Crypto News

Oracle Wants To Make Blockchain, Crypto More Mainstream

Oracle to take advantage of Blockchain, make cryptocurrency more mainstream

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.”

How useful was this post?

Click on a star to rate it!

Matt Borelli

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.

Related "Blockchain" News

Cardano Ecosystem Venture Fund Announces Investment In COTI
Long Beach (CoinChapter): Cardano’s venture fund, cFund, announced an investment in COTI. The investment will set the path for...
Nodes For Stellar Development Foundation Have Gone Dark
Long Beach (CoinChapter): Nodes for the Stellar Development Foundation have stopped validating transactions for the blockchain. The SDF is...
Cardano Will ‘Prove The Haters Wrong’ Believes Crypto Trader Lark Davis
Long Beach (CoinChapter): Smart contract platform Cardano is quickly becoming one of the most intriguing entities in the crypto...
Graph Blockchain Invests $300,000 In Cardano For Proof-Of-Stake Mining
Long Beach (CoinChapter) – Graph Blockchain Inc. announced an investment of $300,000 in Cardano’s native token, ADA. This is...
Alexander Russell’s Plan For Cardano To Migrate To Decentralization
Long Beach (CoinChapter): Professor Alexander Russell, Senior Research Fellow of Input Output, has introduced a concept to help Cardano’s...
Institutional Investors Stake Over $100 Million In Theta Network
Long Beach (CoinChapter): Theta Network has announced the private equity investors in its latest Enterprise Validator Node. Sierra Ventures,...