Blockchain Versus Database Overview
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Questions and Answers

What is the primary distinction between blockchain and Distributed Ledger Technology (DLT)?

  • Blockchain is less transparent than DLT.
  • Blockchain is a type of DLT, whereas DLT encompasses various types of ledgers. (correct)
  • DLT is a specific type of blockchain focused on security features.
  • Blockchain supports more complex transactions than DLT.

Which aspect of blockchain technology enhances accountability and transparency?

  • The verification of every interaction by authorized entities. (correct)
  • The ability to encrypt data for security purposes.
  • The solid technical foundation underlying the system.
  • The use of traditional systematic review methods.

Which of the following is a characteristic of systematic reviews compared to scoping reviews?

  • Systematic reviews must identify literature gaps.
  • Systematic reviews provide initial indications of research agendas.
  • Systematic reviews integrate empirical findings to answer specific questions. (correct)
  • Systematic reviews focus on emerging literature.

What is the main objective of conducting scoping reviews?

<p>To identify gaps in literature and suggest future research agendas. (C)</p> Signup and view all the answers

Why has blockchain technology generated significant interest across various sectors?

<p>For its potential to revolutionize multiple application domains. (A)</p> Signup and view all the answers

What is a primary challenge in the current health-care system regarding patient data?

<p>Providers often do not share records with each other. (A)</p> Signup and view all the answers

What technology is proposed to enhance the privacy of health records in blockchain?

<p>Zero Knowledge protocol (C)</p> Signup and view all the answers

How does blockchain technology contribute to robustness in health-care systems?

<p>By distributing data across multiple nodes. (B)</p> Signup and view all the answers

What issue is highlighted regarding the adaptation of technology in health care?

<p>Legislative requirements slow down technological adaptations. (A)</p> Signup and view all the answers

What is a significant feature of the proposed MedRec system for managing patient data?

<p>It allows patients to share data with any care provider. (A)</p> Signup and view all the answers

What is a key reason for choosing the Scopus database over Google Scholar in research?

<p>Scopus only includes research publications, excluding non-scholarly citations. (B)</p> Signup and view all the answers

What challenge does a trusted third party face in the data-sharing process among two parties?

<p>Finding a suitable third party can be complicated and sometimes impossible. (A)</p> Signup and view all the answers

In the current inter-bank transaction system, what complicates the transaction time?

<p>International transactions involve delays due to the need for third party banks. (B)</p> Signup and view all the answers

How can blockchain technology potentially improve trust between transacting parties?

<p>By eliminating the need for any third parties in transactions. (C)</p> Signup and view all the answers

What is one limitation of the current inter-bank transaction system?

<p>It can take several days for transactions between different banks. (A)</p> Signup and view all the answers

What is one of the significant advantages of using a decentralized consensus mechanism in blockchain technology?

<p>It enables all nodes to have the same level of access and capability. (C)</p> Signup and view all the answers

In what way does Ripple impact the traditional banking sector?

<p>By creating a global settlement network based on blockchain. (D)</p> Signup and view all the answers

What is a limitation of blockchain in its current form regarding banking transaction volumes?

<p>It could not currently manage the volume of transactions typical in banking systems. (D)</p> Signup and view all the answers

How is trust built in a blockchain system compared to traditional databases?

<p>By allowing transparency through decentralized access to information. (C)</p> Signup and view all the answers

What misconception exists about the confidentiality of data in blockchain technology?

<p>All data on a blockchain is completely transparent and public. (C)</p> Signup and view all the answers

Flashcards

Trust in Blockchain

Blockchains use a decentralized consensus mechanism where all participants verify transactions. This shared responsibility builds trust, as no single entity has control over the system.

Privacy on Blockchain

Blockchains are designed for transparency, not encryption. All transactions are publicly recorded on the blockchain.

Blockchain Consortium

A group of organizations forms a consortium to control a private blockchain and manage the cryptocurrency within it.

Blockchain for Interbank Payments

Blockchain technology is used to speed up inter-bank payments, replacing traditional, slow processes.

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Scalability of Blockchain

Blockchain's ability to handle high transaction volumes is currently limited, which can be a challenge for banking systems that process large amounts of data.

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Blockchain

A distributed database that stores information about transactions across a network of computers. It is used to track the ownership and transfer of digital assets, such as cryptocurrencies.

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Distributed Ledger Technology (DLT)

A technology where a shared ledger is distributed across a network of computers, enabling transparent and secure recording of transactions, and ensuring that all participants have access to the same information.

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Distributed Ledger

Any type of ledger (like a blockchain) that is distributed across a network of computers.

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Transparency and Accountability in DLT

The ability to trace any transaction back to its origin and verify its authenticity in a distributed ledger system. This provides accountability and trust.

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Scoping Review

A type of review that aims to identify gaps in the existing research on an emerging topic, define future research directions, and assess the size and nature of available literature.

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Trusted third party

The issue of relying on a trusted third party to facilitate transactions, which can be problematic due to difficulty in finding a suitable third party.

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Blockchain trust mechanism

A method for establishing trust between parties without relying on a third party.

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Inter-bank Transactions and Blockchain

The use of blockchain technology to improve inter-bank transactions, addressing the challenges of time-consuming and costly international transfers.

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Nostro Account

A type of bank account held by a bank in another bank, primarily for international transactions.

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Blockchain Application Domain Analysis

A comprehensive analysis of blockchain applications in various domains through the examination of research publications in the Scopus database. It involves a manual review to select relevant studies, focusing on research papers rather than publications about conferences or venues.

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Healthcare Data Silos

Traditional healthcare systems struggle with data sharing, leading to inefficiencies and privacy concerns. Patients' data is often siloed within individual providers, hindering access and collaboration.

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Blockchain in Healthcare

Blockchain technology promises to revolutionize healthcare by enabling secure and transparent data sharing. It allows patients to control their medical records and share them with authorized providers.

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Blockchain Robustness

The decentralized nature of blockchain makes it highly resistant to attacks, as data is spread across multiple nodes. Even if one node is compromised, the integrity of the network remains intact.

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MedRec

MedRec is a blockchain-based system developed by MIT researchers to provide patients with greater control over their medical data. It enables secure data sharing and enhances patient privacy.

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Challenges of Blockchain in Healthcare

While blockchain offers potential solutions in healthcare, adopting new technology can be slow due to complex regulations and the sensitive nature of medical information.

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Study Notes

Blockchain Versus Database

  • Blockchain technology aims for a decentralized environment, with no single entity controlling transactions.
  • Blockchain is a chain of time-stamped blocks, maintained collectively by participants.
  • Blocks store transactions, linked cryptographically.
  • New blocks are added to the end—ensuring immutability; existing transactions cannot be altered.
  • Blockchain is used in many applications: healthcare, supply chains, the internet of things, and higher education.
  • Blockchain is categorized under distributed ledger technology (DLT), though DLT is a more general category, and blockchain is just one example.
  • The current stage of blockchain technology is preliminary, with debate about its real value in comparison to a shared database.
  • Blockchain transactions involve digital signatures, guaranteeing authenticity through cryptographic mechanisms.
  • It presents features like immutable audit trails and distributed data control.

Scoping Review

  • A scoping review examined trends and volume of blockchain research.
  • Research volume has significantly increased in the last 5 years in several fields (e.g. Engineering, Law, Social Science).
  • Areas such as finance and cryptocurrencies and healthcare and IoT show considerable research focus.
  • Scoping review methods provide a systematic process but aren't a definitive, specific method

Application Domains

  • Supply Chain Provenance: Blockchain tracks product flow, offering transparent visibility and trust among parties. Walmart utilizes IBM Hyperledger for food traceability. Everledger uses blockchain in the diamond industry.
  • Inter-Bank Transactions: Current banking systems take days for international transfers. Blockchain offers potential for faster and cheaper international transactions.
  • Health Care: Blockchain could improve health record sharing, reducing administrative burden and improving collaboration among healthcare providers. MedRec is an example of using blockchain for medical data.

Blockchain vs. Database

  • Trust Building: Blockchain's decentralized nature fosters trust, as multiple participants verify transactions. Database relies on a central authority, potentially susceptible to single points of failure.
  • Confidentiality and Privacy: Blockchain may not offer inherent encryption; although transactions are cryptographically signed, data may not be protected from unauthorized access if the public blockchain is used. Database systems utilize permissions and access controls.
  • Robustness/Fault Tolerance: Blockchain is robust due to distributed storage. Database fault tolerance depends on the design.
  • Performance: Blockchain may be slower than databases, depending on the type of blockchain (and the implementation) and the data being stored.

When to Use Blockchain

  • A decision tree helps determine when to use blockchain versus database, considering multiple parties, trust deficit, and immutability requirements.
  • Multiple parties with potential trust issues, where immutability is important, are good use cases for blockchain.
  • Blockchain is a good choice when scalability, immediate update, and data durability are not major requirements, while data immutability is needed.

Existing Implementations

  • A study of 100 papers revealed most were theoretical, not practical implementation papers.
  • 25 out of 34 specific use case papers used blockchain appropriately to address the identified characteristics of the real-world problems.
  • Additional research about the appropriate use of blockchain is also being implemented in areas such as productive technology for supply chain & power grids. Blockchain technology may not be the best answer in private/closed systems such as smart homes.

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Blockchain vs Database: A Critical Analysis PDF

Description

This quiz explores the fundamental differences between blockchain technology and traditional databases. It covers how blockchain provides a decentralized environment, ensures transaction immutability, and its applications across various sectors. Participants will also learn about the basics of distributed ledger technology and the importance of cryptographic mechanisms in maintaining data integrity.

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