There are tens of thousands of blockchain project happening around the world. But due to the many flaws and inherent scalability issues, the world has yet to witness a massive adoption of this technology. It is time to tackle the core issues of blockchain and reinvent the technology to bring a truly scalable, stable, and global blockchain platform that is easy to use and is compatible with billions of system. By doing so, enable the widespread of blockchain adoption and push forward a whole new era.
Blockchain as a Database The major breakthrough that blockchain technology brought was decentralization. Logically, one of the keys to adopting blockchain lies within the migration from traditional database structure to this new decentralized framework. In general, traditional user accounts can be substituted by public-private keys and addresses in blockchains. Traditional databases are subject to strong access control, almost all data is restricted to authenticated accounts.
Moreover, account creation is also of a centralized model in traditional databases, by which a database administrator grants the user an account for access. With blockchains, conversely, key pairs are generated freely by anyone, without the need for centralized administration. Much of the data is then considered public access, unless it is stored in encrypted form on the blockchain. This applies even for private blockchains within an organization's own LAN, unencrypted data should still be considered as publicly accessible, due to the unavoidable breach into the LAN. Instead, privacy is protected by the anonymity of the virtual identities. This is in fact arguably a stronger privacy protection compared to a centralized model, where the loss of customer data happens often due to hacking.