When to choose Blockchain over a Traditional Database
Experts agree that blockchain brings a new quality to data management because it helps to facilitate consensus among actors who have no reason to trust one another. An element is added to the chain only once they reach an agreement, offering a secure and untamperable environment for storing data. At the same time, blockchain’s decentralized character removes the need for one authority to be responsible for managing the database. This brings considerable benefits in security, cost, and efficiency over traditional technology.
Still, it’s important to remember that securing blockchain solutions can be a time-consuming process. Scaling decentralized systems can be challenging as well – however, these issues can be addressed successfully, as demonstrated by high-performing blockchains.
Want to figure out if a blockchain solution is right for you? Why not discuss it with our team?