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Wednesday, October 26, 2022

Block Chain Technology vs Cloud Computing

Block Chain Technology :

Because it creates shared ledger databases, it is also known as Distributed Ledger Technology. This technology also keeps a record of the history of the digital assets that have been transacted, which are unchangeable and transparent due to decentralisation and cryptographic hashing.

Multiple parties agree on transaction specifications while ensuring accuracy and preventing data/record tampering without the assistance of any trusted centralised authority.

Blockchain has grown in popularity as a result of its promising and revolutionary technology. It reduces the risk of any technical transaction, eliminates fraud, and provides scalable transparency for multiple uses. Blockchain is comprised of three fundamental concepts: blocks, nodes, and miners. Blocks must have three components:

  •  The block contains all of the data.
  • As the block is generated, the system generates a 32-bit whole number known as the nonce at random. Following that, a block header hash is generated. Hash is a 256-bit cypher that is combined with the nonce.

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Cloud Computing :

It is the internet-based delivery of computing services such as software, storage, servers, databases, networking, analytics, intelligence, and so on. All of these computing services offer resource flexibility, rapid innovation, and economies of scale. As a result, enterprises and organisations are shifting away from traditional computing architecture and toward cloud-based architecture.

Users pay for the cloud services they use in this case. This approach allows us to run more infrastructure without having to worry about management, maintenance, or security.

Block Chain vs Cloud Computing :

1)A cloud is something that we can access via the internet. We can access data online through cyberspace. Blockchain, on the other hand, is an encrypted system that uses various types of encryption and hashes to store data in secure databases. The system distributes these data records across multiple nodes and comes to an agreement on the position of the data they contain.

In blockchain, data in the form of records is immutable, whereas data in the cloud is mutable. Blockchain is a magnificent technological advancement that is a decentralised, distributed ledger that keeps a record of the provenance of a digital asset. It does not provide any services.

Cloud computing, on the other hand, is a computing service that offers services in three major formats: Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) (IaaS). The blockchain prevents data tampering without relying on any third-party trusted centralised authority, whereas the cloud does not guarantee complete integrity and tamper-free data.

Cloud computing has the potential to accelerate the execution of blockchain-based projects. However, it has a centralised data fetching structure (because all data is stored in a company's centralised set of data centres). Blockchain, on the other hand, is based on the decentralisation principle, which means that it does not store any of its information in a single location.

Data and its existence in the cloud can be public or private, which means it can be visible to other users or kept hidden from them. Transparency of data is one of the key characteristics of blockchain technology.

2)Cloud computing is primarily based on a traditional database structure, with the stored data residing in the machines of the participants. Blockchain, on the other hand, is an incorruptible and dependable online database registry of various digital transactions in which participants can alter the data with the approval of each party involved.

3)Cloud computing services are provided by companies such as Amazon Web Services (AWS), Alibaba Cloud, Google, IBM, and Microsoft, while blockchain technology is used by projects such as Ethereum, Bitcoin, Hyperledger Fabric, and Quorum.


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