Question

 Cloud Database

 Big Data

 Block Chain Technology

Note:

 Detailed solution should be written for the topic chosen for

presentation. The solution for task-3 (3a and 3b) must be written in

a maximum of 5 pages.

Answer 1

1) CLOUD DATABASE:-

Cloud database is a collection of information either structured or unstructured that is located on private ,public or hybrid cloud computing platform .

How it works:-

  

Cloud databases, like their traditional ancestors, can be divided into two broad categories: relational and no nrelational.

A relational database, typically written in structured query language (SQL), is composed of a set of interrelated tables that are organized into rows and columns. The relationship between tables and columns (fields) is specified in a schema. SQL databases, by design, rely on data that is highly consistent in its format , such as banking transactions or a telephone directory. Popular cloud platforms and cloud providers include MySQL, Oracle, IBM DB2 and Microsoft SQL Server. Some cloud platforms such as MySQL are open sourced.

Non relational databases, sometimes called nosql, do not employ a table model. Instead, they store content, regardless of its structure, as a single document. This technology is well-suited for unstructured data, such as social media content, photos and videos.

2)BIG DATA:-

what is big data?

Answer-:

  

Big data is the collection and analysis of information from various sources. It has two types: structured and unstructured. Structured data includes SQL databases, while unstructured data includes document files and raw streaming data from sensors.

The industry describes big data in three major Vs:

1. Volume: A business can have multiple sources for its data. Technologies today have allowed business to store more data than has ever been possible.
2. Velocity: In reality, data is coming in at breakneck speed — and in real-time, or as close to real-time as possible. Velocity also describes how fast data is processed and analyzed.
3. Variety: In addition to the amount and speed of data that goes into your system, it also comes in different formats. From business sale records to database information, it’s all big data.

Companies find big data as an integral part of their strategy because it can reduce cost and time, develop new products, optimize offerings, and help you make sound decisions. It gives businesses the power to pinpoint the cause of their problems and other behaviors such as customers’ buying habits and risk portfolios.

How Can Big Data Benefit Businesses?

Big data is changing the current norm in business models. It influences decisions and drives changes in organizations. Companies are now adjusting their strategies to be data and performance-driven. Instead of making decisions on a whim, they back it up with numbers and figures.

Big data also gives a new perspective when dealing with various industries. It provides in-depth information that is useful in many ways. It’s already so capable now, and it will only become more capable in the future. Eventually, businesses will invest more in data cloud storage, faster processors, data platforms, parallel processing, and cloud computing.

3)Block chain:-

what is block chain?

Answer:--

Blockchain is a distributed database which maintains a continuously growing list of records (here list of records could be understood as a LinkedList), known as 'Blocks'; (a Block is the same as a Node in LinkedList). Each block has two parts (just as a Node in a LinkedList has two parts - the data and the address of the next Node); a timestamp with transaction data, and a link (a hash pointer) to the previous block.

Blockchains are not meant for modification and deletion of data. Hence, once recorded, the data in any given block cannot be modified/erased without the modification of all subsequent blocks and the collusion of the network. It means they can be sequentially updated whenever a modification is needed.

A blockchain is based on the Distributed Ledger Technology (a shared ledger across the network), which helps transactions to have public witnesses and hence minimize cyber crime and fraud. This serves as an open, distributed ledger to record transactions between two parties in a verifiable and lasting way.

A blockchain is connected by a P2P network ( a network of nodes/computers where each node is an Admin), which enables a protocol for validating new blocks (below diagram) and relaying transactions. A new node gets a copy of the blockchain after joining the network. The distributed ledger has the capability to be programmed, hence the transactions can be triggered automatically.

Let us look at an example, where two parties are involved in a money exchange transaction.

Suppose Party-A wants to send money to Party-B; so the transaction would be represented online as a 'Block.' Now the Block would be broadcast to every party in the network. All parties in the network will approve the transaction if valid (a block is valid only if it obeys all the protocol rules). If it is invalid, it will not be relayed. The Block then can be added to the chain, which provides a lasting and transparent record of transactions. Now the money moves to Party-B.

There are three aspects of any technology - technical, business, and legal - and the same applies to a Blockchain as well. As a technologist, you can think of Blockchain as backend database which has a distributed ledger. As a business professional, you can think of it as an exchange network, which transfers data between peers. As a legal and compliance specialist, this can be thought of as a way to validate transactions.

Let us look at the structure of a 'Block.'

Each block is chained to the other blocks like a linked list. Here each block is using the hash value of the previous block to form a chain. As you can see in the below diagram, the transactions are being recorded in the blocks.

Blockchain technology is being explored and evaluated by most financial institutions and banks in several ways. Possible applications that are in POC (Proof of Concept) stage or have been implemented are P2P money transfer, cross border payments, digital currency exchange, trade finance, smart contracts, and risk management.

The major challenges are regulatory compliance, policies, and legal frameworks to support the technology's adaptation.