How to Create a Blockchain Database: Our Experience of Development and Scope of Use

By its nature, the blockchain is an open, decentralized database that allows trusted transactions to be performed without the participation of a third party.

The blockchain keeps records of all data exchanges, and each verified data exchange or transaction is added to this register as a new block. And each transaction is verified through a distributed peer-to-peer network of nodes.

The information stored on the blockchain exists as a common and constantly checked database. This way of using databases has huge advantages. The blockchain database is not stored in any place, and the records stored in it are publicly available and easily verified. There is no centralized control and central version of this information. In fact, it is a global hosting on millions of computers around the world at the same time.

Decentralized application development based on the blockchain database is the latest trend that opens up new business opportunities. And this is a wide range of applications in almost any business field.

Indeed, the development of a decentralized application significantly reduces capital costs and can provide an excellent level of integration with other application applications.