any unknown or untrusted middleman (person or organization) while still providing transparency for all parties, validation of any information that is being passed, and immutability of the blockchain once it is created.
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#319

  1. What are the benefits of using a normal database instead of a blockchain?
    Lower costs, it is faster than using blockchain.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Wasting money on fancy technology you dont actually need.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    With one guy you dont need blockchain. You have to trust him. With blockchain you have plenty entities that dont know each other but they trust in consensus.

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#320

Reading Assignment: Blockchain Decision Tree

There are more people with expertise in traditional databases making it easier to find qualified developers. Traditional databases excel at storing and retrieving information, making them more efficient than blockchain in certain situations.

Using blockchain when it is not needed can lead to additional development costs, slower processing time, and larger infrastructure overhead.

If only a single source needs to be able to write to a database it’s much more efficient to use a traditional database with access controls as you are able to eliminate some of the overhead that comes with maintaining consensus and “trust-less-ness”.

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