What is cloud computing and blockchain?

Commonly, cloud computing runs on a conventional database structure where the kept data is located in the machines involving parties. In turn, blockchain means a reliable online database registry of different transactions where members can change the information by getting the approval of each party engaged.

What is a blockchain and how does it work?

That means in order to access or add data on the database, you need two cryptographic keys: a public key, which is basically the address in the database, and the private key, which is a personal key that must be authenticated by the network. Next, a blockchain is a digital log or database of transactions, meaning it happens fully online.

What is the difference between database and blockchain?

Companies involved in a transaction cannot share their entire database. But in blockchain networks, each company has its copy of the ledger, and the system automatically maintains consistency between the two ledgers. Although in most database systems you can edit or delete data, in blockchain you can only insert data.

What is Oracle blockchain platform cloud service?

Oracle Blockchain Platform Cloud Service means a pre-assembled platform for handling smart contracts and maintaining a tamper-free distributed ledger. Based on the open-source Hyperledger Fabric, it makes it easy to create secure and verifiable apps that distribute immutable, trusted data with suppliers, banks, and any other relevant entities.