BigchainDB is a blockchain platform software that carries blockchain properties (decentralization, owner-controlled assets, immutability, etc.) and database properties (such as high transaction rate, indexing & querying of structured data, indexing). It was first launched in February 2016. Its open source and anyone can use it. Since the launch, it’s been continuously improved. Particularly, it’s now BFT (Byzantine Fault Tolerant), called BigchainDB version 2.0. It means even if one-third of the nodes fail, the system will continue to agree and reach the consensus process.
BigchainDB 2.0 is production-ready for many industrial use-cases. Such as in the supply chain, Identity Management, Intellectual Property Rights Management, etc., it can provide numerous benefits when used as a BigchainDB private blockchain. It’s because it perfectly fits into the overall ecosystem of decentralization.
Once you’ve stored data in the BigchainDB private blockchain, it can’t be altered or erased or at least not without extreme difficulties. Even if someone somehow manages to tweak the data, it’s detectable.
BligchainDB private blockchain can also be called Tendermint-based networks. Within a few seconds, they include a transaction in a new committed block. Once this gets done, there’s no option to revert or consider it defunct, because Tendermint doesn’t allow forking.
Some open, public blockchain networks allow anyone to add nodes to the network, such as Bitcoin. It means someone could numerous nodes that they effectively supervise the network: a Sybil attack. In a BigchainDB private blockchain, it’s the responsibility of the governing organization behind the network to control the member list, thus, Sybil attacks aren’t an issue.
You can bank on us for private blockchain development needs as we can deliver rapid prototyping of your BigchainDB private blockchain. We are one of the fastest growing blockchain development companies based in India delivering its services all around the globe.