A Decentralized Approach To Database Management
Manan Shah is the Founder and CEO of Avalance Global Solutions, a California-based web3 cybersecurity and information security company.
Data is at the core of the ongoing technological revolution.
Whether you’re an online food delivery company, a fintech service provider or in any other enterprise arena, your business is likely facing a pressing concern that is growing every day. Each time you add more data into your database to sustain the foundation of your business, you also make it more vulnerable.
With digital disruption, the amount of data produced and consumed is increasing at a rapid scale. An IDC report suggests that the amount of digital data created over the next five years will be greater than twice the amount of data created since the advent of digital storage. However, behind such huge numbers lies a different reality.
Legacy Database Systems Are Starting To Become Redundant
The conventional framework of database management systems to store, access, share and distribute data is becoming redundant. While multicloud platforms like MongoDB assure data integrity and security, the real picture is far from what is projected.
What’s happening in the legacy database management industry has led to the formation of siloed systems, resulting in security breaches and a lack of owner-controlled data assets. This typical architecture of the internet, commonly referred to as Web 2.0, has compromised the very foundation of data.
Web3 holds the promise of a decentralized internet that will disrupt the way individuals and businesses interact with data.
Rethinking Database Management Systems
A shift toward decentralized database management systems will disrupt today’s legacy systems of engaging with data. Interlacing blockchain functionalities with distributed database management systems can fundamentally change the approach toward data accessibility.
In the last few years, we have looked at the rapid innovation in the decentralized blockchain storage space. Initially, database storage services were achieved by database management services like MongoDB and the SQL server. The introduction to blockchain gave way to the innovation of decentralized file storage. Solutions like Filecoin, Storj and Sia have introduced decentralized storage networks to enable data storage on multicloud platforms. While these solutions offer several advantages to users over centralized storage, they were limited in the capacity of their functions. File storage service solutions are optimized to deliver entire files, which is a challenge if the file size is large. Another challenge with file storage services is that the content inside the files is not searchable.
Beyond IPFS and decentralized storage service, we need a database service that combines the best aspects of decentralization with the mature database functionalities to deliver a decentralized database management solution that caters to dApps.
Decentralized Database Management Solutions
Inery, the first-ever layer-0 blockchain to provide a solution for decentralized database management, is starting to move forward in this direction. It opens up the possibility for a new paradigm for data accessibility by building a layer-0 blockchain solution that specifically addresses and optimizes database management. Its decentralized database management solution combines blockchain functionalities such as security and immutability of data assets with the distributed database infrastructure. This paves a new way for database management that is decentralized and combines the best of conventional systems, including complex queries functionality and low latency.
Another distinctive methodology achieved by Inery is the usage of metadata for database management. Put simply, metadata refers to the summary of the actual data or document. Inery captures the metadata of data, documents and files, which is distributed across several nodes instead of a centralized server. This makes it possible for the blockchain project to securely store, access, manage and deliver data on a decentralized infrastructure, thus paving the way for Web3.
BigchainDB is another project that adds blockchain characteristics to distributed databases. It is a MongoDB database that uses Tendermint to obtain its blockchain features. It adds decentralized characteristics such as immutable recordkeeping to search query functions of a distributed database. The network also gives control to a user over its data assets, which can further help to transform the internet in a positive way.
Agility To Data Infrastructure For Businesses
With data dependency at an all-time high, enterprises and industries have started to leverage data more effectively. At the same time, they will need to be mindful of how they integrate and manage enterprise data that is secure and governed. Managing their data infrastructure on a decentralized and distributed solution will bring more agility to the data infrastructure of businesses. This will also allow larger organizations to have better control over how their data is to be used as well as enforce standards for interoperability, security and governance.
Decentralized database management solutions can enable real-world use cases to empower businesses and industries—from healthcare to enterprises. These solutions allow managing a patient’s healthcare data on the blockchain or tracing a drug’s life cycle to prevent counterfeit products. In the case of real estate, synchronizing distributed databases in real time streamlines the process of land and property records on a single ledger, which is shared among multiple stakeholders.
Even in the decentralized database infrastructure, data analysis can yield informational insights. Moreover, this solution allows an owner to control their data assets. This opens up a whole new world of possibilities for your businesses and, more importantly, provides a secure, transparent and ethical solution for database management.
Moving from the legacy world of centralized databases and embracing the decentralized world of database management can build a resilient and reliant infrastructure for database management.
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