Must Blockchain be a slow and expensive Database? Cardano is going to rewrite History.

Paper will be used less and less to leave information for future generations. Databases can serve us well. The asset information will be in the blockchain.

For a long time, it has been said that blockchain is a slow, expensive, and ineffective database and that it cannot be used for anything other than cryptocurrency. In the article, we will explain why a database cannot be a blockchain and that blockchain cannot be necessarily slow or expensive unless it is intended to be. PoS network consensus can change it and Cardano builds one.

The database is not a blockchain

Let’s start by refuting one myth. The database will never be blockchain. To keep it simple, a database is a space for storing things. Your employer probably has a database and stores digital information about you. Every e-shop has a database keeping information about all goods, orders, customers, etc. Blockchain is a ledger. You can imagine the ledger as a balance sheet or an account book. It is a collection of things of the same kind and there is information about ownership. A Digital ledger is able to keep a track of history and it is possible to get the latest valid state. As a user of a cryptocurrency wallet, the ledger can provide information on how many coins Alice or Bob owns.