The redundancy of blockchains makes them hard to scale . Every device in your network must have a copy of every transaction made. That means hundreds of copies of the same data! It requires massive storage, and the bigger the blockchain, the more power the nodes need to process everything.
Read moreWhat are blockchain limitations?
Because of its limitations ― issues with scalability, implementation, private keys, integration with legacy systems, high energy consumption, and the lack of talent ― blockchain could cause temporary business disruptions.
Read moreWhat problems blockchain solve?
One thing is certain now: blockchain has the potential to solve the acute issues of data storage and security, transactions processing and intermediaries, supply chains, intellectual property, government operations, charity, voting, and crowdfunding .
Read moreCan blockchain be hacked?
Since blockchain is supposed to be extremely secure and unalterable, many individuals have dubbed this technology as “unhackable”. However, recent incidents have unfortunately shown that hackers can access blockchains in certain situations .
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