The success of Bitcoin shows that financial transactions can be conducted in a decentralized way. Whether you believe in Bitcoin as a currency or not, there is no denying that Bitcoin’s underlying storage model and consensus-based protocol, the blockchain, validated a new data architecture for building networked applications.
In a world of Big Data and the Cloud, the Bitcoin blockchain, the largest of its kind, is still relatively small at around 25 GB. As developers start to imagine new applications beyond money-like infocurrency, they find that they want to store additional metadata or even rich content in the blockchain.
In this talk, Chris Tse, an architect and designer of digital ecosystems, will present a hierarchical data storage model that divides a decentralized application storage needs into three tiers, to be stored in the blockchain (GBs), a NoSQL document store (TBs), and BLOB store (PBs), respectively. Using cryptographic techniques along with Smart Contracts, Chris will show how developers can maintain the trustless model advocated by the Bitcoin enthusiasts, while tapping into the proven scalability of distributed database clusters like Couchbase and P2P file transfer protocols like BitTorrent.
Chris will present an example of how Monegraph, a digital artwork registry and marketplace spearheaded by NYU art professor Kevin McCoy, is moving to this tiered architecture using a combination of the Ethereum blockchain, Couchbase document store, and Amazon S3 / BitTorrent to build vibrant market for buying, selling, and licensing digital art.