What is Ethereum Blockchain Where is it being used

+1 vote
I am new to blockchain, and I have recently started working on Ethereum platform. However, I am not clear how and where to use this platform. Can somebody tell me the real life use case or implementation of Blockchain
Mar 30, 2018 in Blockchain by Johnathon
• 9,090 points

1 answer to this question.

+1 vote
Best answer

Blockchain is a decentralized distributed database of immutable records, where transactions are protected by strong cryptographic algorithms and the network status is maintained by the Consensus algorithm.

Ethereum is an open source Blockchain platform for developing decentralized applications.

Blockchain was essentially introduced with the evolution of bitcoins. But its real potential lies in developing decentralized applications.

If you'd like to have a look at some companies already building on top of Ethereum, check out:

  • Airlock - a IoT (Internet of Things) company implementing a decentralised generalist locking system.
  • CubeSpawn - a FMS (flexible manufacturing system) offering big factory automation to small shops.
  • Crypto Swartz - A tag-based backend reputation system for online content.
answered Apr 3, 2018 by Christine
• 15,790 points

selected Aug 3, 2018 by Omkar
Then why are we still using database? we can use blockchain everywhere right?
Hey there! There are many reasons why we can't use Blockchain instead of Database.
1. The data in Blockchain is immutable. So if you have a file that contains data that you regularly keep changing (such as an excel sheets related to finance, a file that contains daily updates etc.,), you can not make changes to that file if you have stored it in Blockchain.

2. The size of data you can store in Blockchain is limited (as low as 100Kb). So you can not store files of bigger size like you can in a Database. You can create a hash of the data and then store in the Blockchain but then again, it is not how Database is used.

3. To store data, miners have to validate your transaction to create a new block and then add it to the Blockchain. This process is complex when compared to a Database.

4. You need to use private keys and public keys to share the data, which again makes it complex compared to a Database.

Hence, you can not replace Database with Blockchain.

Related Questions In Blockchain

0 votes
1 answer

What is blockchain and Ethereum? Where is it used?

A blockchain is an immutable, sequential chain of ...READ MORE

answered Apr 11, 2022 in Blockchain by Rahul
• 9,670 points
+1 vote
2 answers

What is a blockchain and ethereum?

Some of the use-cases are: Healthcare Medical records are ...READ MORE

answered Aug 9, 2018 in Blockchain by Omkar
• 69,230 points
0 votes
1 answer

How pbft is being used in blockchain?

PBFT can tolerate byzantine failures. For tolerating ...READ MORE

answered Apr 21, 2018 in Blockchain by Perry
• 17,100 points
0 votes
1 answer

Truffle tests not running after truffle init

This was a bug. They've fixed it. ...READ MORE

answered Sep 11, 2018 in Blockchain by Christine
• 15,790 points
0 votes
1 answer

Hyperledger Sawtooth vs Quorum in concurrency and speed Ask

Summary: Both should provide similar reliability of ...READ MORE

answered Sep 26, 2018 in IoT (Internet of Things) by Upasana
• 8,620 points
+1 vote
1 answer

Protocols used in a distributed/dlt system for the nodes to establish communication

yes all are over TCP/IP connections secured ...READ MORE

answered Aug 6, 2018 in Blockchain by aryya
• 7,450 points
+4 votes
3 answers

What type of database is blockchain?

Blockchain is a distributed database. what makes ...READ MORE

answered Mar 30, 2018 in Blockchain by Christine
• 15,790 points
+1 vote
1 answer

I would like to create a blockchain network which will stay at the same level of complexity, is it possible?

You can very easily create a cryptocurrency having a ...READ MORE

answered Apr 4, 2018 in Blockchain by Christine
• 15,790 points
webinar_success Thank you for registering Join Edureka Meetup community for 100+ Free Webinars each month JOIN MEETUP GROUP