Mar 15 2017
09:14 AM
- last edited on
May 26 2021
01:17 PM
by
TechCommunityAP
Mar 15 2017
09:14 AM
- last edited on
May 26 2021
01:17 PM
by
TechCommunityAP
My first question: What is blockchain and how does it apply to the non-financial industry?
Mar 15 2017 09:30 AM
Mar 15 2017 09:30 AM
SolutionMar 15 2017 09:31 AM
Mar 15 2017 09:31 AM
Mar 15 2017 09:33 AM
Mar 15 2017 09:33 AM
Venture Beat has an article about how Blockchain may impact the music industry. http://venturebeat.com/2017/01/07/blockchain-could-completely-transform-the-music-industry/ It's a category rife with outmoded business traditions and middlemen but at a point where they are less central, due to innovation like Blockchain.
Mar 15 2017 09:34 AM
Mar 15 2017 09:40 AM
Mar 15 2017 09:50 AM
Mar 15 2017 09:51 AM
Size of the ledger is certainly a concern and it is possible that for high-throughput systems the ledger could be too large for a node to hold locally. That said this issue isn't unique to blockchains btw - it exists for any log-based system. I suspect we'll be able to use the same techniques to solve the problem here as we do for traditional databases.
There's work going on across the industry on sharding of the ledger, which would complicate the programming model but would enable nodes to participate in a subset of shards and thereby limit the data they need to store.
Another pattern that we've talked about is to use storage services like Azure Storage or Azure Data Lake to store older blocks. As blocks are processed and state updates are applied, the set of past transactions need not be accessed frequently - so they could be moved off to external storage.
Mar 15 2017 09:54 AM
Mar 15 2017 10:06 AM
Mar 15 2017 09:30 AM
Solution