Blockchain technology has been an amazing innovation for the last decade with various development. It is believed and confirmed that all transaction on the blockchain is immutable and permanent, this made a lot of huge industries interested in using this technology for their advantage. For example, Online stores like Amazon will make use of blockchain for transparency and longetivity.
What Is Big Data ?
Big Data are large volume of data that can not be solved using the traditional data analysis. It comprises of data from different spots, sensors and variances with a lot of attributes. Taking a look from a simple blockchain explorer, it comprises of transactions of different tokens and blockchains which can exists for decades.
Big data enhances security in blockchain development. By analyzing vast amounts of data, developers can detect patterns, anomalies, and potential threats. This empowers them to build more robust security measures, ensuring the integrity and immutability of blockchain transactions.
According to Wikipedia, the big data market is set to worth 70 billion dollars in next two years. Introducing the blockchain technology into this estimate then we can see it’s a big impact on both market. During this present decade, blockchain has experience it’s most level of development and new innovations which has bring most demand in big data for analysing and optimizing sets if transactions, users, Hash, Blocks and Adresses. According to recent sentimental analysis this need will continue to grow more as most people adopts blockchain technology.
Big Data will help in scalability of the blockchain and creates a trustable environment for users and industries.