Unit 10.4
Big Data and Blockchain Explained
IT 231: IT and Application
Learning Objectives 🎯
By the end of this chapter, you will be able to:
- ✅ Define Big Data and its key characteristics (the "Vs").
- ✅ Define Blockchain and its core concepts of decentralization and immutability.
First, let's tackle Big Data 📊
Big Data refers to extremely large and complex datasets that traditional data processing tools can't handle.
Think of it not just as "a lot of data," but data that challenges how we store, process, and analyze information.
The 3 Vs of Big Data
These three characteristics define what makes data "Big".
Volume
The sheer scale and size of the data.
Velocity
The incredible speed at which data is generated.
Variety
The different forms and types of data.
Understanding the 3 Vs
-
Volume (Scale):
- Terabytes, petabytes, and even exabytes of data.
- Example: The data generated by all Facebook users in a single day.
-
Velocity (Speed) ⚡:
- Data is generated in real-time or near real-time.
- Example: Stock market data, live social media feeds.
-
Variety (Forms):
- Structured: Organized data (e.g., databases, spreadsheets).
- Unstructured: Unorganized data (e.g., emails, videos, social media posts).
Activity: Where Does Big Data Come From?
Discussion Question 1: What are some of the sources that generate "Big Data"?
- 📱 Social Media (posts, likes, shares)
- 🌐 Web logs and clickstreams
- 🛰️ IoT devices (sensors, smart homes)
- 💳 Financial transactions
- 🧬 Scientific research (genomics, climate data)
Now, let's switch gears to Blockchain ⛓️
Blockchain is a distributed, immutable digital ledger used to record transactions securely.
🔍 It's the foundational technology that powers cryptocurrencies like Bitcoin, but its potential is much broader.
Core Concepts of Blockchain
Distributed / Decentralized
- The ledger is copied and spread across a network of computers.
- There is no single point of failure or central authority (like a bank).
- This creates transparency and resilience.
Immutable
- Once a transaction (a "block") is added to the chain, it is cryptographically linked to the previous one.
- Altering a block is computationally infeasible, making the record permanent and unchangeable.
Centralized vs. Decentralized Systems
Traditional Centralized Database
- Controlled by a single entity (e.g., a company, a bank).
- Single point of failure.
- Data can be altered or deleted by the central authority.
- Less transparent.
Blockchain (Decentralized)
- Controlled by the network participants.
- Highly resilient; no single point of failure.
- Immutable records are extremely difficult to change.
- Highly transparent and auditable.
Practical Applications of Blockchain
Beyond cryptocurrency, blockchain can revolutionize many industries.
Discussion Question 3: What is another potential application for blockchain technology?
- Supply Chain Management: Tracking goods from origin to consumer to ensure authenticity.
- Voting Systems: Creating secure and transparent election processes.
- Healthcare: Securely managing and sharing patient medical records.
- 🇳🇵 Nepal Context: Could be used for a transparent and tamper-proof land registration system ("Malpot").
Summary & Key Takeaways
- Big Data is defined by its massive Volume, high Velocity, and wide Variety.
- Blockchain is a revolutionary technology providing a secure, decentralized, and immutable way to record transactions.
- While famous for powering Bitcoin, blockchain's applications in other fields are vast and growing.