Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#541

  1. A normal database costs less to develop and it uses trusted 3rd party.

  2. It would lead to inefficiency due to unnecessary business spending, too-much time spent on development, and un-used functionality of the blockchain.

  3. Due to the immutable nature of blockchain, it protects transaction data against the risk of unintended data change by multiple writers. If there is only 1 writer, this feature from blockchain may no longer be essential.

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#542

  1. Normal database is beneficial where you have a shared interest in using editable databases. Whether that’s purely internal or using a 3rd party services.

  2. You’re likely to end up with silo’d processes that don’t benefit the organisation as a whole (?) and probably extra work in trying to update the ledger where it would’ve been easier to simply update a database entry. With regards to third party access, not only will their permissions need to be assigned, but they’ll also likely need training when it comes to using a database system they’re probably unfamiliar with. Technical debt and overkill. Plus the unnecessary sunk cost of developing and integrating an unfit-for-purpose system / process.

  3. If there’s only one writer, all updates and amendments can be attributed to the one writer and the one writer would be responsible for maintaining the DB. Blockchain is for use in a trustless network of multiple users.

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#543
  1. Normal databases allow for faster queries, lower development and running costs and allow for mutable data entries.
  2. Potential legal ramifications of making data that is legally subject to certain deletion criteria immutable and complications that may arise from having mission critical data mixed in with such data. Also wasted resources in general i.e. lost development time, loss of funds from higher running costs and increased development times and loss of computational and network resources.
  3. With only one party reading/writing to the database there is no issue of consensus or trust between parties to address.
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#544

  1. Lower costs and faster.

  2. Waste of time and resources, higher costs.

  3. Because of security and transparency.

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#545
  1. Normal databases are faster and cheaper
  2. Expensive, cumbersome, added costs of resources on training to use, supplementing with normal database
  3. To achieve consensus
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#546

What are the benefits of using a normal database instead of a blockchain?
Cheaper and more efficient

What do you think the consequences would be of using a blockchain when you in reality don’t need one?
You would have added a non needed expense and could be less efficient

Why should there be more than 1 writer to a database in order to justify a blockchain?
Because if only 1 writer is needed then you might as well go without using blockchain for a database, the benefits of using blockchain are transparency, security and having multiple people creating and reading the database.

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#547

  1. The benefits of using a normal database over a blockchain is, a normal database is less costly, quicker and easier.

  2. The consequences of using a blockchain when its not necessary is primarily the cost of re configuring the system, it will also effect the speed of use and is more complicated to change anything on the network.

  3. There should be more than one writer to justify a blockchain, because you are trusting one person with the network so a blockchain would be pointless, and the ledger would not then be distributed.

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#548
  1. What are the benefits of using a normal database instead of a blockchain?
    Normal DB is cheaper, faster, known tested infrastructure
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    High infrastructure, development and maintenance costs. 3. Why should there be more than 1 writer to a database in order to justify a blockchain? We do not need the blockchain if we have only one trusted writer. No need for consensus.
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#549

1.For large amounts of data Db’s are more eficient, allowing easier management due to C.R.U.D. making implementation and maintainance faster & cheaper.

  1. It would be inefficient and expensive.

  2. Blockchains are expensive to create so if there is only 1 writer to the database there’s no trust issue, however if there multiple writers, trust & contestancy issues come into play which is where the expense of creating a blockchain needs to be considered

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#550

  1. What are the benefits of using a normal database instead of a blockchain?
    easier to program, more devs with experience to make and mainain the database, quicker, more energy and time efficient.

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

more costly and inefficient

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

If there is only one individual contributing to the db that eliminates the need for a trustless system

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#551
  1. Cheaper, easier and faster.
  2. Higher costs, slower and harder to change.
  3. If you have only one writer then you don`t need blockchain that is trustless. You need it if you have a third party.
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#552
  1. The benefits of using a normal database over a blockchain are efficiency, cost-effectiveness, and privacy.
  2. Some of the consequences of using a blockchain when you didn’t need one would be costly, and an ineffective allocation of resources, as well as privacy concerns.
  3. only having 1 writer to a database would imply that you would have to trust that one writer. The point of a blockchain is its transparency and trustlessness.
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#553

  • What are the benefits of using a normal database instead of a blockchain?
    A normal database is faster and cheaper and allows for easier management due to CRUD capabilities.

  • What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It would be less efficient and add additional expenses.

  • Why should there be more than 1 writer to a database in order to justify a blockchain?
    Blockchain is meant for multiple users to be able to create and read on the network…having only 1 writer defeats the purpose.

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#554
  1. Less expensive . Not time consuming. is not an experiment.
  2. Very expensive. May not yield desired result. Not usable. May be a waste of time.
    3.Decentralised . Consensus mechanism for peer nodes.
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#555
  1. It is faster, cheaper and easier to get developers for it.
  2. Waste of money and time, because blockchain is slow and expensive to run.
  3. Because of security. Blockchain is trustless. If you have one writer you don’t need to use blockchain. It sort of corellates to previous question. Waste of time and money
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#556
  1. Some of the beneifits of using a normal database instead of a block chain are that a normal database is faster and cheaper.
  2. If not really needed a block chain could be to expensive and not time efficient.
  3. If there is only one person adding infomation to the database there is noone to dispute it a blck chain is not needed.
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#557

Blockchain Decision Tree Homework Assignment

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

Lower cost to integrate and upgrade. Better performance and more control over data and permissions for users.

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

Getting fired because you spent way too much money, it runs slow and everyone can see all your private file data when they weren’t supposed to .

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

Because one of the strengths of blockchain is Proof of Work by consensus of multiple nodes (writers). This allows us to have trust in the code instead of a person, which would be the case if there was only 1 writer, thus defeating the purpose of a blockchain.

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#558

One of the core functionalities of a blockchain is security and transparency, if there is only one writer and that writer is trusted there is no need for additional features.

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#559

Normal databases are cheaper and faster.

Too expensive, too slow.

Cause it’s based on consensus concerning trust within a network. Otherwise, no need.

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#560

Normal databases are cheaper and faster.

Too expensive, too slow.

Cause it’s based on consensus concerning trust within a network. Otherwise, no need.

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