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Sunday, October 24, 2021
Home News Berlin Blockchain Startup BigchainDB Raises €3 Million

Berlin Blockchain Startup BigchainDB Raises €3 Million

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.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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