SQL Database Ledger Compared to Blockchain

Andrew analyzes and writes about Microsoft's data management, business intelligence, and machine learning solutions, as well as aspects of licensing... more

A blockchain is a distributed ledger, a time-stamped data structure that contains an entire history of transactions for a system and cannot be altered by any one party in the blockchain system. Blockchains are based on cryptographic tokens and algorithms and a peer-to-peer network that verifies transaction history, so transactions can be trusted without requiring the use of a centralized authority or clearinghouse approving or vouching for the transactions. In a blockchain deployment, copies of the blockchain are replicated across nodes (participants) and are assured to be consistent through a set of consensus algorithms.

There are three main types of blockchain being created today:

Public blockchains are used for decentralized apps like Bitcoin and other cryptocurrencies
Consortium or federated blockchains are controlled by a defined set of participants and used for smart contracts and shared business processes
Private blockchains are usually controlled by a single entity and used

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