Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#461

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#462
  1. it is cheaper to build, a lot of available resources, it can offer better speed, provides more control for the business and better adaptability for the business needs.
  2. expensive as it needs to be build to match the needs of the business, it will most probably not offer sufficient level of speed and hard to integrate
  3. if only one writer there is no need for trustless network/ecosystem as total control/trust is already given to this writer.
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#463

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

  2. Some of benefits are: database is more efficient, cheaper to build and faster to query information

  3. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?

  4. Consequence would be unnecessary cost and you wouldn t be able to maximize full business potential.

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

  6. If ther is only 1 writer there is no need for the trust aspect.

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#464

1.) The benefits are that it is faster (speed of transactions and query), cheaper, easier to use, and requires less memory. It requires less computational power and data is kept private.

2.) The consequences are that it is more expensive to run, it is slower at recording and retrieving data, and development times take longer. There is also the fear of adoption of a new technology and privacy is sacrificed.

3.) If there is only one writer to a database, then it is essentially one entity controlling it. There would be no decentralization and only one single source of truth. Thereā€™s no need for the system when there is less than 2 people involved.

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#465

  1. Cheaper, faster, easier, more privacy.

  2. Expensive, loss of money, loss of time, complicated structure.

  3. Consensus, transparency and security.Preformatted text

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#466
  1. What are the benefits of using a normal database instead of a blockchain? itā€™s faster, cheaper, and easier to implement and maintain.
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one? slower network, higher salaries for tech staff than needed.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain? there is no one on the system that the owner does not trust.
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#467
  1. itā€™s faster and cheaper to run. If you dont need security, transparency and immutability you dont need a blockchain.
  2. Higher cost, slower execution and limited functionalities/Changing possibilities.
  3. If thereā€™s only one writer itā€™s not a trustless system.
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#468
  1. What are the benefits of using a normal database instead of a blockchain?
    A trusted DB, like SQL, is a well known technology and you can find much more expert developers than if you had to build a BC. trusted DB offers better throughput rates (more efficient than a public BC, no need to broadcast changes to many nodes and waiting for consensus).
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    You will add costs and complexity to your project and you will hardly find/retain talents.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    The all point of BC is to allow everyone to interact with it, being it traverse the BC to find out data or build apps on it. BC is great in doing this because we can trust the protocol rather than then the entities operating on it. IF you have only 1 writer, than there is no need of the BC feature around security.
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#469

Blockchain Decision Tree - Reading Assignment:

Q1: What are the benefits of using a normal database instead of a blockchain?
A: The benefits of using a normal database instead of a blockchain are: less expense, less time involved in the development, currently there are more skilled technicians knowledgeable of normal databases than the blockchain.

Q2: What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
A: Ultimately the consequences of using a blockchain when the reality is that a blockchain isnā€™t required means a huge waste of time and expense.

Q3: Why should there be more than 1 writer to a database in order to justify a blockchain?
A: In order to justify using a blockchain database there should be more than a single writer to the database, meaning between the writers there may not exist the required levels of trust. The writers may require access to different data and areas of the database, the writersā€™ interests may not be unified, therefore the use of a blockchain would be advisable.

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#470
  1. What are the benefits of using a normal database instead of a blockchain?
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?

1- Easy and cheap to build and to maintain
2- More cost for the company, reduce speed and potential confusion within the company.
3- If only one person is writing to the database, you donā€™t need to reach consensus or a trustless system as offered by blockchain.

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#471
  1. Cheaper and easier to implement, faster.
  2. Extra cost.
  3. If there is only one writer, then you donā€™t have to worry about trust so the main benefits of using a blockchain are absent.
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#472

1.You have full control,privacy, 1 main server = less complicated, cheaper and easier to build and maintain.
2.Unnessecary spending of money and time.
3. No point in having a blockchain with 1 writer, the whole idea behind blockchain is that it needs to be trustless, transparent, decentralized.

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#473

1.)

  • Easier to integrate
  • More coast effective
  • No problems with rules and regulations

2.)
To integrate a blockchain in your businesses would be very expensive an time consuming.
Therefore it would be very uneconomical

3.)
Blockchain is a trustless database, which is based on consensus rules and several attendees.
if I never want more than 1 writer, then a blockchain is the wrong choice for my company here.

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#474
  1. What are the benefits of using a normal database instead of a blockchain?

It is more efficient for a smaller company where you know everyone is going to agree.

  1. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?

The process of using a blockchain when itā€™s not needed would make the business processes inefficient.

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

Because you want consensus and if you cannot count on agreement it would make sense to justify a blockchain.

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#475
  1. What are the benefits of using a normal database instead of a blockchain?
    A normal database is a cheaper, more efficient, and faster way to build a solution if you donā€™t need the security, immutability, and transparency of a block chain.
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    Wasted time, money, and then youā€™re stuck with a system thatā€™s hard to manage.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    There must be more than one writer to the blockchain to ensure security and consensus amongst the chain.
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#476
  1. What are the benefits of using a normal database instead of a blockchain?
    It is cheaper, more efficient and more experienced IT staff on the market so it is easier to develop
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    High costs, waste money and time
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    We need consensus for security. To achieve consensus we need more thn 1 user
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#477

1:The benefits of using a normal database instead of a blockchain are ; speed, efficiency and cost compared to blockchain.
2: Using a blockchain when you do not need to will be slower, more expensive , more difficult user interface.
3:There has to be more then one writer, to maintain trusted security on the info aspect.

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#478

It is cheaper, faster and easier, and efficient to use and operate. If your operation doesnā€™t require security, immutability, and transparency then use a normal database.
2. Speed of using it and it would be harder to change functionality and the rules. It would cost more as well.
3. The main objective of blockchain technology is to eliminate the middleman and make the whole process trustless while still providing transparency for all parties involved.

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#479

  1. A normal database would be faster to use and cheaper and easier to set up.

  2. It would be inefficient to use and lack some necessary features.

  3. When you have only one writer to a database, thereā€™s no point to have a blockchain, because the idea of blockchain is to remove trust from between writers through consensus algorithm.

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#480
  1. What are the benefits of using a normal database instead of a blockchain?

Simplicity, lower cost since less programmers needed, faster

  1. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?

Unnecessary complexity and paying people to do something that is not needed and negatively affecting bottom line

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

Because a single writer would obviously be unified and that person would be widely known and trusted

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