Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#561
  1. What are the benefits of using a normal database instead of a blockchain?

A blockchain does not need to store large amounts of numerical data used in analytical processing. A database can store this data much better and process it faster as well since it does not require multiple nodes to run each piece of data.

If you don’t need the security, immutability, transparency and other benefits of a block chain, then a normal database will be sufficient.

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

Unnecessary expenditure and a lot of wasted resources from complicating things needlessly.

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

If there is only one writer, concurrency is not an issue and transaction order would be predetermined.

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#562

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

Flexibility in the ability to read and write information, modify past entries and change the rules and structure of how the data is stored. The same data and their history can be stored in multiple copies, and the database can be easily managed by a central authority.

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

It would be expensive to set up for not much benefit, it won’t provide all the flexibility that a normal database would (for making changes to past entries, or storing multiple copies of the same data and their history), and it might not be as easy to manage as a normal database (because there isn’t a central authority that manages the database).

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

Because the ledger needs to be distributed and at least another writer needs to be there to validate the work using a consensus algorithm. If there is only one single writer, then that would be the equivalent to having a centralised authority (which is the case for normal databases).

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#563

  1. It is fast and cheap to maintain.

  2. It would be expensive and inefficient.

  3. When you want a trustless database.

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#564
  1. Cheaper, easier.
  2. Expensive, unnecessarily complicated
  3. Having no more than one writer would be equal to having a classic centralized database, with central authority.
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#565
  1. It is much more cost effective, as well as having many projects before it to take from and develop a new framework if the benefits of BC aren’t necessary to the current DB.
  2. Speed would be slower because of the BC being used, as well as way more costly to start and develop upon.
  3. For security purposes; allocating the writing to 2 or more people makes security and transparency trust-less.
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#566
  1. They are faster, easier to operate and the knowledge needed to develop them is widely common.
  2. It is a waste of money and time. You’ll better use a traditional database instead
  3. Because the main reason to use a blockchain is to provide trustless transactions of any kind between different actors and preserve the integrity of the ledger that is public. Being the only actor you can trust yourself…
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#567

  1. What are the benefits of using a normal database instead of a blockchain?
    Faster, cheaper, lots of know how in the world

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It is expensive and time consuming, bad for the budget.

  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 no need for others to be able to change or update or add anything to the database

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#568

  1. A normal database is more efficient, fast and cheaper to operate.

  2. It would be inefficient, costly and time consuming.

  3. If there is only one user trust is not an issue, therefore a blockchain database is not required.

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#569
  1. Normal databases are cheaper to build and maintain. There are more developers and they are less expensive. They run faster.
  2. Running a blockchain for the sake of running a blockchain will simply be an unnecessary expense and cause frustration for the company employees and most likely the company’s customers as well.
  3. Using the blockchain would eliminate the ability to change data and increase security.
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#570

1.- Centralized control of informacion, efficiency and cost efective depending on the use case.
2.- It would generate a cost impact, lower efficiency and make the end result hurtfull to the business process due to it not solving the problem.
3.- Because the systems is based on multiple peers for recepcion of date - In this case if you only have one you would not be taking full advantage of the use case.

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#571

  1. cheaper and easier to use since its been there for ages.

  2. unnecessary overhead, wont justify the cost since its actually not needed and it will slow your work since its not easy to maintain or use with unrealistic reasons.

  3. to keep exact record in all parties since there interest is different otherwise the data is in one place and its safe there

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#572
  1. The benefits of using a normal database instead of a blockchain are that it is faster to query, cheaper and more efficient.
  2. The consequences of using a blockchain when you in reality don’t need one is it will cost more in expenses and work.
  3. There should be more than 1 writer to a database in order to justify a blockchain so that it is secure and trust less.
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#573
  1. Normal databases are more efficient and cheap compared to blockchain.
  2. The consequence is that your applications become very overcomplicated and inefficient.
  3. Because you need to trust all of the writers.
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#574
  1. What are the benefits of using a normal database instead of a blockchain?

Ease of setup and administration, commoditization skill set

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

Additional expense, slow performance

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

If there is no one to be in consensus with, this is just a centralized database. A blockchain brings together users with potentially multiple objectives and secures the immutability of the data.

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#575
  1. What are the benefits of using a normal database instead of a blockchain?
    Normal database is private and faster than blockchain. The owner of the database has full control of the data and confidential which suits most of the businesses
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It becomes complicated, expensive and inefficient.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain? If there is only 1 writer, this works better as a private database. Blockchain needs multiple writers to achieve consensus mechanism in order to validate the transactions.
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#576

  1. A normal database is significantly more performance and cost-efficient to run than an blockchain. There are more developers with experience setting up normal databases than blockchain, therefore maintenance and set-up costs are also lower. A normal database is a far simpler solution that a blockchain also.

  2. You could run into blown out costs and efficiency bottle-necks. There is a higher chance for mistakes and confidential information to be shared if you don’t set permissions up correctly. There is also set-up times which extends the opportunity cost as an alternative to setting up a normal database.

  3. If there is only 1 writer to a blockchain, you may as well have a regular database. Having only 1 writer would eliminate the benefits of running a blockchain. If you require consensus and decentralization, then a blockchain can come of use. However if there’s only 1 writer, they can publish whatever they want to the blockchain with no consensus mechanism to call out foul play.

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#577

  1. The benefits of using a normal database instead of a blockchain include unshared writing access, trusted writers, unified interests, and trust of a third party.

  2. Using a blockchain when you really don’t need one can result in unwanted trust of third parties and shared write access.

  3. There should be more than one writer to a database in order to justify a blockchain just to ensure security.

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#578
  1. The benefits of using a normal database instead of blockchain is:
  • that we use it when we need to know participants e.g. who issues a tx or signs data
  • lookups are faster
  • we use it to establish bussiness relations with our business parters that belong to a close business group (we need privacy & trusted third parties)

  1. Use of a blockchain when it is not needed leads to similar consequences as other inappropriate business decisions may. Firstly it is resource demanding/costly to implement a blockchain-based solutions & may be slower - speaking of syncing data to obtain data (e.g. of executed tx). If tx may come to late, not till certain expiry date, the business may fail - e.g. paying a container that must be payed in advance to be shipped. We can also lose our bisiness partners if trust is broken/payment not received.
    Rebuilt a business relation is not easy & this may cause the need to find another business partner.
    Besides we will still have the problem that blockchain has not solved the problem that we tried to implement it for, e.g. tx was not fast enough, we had our tx lately executed or exposed on the blockchain & we did not wanted to reveal it to the broad public (had no control over).

  2. There should be more than one 1 writer to a database in order to justify a blockchain, because if we have only 1 writer this is a centralised database, where data can be altered & no nodes that are supposed to verify the ‘state of the truth’ are needed - consensus is not needed.& consensus is what defines a blockchain - that we reach agreement about what is true.

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#579
  1. Cheaper. Much more knolegde and talent and history.
  2. A waste of time and money
  3. Because you dont need the verifications of a blockchain if there is only one superuser.
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#580

  1. What are the benefits of using a normal database instead of a blockchain?
    A normal database is more efficient, faster and changes are easier to implement.

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

  • Higher costs
  • Inefficient
  • Poor performance
  1. Why should there be more than 1 writer to a database in order to justify a blockchain?
    With more writers there can be more trust and transparency created. To have only one is a risk, it can be a single point of failure.
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