Blockchain Use Cases in Big Data
Over the decade, blockchain and big data has been one of the most emerging technologies of development across industries. There is no end in the long run for blockchain. Blockchain technology is a way to evolve automation along with business process management. Blockchain along with big data increases transparency and privacy of data. Data is stored in blocks that contain the hash of that particular block and hash of the previous block. Hash is executed using SHA256. On a large scale environment, blockchain is a decentralized system (independent system) for storing and transferring information. To increase the security and quality of data, blockchain uses secured cryptographic distributed database technology, thereby increasing the efficiency. Blockchain can be very helpful in preventing data leaks, to make any changes in data we need to have multiple permissions, this becomes difficult for cybercriminals to hack the server. Blockchain has many applications in every field like medical record system, banking, social media, etc., in the field of medical record system it witnesses for utilizing safe and secure health care data management. Space giants like the U.S. National Aeronautics and Space Administration (NASA) and the European Space Agency (ESA) are studying ways to employ blockchain for their mission to make it more powerful. Blockchain can be an efficient mode for online data storage. Blockchain along with big data provides a unique solution to how banks can improve the way they protect their customer’s digital privacy. It also acts as a filter role in detecting fraud in financial management and act as efficient barrier to data theft. In the intersection of big data and blockchain, the overall improvement of the data being captured, and the quick transfer of the data which is causing quite a stir. Blockchains will give businesses to confidently, identify the integrity of the data being generated. Consensus driven timestamping, proper audit trails and immutable entries all become better as blockchain starts becoming more emerging onto the world. Accelerated progress and major changes are being made daily when it comes to new blockchain technologies, ushering in new developments in the big data analytics field. As more people start using blockchain-driven services, analytics also must be capable of generating high-quality data insights from the existing data.it also serves in different domains of big data analytics with blockchain as Stoj, Rublix, file coin, etc.