Veritas: shared verifiable databases and tables in the cloud
Veritas: shared verifiable databases and tables in the cloud Allen et al., CIDR’19
Two (or more) parties want to transact based on the sharing of information (e.g. current offers). In order to have trust in the system and provide a foundation for resolving disputes, we’d like a tamperproof and immutable audit log of all shared data and actions, such that an independent auditor can reconstruct the state of the system at any point in time.
Enter the blockchain?! Not so fast say Allen et al., blockchain technology as we know it today is ‘one step forward, two steps back’ ;).
Today, for gaining immutability and auditability with new blockchain platforms, we give up decades of research in data management— and hardened, enterprise-ready code that implements these ideas.
We’d still like to be able to use SQL for example. We want transaction throughput much closer to a traditional database, and we want to take advantage of query optimisation and sophisticated query processing engines. We could try adding database like features to blockchain systems, but that looks to be a long road:
There are now a gazillion start-ups that are adding these basic database features to blockchains, Continue reading
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