What are the two main ways to store a document on the blockchain
Cryptocurrencies such as Bitcoin have shown the use of blockchain technology for different forms of money and currency. Although they store transactions within blocks, we can no doubt extend this data beyond financial data. In theory, we can store any form of data on a blockchain.
2 Main Ways to Store a Document on the Blockchain
In the last few years, curiosity has increased in using blockchains for storing documents. This offers many benefits such as immutability, decentralization, etc. for storing documents on a blockchain.
Besides the benefits it has to offer, there are multiple ways you can store your transaction on the blockchain network. The two main ways to keep a document on the blockchain are:
1. Storing a Hash
2. Storing the Whole Document
Storing a Hash
Storing the hash of the document on-chain while maintaining the document someplace else is the most efficient method. You can keep the document either on a distributed storage system or in a centralized database. The document will be put through a safe and secure hash algorithm, and then the hash will be stored in a block. It will, in return, help in saving a lot of space and money. Any change will result in a whole new hash value, entirely different from the original document. As a result, you will know if someone attempts to make any changes to the original document.
Storing the Whole Document
Certain blockchains allow storing the whole document on-chain. However, there are certain restrictions involved when uploading the entire document to the blockchain. One of the most efficient ways to keep the documents on-chain is using the Ethereum blockchain. This does not have any size restrictions, so users can easily upload large files to the chain.
Another way to store the document is by mixing both the above methods, keeping the data subsets along with the hash. This strategy involves storing some parts of the document, such as signatures or the document hash on-chain; therefore, maintaining decentralization and complete transparency.
SAFEBOX, allows users to share documents with anyone on the network. It works similar to any email service, except for the added blockchain security. Blockchain security will ensure that the data is untampered and safe.
Trending Technologies 2020
Why SAFEBOXTM Document Sharing is Ideal for Your Professional Needs
As a notary public, you are tasked with handling numerous legal procedures, each involved with different types of documents. Without a legitimate document sharing platform, your job can become tiring due to a lack of an efficient file sharing technique. Furthermore,...
Easy Document Sharing for Notary Publics with SAFEBOXTM
SAFEBOXTM gives you a platform to handle all your document sharing responsibilities hassle-free. It's easy, fast, secure, and reliable. As a notary public, you get to deal with sensitive information daily. SAFEBOXTM ensures that all your data is secure from...
Trends in Document Sharing Technology
The world is undergoing a fast-paced change in technology, which is revolutionizing how things around us work. In particular, the 21st century has seen a proliferation in smart devices, with new inventions coming up every day. One factor that has been subject to...
Security Issues with Document Sharing Technologies
Today, the corporate world is undergoing a swift change in operations, a feat that has been greatly influenced by technological advances. Employees are using different techniques to transfer important documents to clients and fellow workers. This has revolutionized...
How Can Blockchain Technology Improve Data Storage?
Decentralized Cloud Storage Cloud storage systems maintain data on remote servers that are accessible from the internet. However, unlike conventional cloud servers, decentralized cloud storage does not keep user data on a single centralized server. A decentralized...
Our Latest Updates
Why SAFEBOXTM Document Sharing is Ideal for Your Professional Needs
As a notary public, you are tasked with handling numerous legal procedures, each involved with different types of documents. Without a legitimate document sharing platform, your job can become tiring due to a lack of an efficient file sharing technique. Furthermore,...
Easy Document Sharing for Notary Publics with SAFEBOXTM
SAFEBOXTM gives you a platform to handle all your document sharing responsibilities hassle-free. It's easy, fast, secure, and reliable. As a notary public, you get to deal with sensitive information daily. SAFEBOXTM ensures that all your data is secure from...
Trends in Document Sharing Technology
The world is undergoing a fast-paced change in technology, which is revolutionizing how things around us work. In particular, the 21st century has seen a proliferation in smart devices, with new inventions coming up every day. One factor that has been subject to...
0 Comments