North Carolina-based Fluree has raised $4.7 million in its initial funding round for the company’s blockchain-based info system, per a report by tech Crunch on June 3.
The firm’s blockchain info product, FlureeDB, purports to be “an immutable , time-ordered blockchain database” per its documentation. in addition, users will reportedly opt to run the info privately or on a federated blockchain network. chief executive officer Brian Platz explained:
“If you would like 1000th decentralization, something like Bitcoin, it’s visiting be slow. You can’t have your cake and eat it too. If you would like to, you'll decrease the amount of centralization. thus there’s a spectrum there, and that we specialise in giving individuals the knob to regulate that supported what they’re trying to do.”
However, Platz comments that using blockchain technology for databases is fascinating, due to the trust and transparency that a blockchain provides:
“The real edges it provides is immense integrity round the information, thus you'll prove it's ne'er been tampered with, WHO place it in there, etc., one thing you can’t do with current information bases or alternative data management technologies.”
According to a politician Fluree web log post, computer code developer Lillian Podlog coded a cryptocurrency using FlureeDB in Sep. The new cryptocurrency, known as “CashCashCash” (3C) may be employed in any FlureeDB application unfinished any assessment, she says.
As antecedently reported by Top Market Group , United States-based tracking and shipping giant FedEx has been trying to form a blockchain-based info. However, FedEx blockchain planner valley Chrystie says there's how to travel before the blockchain-based different outperforms traditional methods:
“To quite burst the bubble, it’s not our solely database, it’s not our greatest database, it’s not presently very fast or terribly scalable and it’s not very mature, right?”
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