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.
- Toronto’s Creative Destruction Lab Joins Facebook’s Libra Association - June 19, 2019
- Australia’s Power Ledger to bring P2P Energy Trading to Austria - June 19, 2019
- Litecoin Foundation Teams Up With Bibox And Ternio On Special Edition Litecoin Debitcard - June 19, 2019
- US Legislators Call for Halt to Facebook’s Cryptocurrency Plans – And to Face Congress - June 19, 2019
- Hyperledger Welcomes Diverse Line-up of New Members for Identity Project - June 18, 2019
- Facebook Announces Calibra Digital Wallet and Libra Cryptocurrency - June 18, 2019
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction - June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO - June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services - June 3, 2019
- Bitcoin Inc. CEO Morgan Rockcoon Busted – 21 Months in Prison and Fines - June 3, 2019
- Reshaping a Nation’s Logistics Sector: Singaporean Blockchain Company PLMP Cuts Multimillion Dollar Deal With Indonesia - June 3, 2019
- Swisscom TV Opens Blockchain-based Art Gallery - June 3, 2019
- Canadian Messaging Service Kik Burns $5 Million Fighting SEC Over Utility Tokens, Now Raising $5 Million More to Continue Battle - June 3, 2019
- Salesforce Introduces CRM Blockchain Platform For Selected Clients - June 3, 2019
- Block.one Plans to Tackle Pitfalls of Social Media With New Blockchain Community Called “Voice” - June 3, 2019
- CasperLabs and Ethereum on Proof of Stake Protocol at CryptoChicks in Toronto, family ran Hack-A-Thon for blockchain family - June 3, 2019
- World Economic Forum Inaugurates Global Blockchain Council to Address Lack of Well-Defined Rules for Working with Blockchain - May 29, 2019
- India’s First Blockchain Powered VoD Platform ‘myNK’ Launches At Cannes Film Festival - May 27, 2019
- 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