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Blockchain Data Lake

Updated: Aug 31, 2022

A data lake is referred to as a centralized repository planned to store, procedure, and secure

large amounts of semistructured, structured, and unstructured data. It can shop data in its

native layout and procedure any variety of it, overlooking the limits of the size.

It promises a secure and scalable stand that lets the enterprises: consume any data from any scheme at any speed - even if the data comes from on-premises, cloud, or edge-computing approaches; store any sort or volume of data in full loyalty; process data in real-time or even mode of the batch and analyze data with the use of the SQL, Python, R, or any former language, third-party data, or analytics request.

The blockchain is a decentralized ledger of transactions, where every network member

validates the transaction so that the data stored is binding and cannot be forged. 

Due to the reality that cryptocurrencies and other real-world apps of blockchain technology

are turning more and more mainstream, the quantity of transactional data stored within

different ledgers turns huge. Storing these huge data lakes at conservative cloud storage gives such as AWS or Azure would cost quite a chance. Meanwhile, the pilot project introduced by Storj and other decentralized data storage providers showed up to 90% cost savings as evaluated by AWS.

Combining blockchain and Big Data: Take toward a new level of analytics

Making use of the blockchain adds one more data and another data layer to the Big Data

analytics process. Most significantly, this data layer follows with the two prime insists of the

Big Data analysis:

  • Blockchain-generated Big Data is safe, as it cannot be forged due to the system architecture.

  • Blockchain Data Lake is precious, implying it is structured, abundant, and full, making it a perfect source for additional analysis.

The ledger’s data can be linked to energy trading, real estate, and different kinds of domains.

There are numerous Big Data analytics better stemming from reality. Take an example, the

prevention of fraud, as blockchain technology lets the fiscal institutions check every contract

in real-time. As said, despite the records analysis of the fraud that previously happened, the

banks can classify risky or falsified transactions on the fly and prevent the fraud completely.

Confident enough, blockchain and Big Data are made for each other. These days, it is who

will be the first to give the most appropriate and best trained AI/machine learning model

functioning on top of distributed, clear, and immutable blockchain-generated data layers. The trade to do this will roll in investments and produce immense profits.

When finding if a company requires a company requires a data lake, consider the kinds of

data you’re functioning with, what you desire to do with the data, the difficulty of your data

gaining process, your policy for data management and governance, and the tools and skill sets that survive in your organization.

Now, firms are beginning to look into the data value lakes through a diverse lens—a data lake isn’t just about storing full-fidelity information. It’s also related to the users gaining a good understanding of the business situations as they have more context than ever before, allowing them to speed up analytics experiments.

Enterprises focus on the data lakes in different methods to help:

  • Lower the complete cost of ownership

  • Ease out the data management

  • Create prepare to incorporate artificial intelligence & machine learning 

  • Boost up analytics

  • Get better the governance and security

It is being developed to manage large volumes of big data, companies can typically move raw data through batch and/or stream into a data lake without changing it.

Contact Kalima Blockain for Blockchain Data Lake queries, requirements.

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