About Big Data Block
The Democratization of Big Data Block. Making Big Data Accessible, Affordable and Secure for Everyone thru the Power of Blockchain Technology. Big Data Block (BDB™) combines Big Data solutions and blockchain technology utilizing Ethereum’s smart contract and token capabilities. BDB™ democratizes Big Data for everyone. Combining the best of Big Data and the best of blockchain they remove the deep technical skills and costs needed to leverage a Big Data environment and becoming the first BDaaS (Big Data as a Service) on a blockchain. Introduction.
Token Basic Information
|Token Name||Big Data Block|
|Initial Token Price||1 BDB = 0.5 USD|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
Problems With Big Data
There are a multitude of issues currently with Big Data including but not limited to cost–it’s prohibitively expensive, accessibility–the vast majority of organizations in the world lack the capacity to implement any type of Big Data solution, and security–even the largest multi-hundred million dollar Big Data environments are susceptible to being hacked. Every day, they create 2.5 quintillion bytes of data. To put that into perspective, 90 percent of the data in the world today has been created in the last two years alone – and with new devices, sensors and technologies emerging, the data growth rate will exponentially accelerate.
Big Data Block make Big Data computational analysis accessible, inexpensive, and more secure. Accessible–via a simple and streamlined GUI. Inexpensive–via this simple pricing tiers with 1000% annual savings over traditional Big Data. Secure–via BDB™ encryption. By using blockchain technology they spread the computing burden across a multitude of computing devices in the BDB™ global blockchain ecosystem. BDB™ is built and optimized to focus solely on Big Data analysis and removes all the associated headaches.
In addition, in order to foster the sharing of knowledge, They’ve created the BDB™ Knowledge Exchange (KE), a portal that allows people with technical and/or data science skills to offer their services to anyone that needs this help. The marketplace matches this customers with technical support experts.
What Value Does Big Data Bring To Companies?
Organizations both large and small are recognizing that they can make smarter decisions by processing and analyzing all the data they have. In today’s information economy data has evolved into a minable asset. These assets need to be analyzed in real time because small changes in the data have to be understood very quickly. By leveraging the power of big data companies can now look at much larger datasets with greater speed providing insights that deliver value and a competitive advantage.
The Blockchain And Tokens
The BDB token utilizes Ethereum which will manage the entire job creation, job metadata (detail about the job), payment for assisting in the job processing, and the full auditability of the end to end transaction. Ethereum provides the framework for all of this with its smart contract and distributed ledger capabilities. The tracking mechanism to make this all happen is a token. This token is used and allows for final payment of the job to the nodes that assisted in the data processing.
A user will get BDB’s through the token sale or via purchase on exchanges and these tokens are the mechanism to track the end to end job and the detail about each job. This will also be the mechanism used to compensate those that made their nodes available to process the data.
How Does Big Data Block Work?
While big data is very popular now it still requires a fair amount of technical expertise and expense to implement. Hiring or contracting big data experts is expensive. Scaling a big data environment also requires significant technical capabilities. Large companies with deep pockets can do this, but not everyone can. That’s the problem we are solving. We are democratizing big data analysis.
Understanding Big Data
Big data is a term used for data sets that are very large or complex where traditional data processing application software is inadequate to handle processing the scale of information quickly and cost-effectively. Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating and information privacy.