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You're reading from  Mastering Blockchain - Fourth Edition

Product typeBook
Published inMar 2023
PublisherPackt
ISBN-139781803241067
Edition4th Edition
Concepts
Blockchain
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Author (1)
Imran Bashir
Imran Bashir
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Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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Blockchain and full ecosystem decentralization

The blockchain is a distributed ledger that runs on top of conventional systems. These elements include storage, communication, and computation.

There are other factors, such as identity and wealth, which are traditionally based on centralized paradigms, and there's a need to decentralize these aspects as well to achieve a sufficiently decentralized ecosystem.

Storage

Data can be stored directly in a blockchain, and with this fact it achieves decentralization. However, a significant disadvantage of this approach is that a blockchain is not suitable for storing large amounts of data by design. It can store simple transactions and some arbitrary data, but it is certainly not suitable for storing images or large blobs of data, as is the case with traditional database systems.

A better alternative for storing data is to use distributed hash tables (DHTs). DHTs were used initially in peer-to-peer file sharing software, such as BitTorrent...

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Mastering Blockchain - Fourth Edition
Published in: Mar 2023Publisher: PacktISBN-13: 9781803241067
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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