Big Data & Blockchain,Two Great Things, Better Together
Big Data Block is changing the future of big data processing by combining open source software that connects massive networks of computers to orchestrate large tasks, and the decentralized nodes of a global blockchain network. Two great things, even better together.
Blockchain & Big Data Need Each Other
Big data analysis is currently only available to large organizations capable of building massive large scale data computing environments which are prohibitively expensive to build, run, and maintain. BDB removes all of the headaches associated with big data processing by using blockchain technology to spread the computing burden across computers within BDB’s ecosystem.
Understanding Big Data
Big data is a term used for data sets that are very large or complex where traditional data processing application software is inadequate to handle processing the scale of information quickly and cost-effectively. Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating and information privacy.
What Value Does Big Data Bring To Companies?
Organizations both large and small are recognizing that they can make smarter decisions by processing and analyzing all the data they have. In today’s information economy data has evolved into a minable asset. These assets need to be analyzed in real time because small changes in the data have to be understood very quickly. By leveraging the power of big data companies can now look at much larger datasets with greater speed providing insights that deliver value and a competitive advantage.
Understanding How Big Data Block Will Use The Blockchain And Tokens
The BDB token utilizes Ethereum which will manage the entire job creation, job metadata (detail about the job), payment for assisting in the job processing, and the full auditability of the end to end transaction. Ethereum provides the framework for all of this with its smart contract and distributed ledger capabilities.
The tracking mechanism to make this all happen is a token. This token is used and allows for final payment of the job to the nodes that assisted in the data processing. A user will get BDB’s through the token sale or via purchase on exchanges and these tokens are the mechanism to track the end to end job and the detail about each job. This will also be the mechanism used to compensate those that made their nodes available to process the data.
How Does Big Data Block Work?
While big data is very popular now it still requires a fair amount of technical expertise and expense to implement. Hiring or contracting big data experts is expensive. Scaling a big data environment also requires significant technical capabilities. Large companies with deep pockets can do this, but not everyone can. That’s the problem we are solving. We are democratizing big data analysis.