Blockchain & the IoT
This document discusses blockchains and their relationship to the Internet of Things (IoT). It first provides background on Bitcoin and key aspects of blockchain technology like decentralization and immutability. It then explains how blockchains could make financial services faster, safer and cheaper compared to traditional centralized systems. The document outlines core blockchain design principles and how public and enterprise blockchains optimize scalability and consistency while remaining decentralized. It presents examples of implementing enterprise blockchains using a blockchain software stack with layers for applications, the blockchain, and an underlying database. The document argues that MongoDB is well-suited as the database layer due to its scalability, availability, data model flexibility, querying and secondary indexes.
Blockchain & the IoT
- 1. Blockchains and the IoT Mat Keep Director of Product & Markets, MongoDB mat.keep@mongodb.com @matkeep
- 2. Bitcoin • Released in 2009 via a niche mailing list • Now world’s largest digital currency • Six hundred trillion SHA256 computations performed per second • Worth over $1k per bitcoin – 24,000% growth since launch • Buy pretty much anything
- 3. Blockchain: What’s Special? • Decentralized database maintaining a growing list of records • Peer-to-peer – not owned by a single instance • Any member can add it (if other participants agree) • State is distributed to all nodes • Immutable, tamper-proof • Trusted transfer of assets, value & ownership
- 4. Centralized System of Record Clearing House Ledger Blockchain Faster, Safer, Cheaper
- 5. Financial Services: World Economic Forum
- 6. Image courtesy of Dzone
- 7. 110GB in size 7 transactions per second, multi-minute latency
- 8. Core Blockchain Design Principles SCALABILITY CONSISTENTDECENTRALIZED
- 12. Blockchain Software Stack Application: Supply Chain, Identity Management, Energy Credits, Stocks, etc. Blockchain Layer Database Layer
- 14. Database Layer Rich Queries Scalability & Data Distribution Enterprise Hardened
- 15. Implementation Pattern Blockchain DB e.g. BigchainDB Client 1 Client 2 Admin Client 10,000 Co- Admin 1 Co- Admin 2 Co- Admin 21 control control data Distributed DB MongoDB Core DB MongoDB Client 1 Client 2 Client 10,000 data
- 16. How Real is This? Electric Vehicle Charging Music IP Licensing Trade Stores Embedded Database Layer
- 17. Why MongoDB for the Blockchain Database Scalability & Performance Always On, Global Deployments Data Model FlexibilityExpressive Query Language & Secondary Indexes Strong Consistency & Data Integrity Enterprise Management & Security
- 18. Learn More • Visit MongoDB Stand S12 • Download Enterprise Grade Blockchain whitepaper • Book a 2-hour workshop
- 20. Block #122 Hash Timestamp Nonce Transaction #817 • Metadata • Transaction Data Transaction #725 • Metadata • Transaction Data Transaction #933 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #123 Block #123 Hash Timestamp Nonce Transaction #7002 • Metadata • Transaction Data Transaction #3155 • Metadata • Transaction Data Transaction #2111 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #124 Block #124 Hash Timestamp Nonce Transaction #353 • Metadata • Transaction Data Transaction #10005 • Metadata • Transaction Data Transaction #8555 • Metadata • Transaction Data Transaction #xxxxx • xxxxxx • xxxxxx Block #125 Blockchain Under the Covers
- 21. Characteristic MongoDB Traditional Blockchain Blockchainified MongoDB Database Characteristics Queryability ✔ ✔ Scale ✔ ✔ Operationalized ✔ ✔ Blockchain Characteristics Decentralized ✔ ✔ Immutable ✔ ✔ Assets ✔ ✔ Marrying Blockchain and the Database
- 22. Processing (e.g. Ethereum, Hyperledger) File System (e.g. IPFS) Database Blockchainified MongoDB (eg BigchainDB) Applications DecentralizedCentralized Processing (e.g. local server, EC2) File System (e.g. Linux FS, HDFS, S3) Database MongoDB Applications Processing (e.g. local server, EC2) File System (e.g. Linux FS, HDFS, S3) Database Blockchainified MongoDB (eg BigchainDB) Applications Database MongoDB Partly Decentralized Enterprise Blockchain Maturity Model