Database Technology for Blockchain

Oppurtunities and Challenges in Database Technology for Blockchain

Abstract

This paper provides an overview of blockchain technology, including its unique properties such as its distributed nature, immutability, and consensus mechanisms. The paper examines the history of blockchain, its cryptographic protocols, smart contracts, and consensus mechanisms, and explores potential use cases in various industries. The authors also compare traditional databases to blockchain technology and propose a common blockchain-based database for intrusion detection systems. The report highlights the potential benefits of this proposed system, including data integrity, security, and fault tolerance. The authors conclude by emphasizing the importance of trust and transparency in blockchain technology, and how it can be applied beyond cryptocurrency to areas such as traceability of medical data, interoperability, and insurance business deals.