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Here’s How Blockchain Can Enhance Data Science-Explained
This blog post here will explain how the performance of Data Science can be improved with Blockchain technology. So let’s get into the context
Both Blockchain & Data Science are considered to be the major game changing technologies that are expected to revolutionize the way organizations do business. Well, most of us might be of the view that these two technologies are quite distinct in their functionality with each having its own unique paths and used separately. If so, no wonder you would be surprised to know that Blockchain technology can enhance the performance of Data Science.First What Exactly Is Blockchain & Data Science? Blockchain
Blockchain can be interpreted as a digital ledger which is used to records every transaction that takes place. Being decentralized it is highly impossible to manipulate the transactions that take place in this digital ledger.Data Science
Data Science can be interpreted as a multidisciplinary field with the function to extract valuable information which is encrypted inside structured & unstructured data.
Data Science relates to quantity of data where as Blockchain relates to quality of data.Here’s how Blockchain can enhance Data Science Performance Enables Data Traceability
Blockchain facilitates peer to peer relationships. By making use of ledger’s transparent channels, it becomes quite easy to knowing which data is reliable to use, how to store it, how to update it, where it comes from, and regarding its proper usage. Blockchain clearly helps the Data Science in tracking the data right from the beginning of the process & till the end.Makes Real-Time Analysis Possible
Performing the applications of data analysis in Data Science in real-time is considerably tough. Monitoring the changes in the data in real-time is close to impossible. But now with the help of Blockchain’s distributed nature, it has become possible for the organizations to detect any anomalies in the database from the start.Guarantees Data Quality
Blockchain’s ledger stores the information in different nodes, including both private and public. Whenever the information needs to be shared with other nodes it is thoroughly cross-checked and analyzed at the entry point. This process ensures towards safeguarding the quality of the data.Makes Data Sharing Easier
Ease in the process of flow of data will give rise to several advantages. However, there is a concern over loss of data during the sharing process. However, Blockchain makes it possible; to share data between individuals and also lets them access this data at the same time in real-time. This is the reason why most of the Data Scientists are taking a liking towards Blockchain.Data Lakes
Data lakes is the space where most of the organizations details get recorded by Data scientists In the process of tracking the data Blockchain records everything in a specific block with a specific cryptographic key.
So whoever uses this data will be having access to the right key from the person who originated the data which is simply meaning that the information is accurate, of good quality and genuine.
Apart from these aspects Blockchain also helps Data Science in improving Data integrity, Ensures trust & much more.What to learn more about Blockchain or Data Science? If so then wait no more!!..
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