1. Aiwaka AdventuresHome
  2. AI Insights

What is a centralized database (the role of data centralization)

• AI Insights • 104 views

What is a centralized database (the role of data centralization)

What is a centralized database? What is a centralized database? The untrusted database is also called the non intermediary Distributed database. It is a network system composed of multiple parties, with the aim of storing different types of data on different computers without the involvement of third parties Blockchain technology ensures that data is not tampered with by encrypting and verifying multiple nodes. The consensus algorithm uses a Cryptography called Byzantine Fault Tolerance (BFT) mechanism to ensure the security and traceability of the transaction process. This method can avoid the problem of inaccessible server resources due to network congestion or other reasons. This allows users to transfer their private key from a single account to another account in order to share information with others and save it on their devices. Bitcoin and other digital currencies also adopt this approach because they have less control and are vulnerable to hacker attacks. Therefore, if these assets are owned by any party, the information they hold can be securely stored

The Role of Data Centralization

Editor’s Note: This article is from the vernacular blockchain (ID: hellobtc), authored by

The Five Fireball Cult, and reprinted by the Daily Planet with authorization Today we will introduce the concept of data centralization. How is a dataset implemented? Firstly, we need to understand what this word means In traditional internet, information is stored on the network through a database for processing, which makes it highly distributed, traceable, and tamper resistant. It can be used to record historical transactions and various activity records of the entire system. But with the advancement of technology and the increasingly broad application scenarios, we have now seen changes in these characteristics – people can manage their financial situation by digitizing their identities, thereby increasing their control over their future. However, this situation has not changed. For example, when we are using a smartphone, you need to know your password, and then you can access some personal information or certificates on the device. So, from the user’s perspective, if I don’t see my personal wealth as simple, then I can’t spend it anymore because I’m not using a credit card to buy things During this process, due to everyone having a fixed wallet address, which we refer to as a “digital asset” account, we often cannot obtain any information about a specific entity or company Give a few examples to illustrate. Suppose a person owns over 10000 Bitcoins and purchases stocks worth over $100000 every day. Therefore, he can only sell stocks for around $1000 per week. If you hold 100BTC, it is equivalent to buying over 20 banknotes. This kind of thing is not strange, just like the current stock market situation. However, for most people, investing is not an easy task and it is easy to make mistakes, especially those who want to make money. This is why people pay attention to Cryptocurrency. In fact, as early as April this year, there was news that the U.S. Securities and Exchange Commission was investigating whether there was fraud in Coinbase, the Cryptocurrency exchange. In August 2017, the SEC issued a warning to investors that Coinbase violated federal laws and anti money laundering rules. Five months later, BNY Mellon issued a statement saying that Coinbase did not accept Bitcoin as a payment method. Nevertheless, the regulatory body still insists that ‘Coinbase is not a security’ and calls on it to comply with Article 7 of the Brokerage and Self operation Act. According to the requirements of the Financial Action Task Force, Coinbase is obligated to provide due diligence on the security of its clients’ funds. In addition, Bloomberg reported that Coinbase has signed a cooperation agreement with a Swiss technology startup to help them establish a compliant market infrastructure, and they have also agreed to comply with local regulations.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/05/what-is-a-centralized-database-the-role-of-data-centralization/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/05/2023 00:45
Next 08/05/2023 01:07

Recommended articles