Blockchain technology - Database connections

moyeon (69)SKP [Mod]in Steem Alliance • last month (edited)

Hello Steem Alliance

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In this article, I am trying to make you understand about Blockchain technology in more easy words and easy description. Every day new people are joining in crypto currency investment and they hear about blockchain.

It had been started when crypto currency had been launched and now people have more trust on this technology because of its secured system. Don't be amazed that Indian Government is working on Blockchain technology.

Finance Minister appealed to RBI in her budget that they should follow block chain technology system and should include in our Indian currency systems. She adviced to accept Digital money.

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Actually this time, there is no control and commands and track system in Blockchain technology transactions so in her appealed, she wanted to cover digital currency so Government can track those under table transaction which is hiding from them.

Is there any connection of Block chain to Database

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If You want to store records and data, so there is concept of P2P network and this concept is used in Blockchain technology. Best part is that in block chain technology, if we use 5 networks and 5 computers so all network and all computers gets connected to each other. Means in this technology all networks and computers device are connected to each other in Blockchain to share records and data to each other network and computers.

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We can say that it is vast database which is shared to every comuters in the network. Best part of block chain is that whatever data is storing into block chain, it can not be deleted, neither editable. This system is more secured because of this program. We can see that blockchain is account ledger where all crypto transaction is stored with security. It is called D centralised database, because it has no signal authority, it is shared to millions computers in the same network.Sometimes people says that it is Distributed ledger technology because single transaction can be stored in many places at same time. Transparent is 100 %, anyone can see this.

Is there difference between database and Blockchain:

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There is fixed place of stored data which is called Database. Every Data is stored in Database. Blockchain is also like Database which keeps all data of transaction of yours in Crypto Currency. Big difference is that Blockchain database has not single authority. It is shared in billions computers of same network and it can not be deleted and edit.

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I can set you example to make you understand like in any bank, they store information of customers about their deposit money, withdraw money, transaction whatever they make. But they have only authorised to access it but if they use blockchain system so all information will be stored and every customer can see to anyone's transaction, withdraw money, deposit money ledger. It is open d- centralised ledger and it can not be edit.