Big Data Challenges : How Blockchain Could Overcome Them?

How Blockchain Can Help In Big Data Challenges

Blockchain  - A rescuer of big data risks and challenges, we have listed around 7 big data challenges above, but the most important challenges are Security, Handling the Quantity and Identifying the Malicious Data. If we can sort out these 3 challenges, then we can easily overcome the other challenges. Blockchain is found to be the remedy for fulflling big data with security, quantity, and dirty data identification.

Blockchain can create fruitful relationship with big data in the following ways

Security - This is the top most asset of blockchain ever. Data’s inside the blockchain are non tamperable

Transparency In Tracking - The another biggest challenge of  data analytics is unable to find the origin of a data. The increased transparency nature of blockchain can easily find from where a data started to flow.

Data’s are Stored in Decentralized Environment - No chance for hacking, as the data’s are stored in a distributed decentralized server. So there is no chance to hack data, without getting validated by each node.

Flexibility In Handling Various Data - Blockchain Doesn’t restrict data in terms of it type, it can store and hold any kind of data.

So by combining all these primary nature of blockchain it could create a fruitful relationship with big data. 

Refer : blockgeeks

Blockchain Use Cases In Big Data

Blockchain is adding kind of characteristic for data while proceeding data analytics process. It results in.. 

• Blockchain generated big data,  which is secured, and can’t be hacked as it is tightened with network architecture. ​
   
• Blockchain based big data, is become more valuable as it can easily differentiate structured and unstructured data.

Refer: towardsdatascience

1. Blockchain ensures Data integrity and hence trust
   
   As blockchain goes through a detailed verification process in order to store a data, it ensures the data quality and integrity .
    
2. Ensures data security
   
   
   It is impossible to possess a data hack in side the blockchain networks, as the entire networks verifies the data with a certain consensus algorithm.
   
   
   
   source : hackernoon
3. Increases Computational power in predictive analytics 
   
   As blockchain integrates structured data in one place, it becomes easy to compute the data and bring better insights.
4. Real Time Data Analysis Become possible
   
   As blockchain provides fast and real time processing access to the data, enterprises adopts blockchain to  proceed real time cross border transactions.
    
5. Provides access to data sharing
   
   As data’s stored in blockchain is accessible for everyone, it prevents data processing teams to proceed data analysis on already analyzed data and reusing them.
   
    

Blockchain in Big Data : Future Statistics

​According to infoworld, The worth of blockchain ledger could be nearly 20% of toal big data market in 2030, and will cultivate a massive $100 billion as annual revenue.

Refer : infoworld