The principal challenge associated with blockchain is a lack of awareness of the technology, especially in sectors other than banking, and a widespread lack of understanding of how it works . This is hampering investment and the exploration of ideas.
Read moreIs blockchain really the future?
Blockchain technology will fundamentally change how we live and work in the future . The Global Blockchain Market is expected to reach USD 34 billion by 2026, with a growth rate of 45%.
Read moreWhy is blockchain trustworthy?
The chaining of the blocks ensures that the content of the block remains trustworthy at all times . For example, if a change is entered in a block, such as a payment statement, then all the computers in the entire network check the blockchain to see if the transaction was valid.
Read moreIs there a future for blockchain?
At the end of 2021, the global cryptocurrency market cap reached $3 trillion – an all-time high. Cryptocurrencies like Bitcoin and Ethereum are underpinned by blockchain technology. The adoption of blockchain, and the technology and products it supports, will continue to impact business operations dramatically .7 Oca 2022
Read moreWhat is the scope of blockchain in future?
For obvious reasons, Blockchain technology’s future scope majorly lies in the field of Cybersecurity . Although the Blockchain ledger is open and distributed, the data is secure and verified. The encryption is done through cryptography to eliminate vulnerabilities such as unauthorized data tampering.
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