Blockchain Solutions for Big Data Management

The managing of unprecedented growth of data in the growing world is an important task. Knowing that the world is facing development in the numerical aspects and multiplicity of digital data that are normally produced by both consumers and technologies, dealing with this huge amount of data and finding the finest way to store, process, and organize it is necessary. This is the point where blockchain comes into the picture by providing significant inputs as it is the decentralized system for private data. Certainly, several industry experts are considering blockchain and its welfare for many improvements in different fields. Big Data is the recklessly rising sector in the ecosphere as every industry wants to get an understanding of the customs arrangements of their customers, where Big Data mentions huge datasets that are examined to divulge fundamental outlines using progressive statistical representations and data mining. The data produced is of petabytes range and when we are dealing with such a large range of datasets, problems related to it arise and not only collection of data is focused but security measures are also given extra importance, and proper care of produced data is taken so that no malicious action takes place.

Keywords: Big Data, BIot, Bitcoins, Blockchain, Consensus Algorithm, Cryptocurrency, Cryptography, Data mining, Decentralization, Distributed ledger, Electronic Health Record, Immutable network, IoT, Peer to Peer Network, Private Blockchain, Proof of Stake, Proof of Work, Public Blockchain, Public Key, Smart Contracts.