Blockchain Decision Tree - Reading Assignment

Blockchain Business Course
#161

  1. Normal databases are cheaper and faster.

  2. It is expensive and there is a waste of time and money.

  3. If there is only 1 writer, then surely you need to use a regular database because one individual has full control (like a centralized system).

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#162

LINK IS STILL BROKEN

Note that Iā€™m working from this link

because I think the original is now unavailable
(Iā€™ve just posted a topic on this)

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

What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
Every horror story you would get from being an early adopter, massive expense, unreliablity, slow speed , difficult to justify if the business case was not there

Why should there be more than 1 writer to a database in order to justify a blockchain?
Yes, the whole point is to justfy security, and if only one person is using it no security is needed

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#163
  1. What are the benefits of using a normal database instead of a blockchain?
    Speed
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    Cost, time
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Consensus when writerā€™s interests may not be unified
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#164
  1. a normal database is less expensive. donā€™t have to pinpoint problem areas to fix. its cheaper and runs faster as well.
    2.it will be timely and high cost.
  2. it is important to have more than one writer. for verification purposes so information can be shared and making sure the data is correct.
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#165

  1. Finding developers for a normal database is easier and a normal database is fast ,efficient and cheaper.There are many project to look back on to see how things were done. Blockchain is used for transparency,immutability and security. One can use a public,private or hybrid blockchain depending on your objective.

  2. Much higher cost and a longer period to complete the project.

  3. Having one writer there is no trust,it is more centralized. With more than one writer there will have to be consensus.

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#166

  1. The benefits of using a normal database instead of blockchain can be that itā€™s cheaper, faster, and easier to find developers.

  2. The consequences of using a blockchain when you donā€™t need it can be more expenses, and a lot of lost time.

  3. There should more than one writer to a database in order to justify a blockchain because with one writer there is no need for consensus, you need more than one person for trust to be involved.

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#167

Speed and cost

wasted maintenance costs, time and effort

consensus requires more than one entity

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#168
  • What are the benefits of using a normal database instead of a blockchain?
  1. They are cheaper to develop with many stable and industry efficient option
  2. There are hundreds of thousands of successful implementations around the world
  3. There is an extensive amount of industry knowledge and experience readily available.
  4. Most Application software already cater for he standards of most normal databases
  • What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
  1. It will be unnecessarily expensive with regards to development
  2. It would be time consuming due to the technical complex nature of Blockchains
  3. It would be hard to find the necessary skilled resources as it is a relatively new area of technology
    It would be unduly time consuming for the organisation
  • Why should there be more than 1 writer to a database in order to justify a blockchain?
  1. One of the foundational requirements for a Blockchain development is that there is a need for shared write access to database
  2. If only one writer is the user then the need for independent real time transparency does not require a Blockchain. The 1 writer controls and trusts his own data.
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#169
  1. What are the benefits of using a normal database instead of a blockchain?
    general speaking, it could be and often is faster and cheaper (among others due to less developer capacities in that space)
  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    longer time and higher costs for a project and a solution will not find the necessary commitment/acceptance of the business
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Consensus with only 1 writer doesnā€™t make sense. Having only 1 writer it is trusted by definition as there is only one participating entity
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#170

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

A normal database can be more effective and finding particular data sets, faster and less expensive than a normal blockchain solution.

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

A consequence would be building a bunch of difficult to use systems that cost a lot of time, money and effort to develop, but you cannot actually benefit from.

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

If you only have 1 writer then that writer is the trusted authority, which defeats the purpose of using a blockchain.

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#171
  1. cheaper, easier, faster
  2. opposite of 1
  3. one writer means you already have control of the security?
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#172

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

In order to create a true distributed ledger, has it means, must distribute the database into more than 2 participants (nodes), a blockchain managed by 1 ā€œwriterā€ is essentially the same has a traditional database, to bring the true functionality of a blockchain is the ability to have a distributed ledger verified by many participants (nodes).

Hope you find this useful! :slight_smile:

If you have any doubt, please let us know so we can help you!

Carlos Z

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#173

  1. Faster and less expensive with already exsisting skills set.

  2. Firstly it would be very costly plus the cost of maintaining.

  3. Because security isnā€™t an user if there is only One writer of a dtat base, Transparency and security

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#174
  1. What are the benefits of using a normal database instead of a blockchain?

Normal databases are in general cheaper, faster and more efficient in usage. It is also easier to find skilled people to create and maintain normal databases over a blockchain. Furthermore there are still few blockchain project done so there is less information available to learn from and most blockchain projects need to learn by doing.

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

The organization would incur more costs, processes might become less efficient and slower then in comparison to when they would have used a normal database. They might run into longer term trouble due to a lack of available skill within the organization.

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

There is no reason for a blockchain with only 1 writer to the database because there is no need for a third party to audit the data in the database. You would be looking at other security measures.

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#175

What are the benefits of using a normal database instead of a blockchain?
Easier, cheaper, faster

What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
Inefficiency. (More costs, worse performance.)

Why should there be more than 1 writer to a database in order to justify a blockchain?
Because there is no trust issue.

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#176
  1. it is easier, faster and cheaper than a blockchain
  2. more expensive and slower in use
  3. because of transparency and security
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#177

  1. What are the benefits of using a normal database instead of a blockchain?
    Faster transactions. Cheaper to build and maintain.

  2. What do you think the consequences would be of using a blockchain when you in reality donā€™t need one?
    High waste of human resources, time and money.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    If all writers are trusted , a blockchain is not needed, because a regular database with shared write access can be used instead. If two writers are to use the same information, it is vital that they are consistent as one could be using outdated information or could be over-writing what the other is currently writing. If there is only one writer, that person is the only one that has the power to write. However, when more than one exists, trust, accountability and traceability becomes a factor.Therefore the use of the blockchain would be advisable.

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#178
  1. an SQL database is fast, much cheaper and a well known tool
  2. more costs than necessary, more time consuming processes
  3. with only one writer the security is no issue, interests are automatically unified.
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#179

Blockchain Decision Tree - Reading Assignment

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

Questions a company must ask to assess if they need the benefits of blockchain Technology below:-

  • Security
  • Immutability
  • Transparency
  • Tractability
  • Cost efficient long run (no intermediaries)

If the answer is NO, a Normal database is like SQL, No SQL, or Graph Database would be:

  • Efficient
  • Fast
  • Easier by managed DBMS
  • Central servers
  • DBMS are Cheaper to use than a blockchain database, if the above blockchain benefits is not required.

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

  • Incurring excessive costs due to shortage of developers to implement Blockchain.

  • Slower recording and retrieving of transaction data.

  • Increased need for computational power and energy consumption

  • Wasted Money, Time and Resources that could be invested elsewhere.

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

  • If there is 1 state-writer, then a blockchain does not provide any additional guarantees than a regular database. A normal database would be more suitable as it is more efficient in terms of performance.

  • If there is more than 1 state-writer we take another route. The question then becomes, is it sufficient to have a online TTP (Trusted Third Party), or in other words, does it need to be tamper-proof. If the application cannot rely on a single trusted entity we can further move forward to see if we still need a blockchain. Otherwise, a blockchain is not required; it would be more efficient in terms of performance to rely on a centralized entity.

  • If the state writers do not trust each other, then the right technology to be used is a permissioned blockchain.

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#180
  1. Cheaper, faster, easier to use, able to update.
  2. Less efficiency, increase time, waste resources, increase cost.
  3. More than 1 writer to a database in order to justify a blockchain because two or more writers give more trustless condition than a sole writer.
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