Oracle is the latest company to take advantage of the benefits blockchain technology has to offer. It plans to create a free crypto secure data management offering for Oracle database users.
This feature differs from Oracle’s blockchain platform, which is built on Hyperledger Fabric. And often used for supply chain management.
Rather, Oracle’s crypto secure data management leverages “blockchain tables” within the database. These tables are classified as immutable tables that organize rows of data into several chains.
Each row is chained to the previous row, much like that of a cryptocurrency network. The hash is then automatically calculated on the insert based of that row’s data and the hash value of the previous row in the chain. Timestamps are also recorded for each row upon data insertion.
Blochchain tables allow customers to use the Oracle database when they require highly tamper-resistant data management. But do not wish to distribute a ledger across multiple organizations.
Said Juan Loaiza, executive vice president of Mission-Critical Database Technologies at Oracle. “We are not trying to solve a decentralized multi-party problem. But rather, we are releasing a new technology that integrates the idea of blockchain into an Oracle database.
“This ensures that mainstream enterprise applications only require minimal changes. We are trying to combine blockchain with all of the functionalities Oracle offers today to bring it to the masses.”
The purpose of Oracle’s blockchain tables is to prevent business-critical data from being modified or deleted. “This feature protects against those who may gain access to the database legitimately,” added Loaiza.
Oracle users aware of potential concerns using blockchain
Oracle users must be aware of some downsides when using a blockchain to store business-critical data. Organizations that store sensitive data on a blockchain could be vulnerable at the endpoints.
Said Lior Lamesh, CEO and co-founder of GK8. “Once you own an organization’s private key, all of its blockchain-based assets are in your hands.
“So, migrating a corporation’s internal database to the blockchain has its benefits. As long as its endpoints are protected with the highest cybersecurity standards.”
Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.
A new study has found that Audius, a blockchain-based decentralized music streaming platform, rewards artists way more than other...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.