Berlin-based Blockchain startup BigchainDB has raised €3m euro in venture capital to fruther develop BigchainDB, a scalable Blockchain database.
According to media reports, the round was led by Earlybird Ventures and featuring participation from Anthemis Group, RWE Ventures, innogy SE and Digital Currency Group, BigchainDB‘s Series A round is intended to help expand the company’s staff and bolster its security.
Rather than trying to scale up Blockchain technology, BigchainDB starts with a big data distributed database and then adds Blockchain characteristics – decentralized control, immutability and the transfer of digital assets – turning the idea around.
BigchainDB’s co-founder and CEO Bruce Pon told CoinDesk:
“Blockchain is a way to give access to assets equally. You’re still going to need intermediaries, but the access is equalized. They will never own your data like Google or Apple or Amazon.”
From their whitepaper:
BigchainDB fills a gap in the decentralization ecosystem: a decentralized database, at scale. It points to performance of 1 million writes per second throughput, storing petabytes of data, and sub-second latency.
The BigchainDB design starts with a distributed database (DB), and through a set of innovations adds Blockchain characteristics: decentralized control, immutability, and creation & movement of digital assets. BigchainDB inherits characteristics of modern distributed databases: linear scaling in throughput and capacity with the number of nodes, a full-featured NoSQL query language, efficient querying, and permissioning. Being built on an existing distributed DB, it also inherits enterprise-hardened code for most of its codebase.
Scalable capacity means that legally binding con- tracts and certificates may be stored directly on the Blockchain database. The permissioning system enables configurations ranging from private enterprise Blockchain databases to open, public Blockchain databases. BigchainDB is complementary to decentralized processing platforms like Ethereum, and decentralized file systems like InterPlanetary File System (IPFS).
This paper describes technology perspectives that led to the BigchainDB design: traditional Blockchains, distributed databases, and a case study of the domain name system (DNS). We introduce a concept called Blockchain pipelining, which is key to scalability when adding Blockchainlike characteristics to the distributed DB. We present a thorough description of BigchainDB, a detailed analysis of latency, and experimental results. The paper concludes with a description of use cases.
- New Zealand’s Cryptopia Exchange Packs It In – Announces Liquidation - May 15, 2019
- Canadian Blockchain Expert Alex Tapscott and NextBlock Global Limited to Pay $1M for Misleading Investors - May 15, 2019
- ObEN Launches AI Newscaster With 3D “Satoshi” Avatar to Deliver Content via PAI News App - May 14, 2019
- Leading Freelance Platform Moonlighting Announces First Blockchain Integration Partner – Teams with HireVibes For EOSIO Solution - May 14, 2019
- Polish-UK Blockchain Company Billon awarded €2 million euro from EU to build DLT Document System - May 14, 2019
- City of Belfast and Colu Team up to Create City Loyalty Token to Boost Local Economy and Environment - May 8, 2019
- Fidelity Investments – to Launch Cryptocurrency Trading Desk Soon – Recent Report Shows Clients Want To Trade Digital Assets - May 8, 2019
- Consensys Accelerates Blockchain Investment Portfolio, Consolidates Investment Arms - May 8, 2019
- IBM to Track Fresh Shrimp on the Blockchain - May 8, 2019
- Binance Cryptocurrency Exchange Hacked for 7000 BTC (USD $40 million) - May 8, 2019
- Gate.io Reports Success on First Three Successful IEO Projects - May 8, 2019
- Deloitte and RIDDLE&CODE expand partnership to enable the Token Economy - May 8, 2019
- Alprockz Partners with Fusion Foundation to Accelerate Swiss Franc-backed Stablecoin - May 6, 2019
- Major Canadian Banks Choose Blockchain Solution for Identity Verification - May 6, 2019
- Big Pharma Giant Pfizer and Others Join Life Sciences and Healthcare Blockchain Project MediLedger - May 6, 2019
- Craig Wright Pressured to Produce Evidence of Bitcoin and Blind Trust in the Dave Kleiman vs Craig Wright 1.1 Million BTC Court Case - May 6, 2019
- Facebook Kicks Off with their New Cryptocurrency Project Libra - May 6, 2019
- Vanbex Fights Back Against Asset Seizure in Civil Case by Suing Former Contractor for Libel - May 6, 2019
- Philippines’ CEZA Awards ADAX Rights to Open a Security Token Issuance platform and Security Trading Exchange - May 6, 2019
- Bitfinex $1 Billion IEO Details Leaked – Plans To Use Money To Cover Frozen Funds - May 6, 2019