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Blockchain Database Funding Raising Significant Capital

Oct 27, 2017
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Summary

  • The ICO boom has surpassed venture capital firms in seeking funds.
  • The different technological forms used in distributed databases.
  • Using data in distributed databases to raise capital.

The Increasing Popularity of ICOs

2017 hasn’t ended yet and the Initial Coin Offerings (ICOs) raised more than $2 billion already with 250 ICOs appearing since January 2016. This is the preferred financing method for blockchain startups and just in the first quarter of this year, the total number of funds acquired through ICOs surpassed those raised by traditional equity financing or venture capital firms.

Blockchain Database

What is the next big thing?  The development of the internet led to the businesses seeking advanced solutions for the management of their data. Heaps of data is being stored and used by companies and even individuals to determine the success trends and then use them for a better future.

This technology is based on distributed databases where the storage devices are not connected to a particular CPU but are spread across a wide network.  The distributed databases rely on different technological forms to meet the requirements of the clients and some of them are:

Node Data Stores

They allow the system to replicate the files and share them across different protocols like Freenet, NNTP, Mnet etc.

Distributed SQL Data Warehouses

Major vendors like Oracle, Microsoft etc. design these systems allowing the processing of the tasks pertaining to analytics.

Hadoop

It is an open-source framework that lets the applications run on any kind of hardware. It not only allows you to perform concurrent tasks but boosts the processing significantly and also provides enormous storage.

NoSQL

These databases are non-relational and designed for real-time web applications.

Distributed Ledgers

To ensure a de-centralized multi-version control mechanism for concurrency, the distributed databases rely on cryptography. It allows complete decentralization for the database and possesses the ability to secure transactions in complex environments without having the need to rely on a trusted third party. Some people even call these shared ledgers but because of the independence and lack of sharing, it is more suitable to refer to them as distributed ledgers.

What is Datum?

Datum is a marketplace where the data is turned into a commodity and sold to the customers on the terms of those to whom it belongs. Backed by a blockchain ledger, Datum is a decentralized and high-performance NoSQL. With the help of this technology, anyone can store any kind of information including data from the IoT devices, wearables, and even the social network data. This data can now be sold to other potential customers as per the wishes of its owner.

Data Store

Structured data can easily be stored at a place which is secure and private. The customer will be allowed to maintain his anonymity and can store any kind of information here.

Nodes of Storage

The storage nodes allow low latency access to data and there are certain miners who run the storage nodes.

Marketplace

When users share and exchange their data as per their wishes to trustworthy entities, this place turns into a marketplace.

Blockchain database is the future as they even serve terabytes or even petabytes of storage allowing millions of transactions to take place without any hindrance.

 

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