Likely, Blockchain can be defined as a type of database, purposed to securely store data. Unlike most of the database, blockchain uses blocks to collect data together in groups. Generally, the blocks have a set of storage capacity, and once they are filled they are chained to a new block, creating a data chain; hence the name “blockchain”. The security aspect of this database has greatily resulted to its positive dependency in the 21st century.
Bitcoin’s firm has positively risen in the past few years and maintained dominance from the strong security encryption of data to the financial information. Additionally big institutions such as Amazon, Baidu, Aon, Anthen and Ant Financial have greatly invested in offering Blockchain and Database services; hence confirming the positivity growth and legitimacy of the database in the future.
Historically, Blockchain, was introduce-d in 1991 by a group of researchers. The target use of the database was to timestamp digital document to eliminate tampering or backdating options. However, its acknowledgment was minimal until 2009; when Satoshi Nakamoto created the digital cryptocurrency Bitcoin. Nakamoto made took advantage the blockchains unique encryption of recorded data, on a shared file.
The unique encryption is primarily enable-d by the structural features of the block namely; hash, data and hash previous block. Collectively, Blockchain and Database is an interesting and highly resourceful database for both institutions and personal data storage. This conclusion is based on the increased digital transition and increased cybercrime incidents. In other words, Blockchain and Database is one of the currently know-n secure type of database; hence the advocacy of using it to keep information locally and virtually safe in the cloud storage.
The primary difference between Blockchain and Database is centralization. While all records secured on a database are centralized because each participant on a blockchain has a secured copy of all records and all changes so each user can view the provenance of the data.
If we compare the two; the first thing that you will notice is how authority works. Blockchain is designe-d to work in a decentralize-d manner, whereas the databases are always centralize-d. This unique feature of blockchain gives it the leverage it needs to become the next generation of technology.
Decentralization brings in a lot of implementation changes to the current systems and processes used by the different industries. It empowers networks to work independently and removes any need for centralized control.
Databases, on the other hand, function completely based on the centralized aspect. No traditional database is powere-d by decentralization. If you are specifically looking for a decentralized database, then blockchain falls directly into the category.