I'm looking at developing an idea where Ethereum acts as a database. Essentially, the idea boils down to transactions being new data points (text-based data only, low data size) in the database. The data points in the blockchain "database" can be queried via API and data aggregated on the client-side via request criteria.
Primarily, I'm trying to determine if Ethereum is the right platform for this or are there others that I should be considering/investigating? My main objective is a distributed/decentralized database where no one "owns" the data, but where the community can contribute and self-identify as an "authority" for potential filtering by the end-user.
Thanks!
Yes absolutely. Depending on the needs of your service and database traffic, some chains are better than others to use. Steemit.com is a good example of blockchain, curation, filtering by users, with a built-in economy.
By definition, the blockchain is itself an immutable, distributed, and decentralized global database. So the answer is yes. Each message or transaction can contain a data field that is passed through. That said, don't think of blockchain as a traditional database, and don't try to replicate traditional database functionality.
This project sounds interesting, and the answer is certainly YES! Blockchain is used as a type of database for many applications. I would suggest you look in to the Steemit.com blockchain created by Dan Larimer, the same genius behind BitShares and EOS.
Your idea of using blockchain technology, specifically Ethereum, as a distributed/decentralized database is indeed a promising venture. Ethereum's smart contract functionality and decentralized nature make it well-suited for creating a transparent and tamper-resistant database where no single entity owns the data.
Considering your objectives, Ethereum's capability to record transactions as new data points aligns with the concept of a decentralized database. The ability to query data via API and aggregate it on the client-side offers flexibility and accessibility.
While Ethereum is a strong contender, it's worth exploring other blockchain platforms depending on your specific requirements. Platforms like Cleveroad (https://www.cleveroad.com/industries/fintech/blockchain/) specialize in blockchain solutions for the FinTech sector. Their expertise might provide valuable insights into alternative platforms or tailored solutions that align precisely with your project goals.
In the rapidly evolving landscape of blockchain technology, collaborating with experienced development teams can ensure a smooth and effective implementation of your decentralized database concept. Feel free to reach out to Cleveroad for a detailed discussion about your project and potential solutions.
Best of luck with your endeavor to create a decentralized database, and I hope it evolves into a successful and community-driven platform!
