Blockchain is a special type of database management system that has many more functions than regular databases.
Here are some important differences between traditional databases and blockchains:
- Blockchain decentralizes control without breaking trust in existing data. This is not possible in other database systems.
- Companies participating in a transaction cannot share their entire database. But in a blockchain network, every company has a copy of its ledger, and the system will automatically maintain consistency between the two ledgers.
- While in most database systems you can edit or delete data, in a blockchain you can only insert data.
What is the difference between blockchain and cloud?
The term cloud refers to computing services that can be accessed online. You can access Software as a Service (SaaS), Product as a Service (PaaS), and Infrastructure as a Service (IaaS) through the cloud. The cloud provider manages its hardware and infrastructure and provides you with access to those computing resources over the Internet. They also provide more resources than just database administration. If you want to join a public blockchain network, you need to provide your hardware resources to store your copy of the ledger. You can also use a server on the cloud for this purpose. Some cloud providers also offer full blockchain-as-a-service (BaaS) on the cloud.
What is Blockchain as a Service?
Blockchain as a Service (BaaS) is a managed blockchain service provided by a third party on the cloud. You can develop blockchain applications and digital services, while cloud providers provide the infrastructure and blockchain building tools. All you have to do is customize existing blockchain technology for faster and more efficient blockchain adoption.
