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.</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.</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.</p> Signup and view all the answers

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

    <p>Zero Knowledge protocol</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.</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.</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.</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.</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.</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.</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.</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.</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.</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.</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.</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.</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.</p> Signup and view all the answers

    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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    Related Documents

    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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