Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#61
  1. What are the benefits of using a normal database instead of a blockchain?
    Benefits are :
  • Proven Standards
  • Resources, people skills are more readily accessible to find for hire
  • Operationally more Cost-Effective
  1. What do you think the consequences would be of using a blockchain when you, in reality, don’t need one?
  • May result in a waste of time, effort, resources required to implement blockchain; that can be very costly
  • Unexpected outcome and disappointment
  • The feeling of regret for implementing permission-less network and taking away central control over the database
  1. Why should there be more than 1 writer to a database in order to justify a blockchain?
  • The purpose of Blockchain is to establish a transactional consensus in the public ledger network amongst multiple actors/writers. Therefore, having a single point of control defeats the concept of blockchain and therefore increases risks often found in traditional transactional databases; when BFT consensus is absent.
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#62

The decision tree link does not work anymore.
https://medium.com/@Eleni.Steinman/does-your-project-require-a-blockchain-follow-this-decision-tree-30e63c602aae

You may use this below:

image
image800×450 27 KB

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#63

@filip Hi Filip, The decision tree is not available anymore (error 404) It concerns the course : “Blockchain Business Masterclass” ; section : “Hyperledger in Business” ; page : “Reading assignment: Blockchain Decision Tree”. The link unavailable is : https://medium.com/@Eleni.Steinman/does-your-project-require-a-blockchain-follow-this-decision-tree-30e63c602aae
I take this occasion to send you my congratulation for your excellent courses and my best wishes for a happy new year :heart_eyes:
With warmest regards from Switzerland, Chantal

#64

  1. Using a normal database instead of a blockchain has better performances. Furthermore, it is cheaper to create, easy and quick to install, easier to update the code with new versions, you can update and erase data if necessary, you can easily find engineers and you have full control over the permissions and roles of everyone.

  2. If you use a blockchain when you in reality don’t need one, you will create useless delays and expenses when realizing the project and you will get tools with less performance.

  3. There should be more than 1 writer to a database in order to justify a blockchain, because if you have only one writer it is not distributed and it wouldn’t make sense to use a consensus protocol.

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#65

Thank you very much and happy new year to you as well!

I will check out the error and resolve it asap. Thanks for letting me know :slight_smile:

#66

  1. A normal database is cheaper and more efficient than a blockchain. There is no need to train or hire new employees. Chances are that your business already uses a normal database. It is very easy to change data in a traditional database because there is no need for consensus.

  2. The most obvious consequences when insisting on a blockchain are higher cost to develop and maintain, difficulty to integrate with existing systems, less efficiency than before and in the worst case, being stuck in the status quo, because the consesus in order to make a decision can’t be reached.

  3. If there is only one person with write access there is no need for verification or consensus, because the writer can make all decisions without any others, hence a blockchain would be a waste of resources.

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#67
  1. Speed of transactions and queries, lower operational costs, more privacy of data.
  2. Excessive and unnecessary costs, slower recording and retrieving of transaction data.
  3. Blockchain uses consensus to prevent multiple actors/writers from writing dishonest transactions such as double spending through trust-less mechanism. If there’s only 1 writer there is no consensus needed.
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#68

  1. Using a normal database instead of a blockchain has advantages such as speed, reduced costs, and simpler maintenance.

  2. The consequences of using a blockchain when you really don’t need one would be slower transaction speeds, unnecessary complexity, and increased costs.

  3. If you have only one writer, then the database is centralized and there is no need for a blockchain architecture to come to consensus about what constitutes a valid addition to the database.

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#69

  1. The benefits to using an existing database as opposed to a blockchain are the skills for blockchain are rare, need to intergrate a new technology into a working system a serious undertaking, don’t fix what’s no broken

  2. If a blockchain is introduced where it is not required, the distribution, cost and new overheads will impact the business negatively

  3. Their should be more that 1 writer to a database to justify blockchain because it will be the businesses point of failure, you cannot rely on just one person, a team with interoperable skills sets is needed

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#70

Blockchain Decision Tree - Reading Assignment

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

  • traditional databases are easier and cheaper to build and manage
  • traditional databeses often are faster

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

  • waste of time and money
  • inefficiency

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

  • missing usecase for blockchain
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#71

  1. What are the benefits of using a normal database instead of a blockchain?
    Normal databases are easier, cheaper, faster and more efficient as blockchain. If security, transparency and immutability is not the main concern the use of a normal databse is on hand.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Higher cost, inefficient processes, higher effort required (programmatic and use), in general a wast of resources.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    With multiple writers security, transparency and immutability are key. In this case it is not necessary to trust the entity writing to the chain you can verify and proof.

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#72

1 What are the benefits of using a normal database instead of a blockchain?
cheaper maintenance and scalabilty are the benefits of traditional databases

2 What do you think the consequences would be of using a blockchain when you in reality don’t need one?
High cost to maintain and slow efficiency.

3 Why should there be more than 1 writer to a database in order to justify a blockchain?
In the case of a malicious attack or if a Node went down if there is more than one writer/Node then consensus can still be reached so as high availability continues.

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#73
  1. Normal database is cheaper and more efficient than blockchain.
  2. The biggest consequence of implementing blockchain when there is no rear use case is lost of resource that was spent on implementing it.
  3. If there is only one writer there is a trust-less environment. If there are more writers, there must be trust between those writers, what brings potential use case of blockchain.
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#74

1. What are the benefits of using a normal database instead of a blockchain?
Cheaper to install software if required, CRUD is easier, quicker, no consensus required to make changes.
2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
Depending on the bc, the data stored maybe accessible to the wrong people, confidentiality, security, especially on a public blockchain when everyone can see all the transactions, overspending.
3. Why should there be more than 1 writer to a database in order to justify a blockchain?
Trust and validation.

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#75
  1. What are the benefits of using a normal database instead of a blockchain?
    Cheaper and easier to query
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It would waste money and time.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    To ensure there is consensus and no one controls more than 51% of the nodes.
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#76
  1. What are the benefits of using a normal database instead of a blockchain?
    Normal databases are efficient, faster, cheaper than a blockchain. If you trust all parties, don’t need immutability and transparency, you are better off with a normal DB.
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    More expensive up front, slower processing time, harder to make changes down the road.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    If there’s only one writer, everyone is trusting one person. Then you might as well use a traditional DB.
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#77
  1. What are the benefits of using a normal database instead of a blockchain?

when talent is difficult to find, limited budgets

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

unnecessary spend.

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

no need for transparency and security(sometimes) if only one writer.

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#78

A non-blockchain database tends to be easier, faster, cheaper and more efficient; if your business has no need for higher security, transparency, and immutability a non-blockchain database would be preferable.
2.
Increase in the expenses to run and maintain the database, shortage of qualified professionals and tools, slower response in retrieving data and effectuating transactions, impossibility to execute CRUD, less efficient.
3.
If there is no need for decentralization, a blockchain wouldn’t be justified, once you don’t need to trust other writers and sacrifice security.

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#79

Non blockchain database is easier and cheaper to develop and use than blockchain database. If you don’t need transactions to be public, don’t need to control functionality, trust all the writers and don’t require shared access, don’t spend the time and money on a blockchain.

If you spend money on a blockchain when you don’t need one you will be tossing a considerable amount of time and money into a black hole b/c they are expensive to develop and there are not a lot of precedents to refer to.
If you only have one writer to the db then you already have transparency, security and consensus.

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#80
  1. Normal database is efficient, fast, easier and cheaper to use than a blockchain database.
  2. Higher cost, harder to change functionality and rules, speed of use.
  3. Because of transparency and security.
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