Get a short explanation of how Internet databases function.
- In order to understand the blockchain…and how, for example, it enables Bitcoin,…we first need to cover the basics of a database.…If you already know…what a traditional relational database is,…you might consider skipping this video.…However, I think everyone might enjoy a primer on the topic.…Fundamentally, a database is a place…where we store and manage many aspects of data…for a computer system.…We can store data in a structured way…or an unstructured way.…Let's first look at a structured database.…
Let's use the example of a contacts database,…a place where we might store…people's names and phone numbers.…To find a person and their phone number in this database,…we would use solver code to search the database,…so that it finds and returns the right result to us.…A well-designed database…powered by good hardware is very efficient,…being able to search among millions of records…and return a correct result,…often in less than a second.…In a traditional database,…the data is stored in an organized and structured way.…
Jonathan begins by describing some of the current challenges with the Internet, including existing risks and security problems such as identity management. Next, he describes how traditional online databases function, so that you have a basis for how the blockchain redesigns this function. He then describes how the blockchain becomes a potential solution for many of the existing limitations of online databases. Since the blockchain has its genesis in Bitcoin—the digital currency—he provides some background on that too. He also discusses how blockchain technology actually offers new capabilities beyond simply solving old problems. To wrap up the course, Jonathan shares steps you can take in your organization to understand the implications of the blockchain.
- Explain what Captcha does.
- List the core benefits of a traditional database.
- Assess whether Bitcoin requires any intermediaries in a transaction or not.
- Explain why blockchain technology is useful beyond cryptocurrency.
- Identify some ways to reduce the risk of blockchain innovation.