Big Data and blockchain…
What’s the connection?
Are you curious to know?
Or are you happy just guessing…
The former is true I guess… you would want to know more about blockchain and big data connection and also know more about the importance…
Let’s take a look at the importance of blockchain in the field of big data…
Blockchain And Big Data
Blockchain had always been associated with bitcoin – a cryptocurrency. However, over the years the blockchain technology has made and is still making its presence felt in other sectors as well. And one of the sectors is Big Data Industry.
If we look at blockchain technology – blockchain is a database with the prominent feature being – decentralization.
And it is this feature that is attracting all the sectors especially big data industry to blockchain technology. But what do you mean by decentralization.
Decentralization simply mean that the chain is not owned by one individual or an entity but has shared control with others. What makes it a favorite is the fact that it is irreversible and has blocks linked together in a trail. Another important feature that makes blockchain technology a favorite technology is the fact that it has native assets and allows open exchanges in the network.
And with these prominent features, blockchain helps in taking care of three most common challenges faced by big data industry—
- Restricted Access that maintain control and quality of data
If you consider blockchain technology as an application, then you would know that it could be used in any business and not just finance.
And the businesses have realized the importance of blockchain technology and hence have been using it to store their data through this technology. Walmart, would be a good example about how industries are using blockchain technology to store their data and to increase food safety in this case.
By offering the traceability from the origin point of food to the point it reaches its customer.
Blockchain technology comes handy in storing private data, as there is a chance of Real Time Analytics with blockchain technology. This apart, there is a feature of detecting fraud in real time – a feature that is sought by most banks.
Looking at the features of blockchain technology, it seems that almost all the industries would benefit from the technology. However, it seems that there is a need for an evolved database in blockchain.
And this is where organizations are experimenting with applying big data and blockchain to create new tools like BigChainDB, with added features required to develop an enterprise.
With all this technology making waves, it is not surprising that blockchain technology certifications are also gaining importance.
Blockchain Technology Certifications – Why Are They Important?
Certifications would only validate your skills and ensure that you are upgraded and updated in your field. Considering all that blockchain technology is being expected to do, as a certified blockchain professional your prospect employer would be able to repose his trust in you.