Validate If Your Ideas Need a #BlockChain?

in #blockchain2 years ago (edited)

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Blockchain has allowed mutually mistrusting (without relying on a central trusted third party) entities to perform also offers transparent and immutability for data storage using DLT.

Validate If Your Ideas Need a #BlockChain?

  1. Is data storage required?

Yes --> Let's talk further

No --> BlockChain N.A.

  1. Are you the only one who is writing data?
    According to the researchers, if you are the only person who is writing data, there is no need of Blockchain.

  2. Do you have trusted third party?

Yes --> BlockChain N.A.

No --> Let's talk further

  1. Are your writers anonymous?
    If you want to protect the privacy of your writers, use a Permissionless Blockchain like Ethereum.
    Yes --> Let's talk further

  2. Do the writers mutually trust each other?
    Yes --> Let's talk further

  3. Do you need public verification?
    Yes --> Let's talk further

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Answering these question will help you identify if your ideas need a Blockchain. Blockchain can be costly if you use it inappropriately. Since Blockchain would be slow in retrieving data when compared to a centralised server. But, if you use it for the appropriate problems it would be rewarding.

References : https://eprint.iacr.org/2017/375.pdf

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