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Private Blockchain For Business Storage And Benfits

The Blockchain For Business Storage immutability and traceability of data are some of the advantages that blockchain technology brings, thanks…

By TrendsTechBlog , in BUSINESS , at May 11, 2020 Tags: ,

The Blockchain For Business Storage immutability and traceability of data are some of the advantages that blockchain technology brings, thanks to the existence of a distributed ledger, of which there is a copy at each node that is part of the blockchain. Thus, any of its members, be they original or new users, has a copy of that book, which serves to verify the veracity of any information transaction. This guarantees the immutability of the data and a thorough control of any changes that have been made to it, but it has an important counterpart, which is poor performance in all processes.

This is the main brake on public blockchain-based storage architectures, which are the modality initially proposed by blockchain drivers. And in practice it has been proven that this technology is not suitable for any application that demands certain performance. Therefore, companies that want to implement blockchain in their storage systems, including connected device networks, are looking for solutions based on private blockchains.

In this case, the nodes that are part of the chain are part of the organization, so it is assumed that they are controlled, and it is not necessary to carry out the many verification steps that must be carried out in each interaction with the chains. of public blocks. This is a fundamental feature of the original concept of blockchain, since the distributed ledger that includes the data of each transaction cannot be modified, but the information of the following transactions is added.

But each time the information is accessed, modified or transmitted, a somewhat redundant process of consultation and verification must be carried out, resulting in a decision on whether or not the current transaction is carried out. This takes time and, according to experts, in some public blockchains, the limit can be less than a dozen transactions per second, something unfeasible in the vast majority of business storage environments.

By contrast, private blockchains do away with all or part of these “round trip” verification processes, allowing them to interact with data much more efficiently, while maintaining many of the benefits of original blockchains. But the success of this technology requires parallel monitoring of the security of the nodes that are part of the blockchain, and the industry is working hard on it.

In fact, some of the most prestigious providers of enterprise storage platforms offer solutions that include integrated private blockchain technology, and this is expected to remain for the future, either as a value-added feature for customers. or as the main claim, in the case of products more focused on specific blockchain storage applications.

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