Blockchain Decision Tree - Reading Assignment


#1

Welcome to the discussion about this reading assignment.

Leave your answers to the questions below in this thread. If you have any questions or you want to discuss something connected to the assignment feel free to do it in this thread as well, but please everything to the topic.

  1. What are the benefits of using a normal database instead of a blockchain?
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?

#2
  1. Normal database is efficient, fast, easier and cheaper to use than a blockchain database. If you don’t need the security, immutability, transparency and other benefits of a block chain, then use a normal database.

  2. Higher cost, harder to change functionality and rules, speed of use.

  3. If only 1 writer, then you don’t have to worry about security. The point of a blockchain is that you don’t have to trust the users.


#3

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

  • Easier and cheaper to build a solution

  • Competency & Skill is easier to find vs. lack of experience

  • More resources available

2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?

  • Expensive
  • Time intensive

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

Eliminate any unknown or untrusted middleman (person or organization) while still providing transparency for all parties, validation of any information that is being passed, and immutability of the blockchain once it is created.


#4

1, normal db- faster, requires less memory, thus more efficient. easier to make changes for UI or upgrades, cheaper

  1. more costs, no good user interface, more memory required, more programming. An off the shelf solution is faster ti implement

  2. if there is only 1 writer, that implies nobody will ever contest the info. That 1 writer is a trusted source, if that is the case, no point in a BC.


#5
  1. What are the benefits of using a normal database instead of a blockchain?
    A known quantity, cheaper. Traditional db’s have more available resources and tools.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Inefficient processing, poor user experience.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    If there is only one writer, concurrency is not an issue and transaction order would be predetermined.


#6
  1. What are the benefits of using a normal database instead of a blockchain?
    Speed of transactions, Query speed, Inexpensive compared to a blockchain solution. Privacy of data.
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Incurring excessive and unnecessary costs, slower recording and retrieving of transaction data.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    When there are 2 or more entities writing to a database, it is important to be able to trust the transaction input of the other entities. In this regard the transparency of a blockchain is essential.

#7

1. What are the benefits of using a normal database instead of a blockchain?
It is faster to be deployed and in its operation. It is cheaper as well.
2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
That could be a waste of resources, time and money.
3. Why should there be more than 1 writer to a database in order to justify a blockchain?
Because of transparency and security.


#8
  • What are the benefits of using a normal database instead of a blockchain? FASTER TRANSACTIONS AND CHEAPER TO RUN.
  • What do you think the consequences would be of using a blockchain when you in reality don’t need one? SEVERE WASTE OF RESOURCES, TIME AND MONEY.
  • Why should there be more than 1 writer to a database in order to justify a blockchain?
    REMOVE ANY UNKNOWN/UNTRUSTED MIDDLEMEN, WHILE PROVIDING TRANSPARENCY AND IMMUTABILITY

#9
  • What are the benefits of using a normal database instead of a blockchain?
    Easy, fast, lots of existing skill sets, conventional.

  • What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It would be very inefficient, costly, difficult to build, difficult to maintain, difficult to integrate, etc.

  • Why should there be more than 1 writer to a database in order to justify a blockchain?
    Because if there’s only 1 writer, there’s nothing “shared” about the ledger. No need for consensus.


#10
  1. Can save money, speed, and more support.
  2. Could add alot of cost and complexity that don’t otherwise need to be there.
  3. One issue is weather each writer would accept the transactions that the other writer submits. If there is only one writer, there wouldn’t really be an issue of trust in that respect.

#11
  1. What are the benefits of using a normal database instead of a blockchain?
    Cheaper and faster

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Unsustainable growth leading to the Blockchain database not being functional.

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    You can’t have to competing records and one writer.


#12

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

  • Faster enquiry
  • Consume less energy
  • Cheaper to build
  • Transaction privacy

2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?

  • waste of money
  • slower transaction - takes additional time to achieve consensus & redundancy and signature verification.
  • transactions are not added perfectly sequential because how they are picked for each block.
  • increased need for computational power and energy consumption

3. Why should there be more than 1 writer to a database in order to justify a blockchain?
Blockchain uses consensus to prevent multiple actors/writers from inputing dishonest transactions such as double spending through trustless mechanism. If there’s only 1 writer, there is no need for trust, as they control more than 51% of the nodes (in this case 100%) and input whatever they wish since there is no consensus needed.


#13
  1. What are the benefits of using a normal database instead of a blockchain?
    Faster and more efficien, does not require high computational power
    Easy and cheaper to build.

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Could be a wrong DB which is not applicable to your business.
    Waste energy, money
    Complex and slow working mechanism

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Blockchain uses BFT consensus model, it needs to have at least 2 users for it to be applicable or required


#14
  1. What are the benefits of using a normal database instead of a blockchain?
    A normal database gives a business more control over the data it has collected.
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    Wasted time, money, and human power.
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Transparency would be less of an issue

#15
  1. What are the benefits of using a normal database instead of a blockchain?
    Data is kept private, a normal database has faster transactions and actions and is less expensive then a blockchain database

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It would cost money, waste time and valuable resources in the end it would be slower at recording and retrieving data

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    When there is more then 1 writer writing to a database, it is important to be able to trust the transaction input of all writers or entities. in this regard the transparency of a blockchain database is essential


#16

1. What are the benefits of using a normal database instead of a blockchain?
Quicker data load, update and retrieval,
wider community support,
easy to setup
Tight control on Transaction order
2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
Misfit solution result in all sort of problems e.g. wastage of resources, inefficiency, costly to set up and maintain, latency
3. Why should there be more than 1 writer to a database in order to justify a blockchain?
Blockchain is a ledger which is result of Consensus which involves multiple players. Having a single writer doesn’t make sense in blockchain solution. Central db is better suited in this scenario.


#17
  1. What are the benefits of using a normal database instead of a blockchain?
    Less expensive
    More efficient
    Save time
    Less privacy

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It will cost time, human resource and money

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Because with one writer the information is trustful and secured no need of the blockchain


#18

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

  • Better performance
  • Less costly
  • Easier to Manage
  • Regular File Storage

What do you think the consequences would be of using a blockchain when you in reality don’t need one?

You end up with a slower, less efficient and costlier database

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

Because it there is only one writer than there is no trust issue involved.


#19
  1. What are the benefits of using a normal database instead of a blockchain?
    • easier/cheaper to build/maintain, better performance, more control/flexibility
  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    • higher cost, longer development time, poor performance, and inflexibility
  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    • if you only have 1 writer, you never have to establish trust between parties, the main benefit of blockchain

#20
  1. What are the benefits of using a normal database instead of a blockchain?
    Normal databases are more efficient smarter cheaper then blockchains. If you dont need the immutability, security and transparency of a blockchain use a normal database

  2. What do you think the consequences would be of using a blockchain when you in reality don’t need one?
    It would be expensive and time consuming

  3. Why should there be more than 1 writer to a database in order to justify a blockchain?
    Because the data is reviewd by more then one entity and is trusted more.