High implementation costs . Just as this technology represents low costs for users, unfortunately, it also implies high implementation costs for companies, which delays its mass adoption and implementation.
Read moreWhy is bitcoin not the future?
Bitcoin transactions are slow and expensive, and its network cannot process large transaction volumes . A bigger problem for an aspiring medium of exchange is unstable value. Bitcoin’s wild price fluctuations, from month to month and even from day to day, make it unreliable for day-to-day transactions.
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 .
Read moreAre there any cryptocurrencies that have failed?
1. Ethereum’s DAO . The Decentralized Autonomous Organization crypto’s failure is probably the most historic because people had such great expectations about it. The DAO came into existence in 2016 and immediately reverberated across the market.
Read moreWhy do crypto projects fail?
“Crypto projects tend to fail when they don’t gain any traction or build a strong community following . Even weak crypto projects can survive when they are able to build a loyal community following.30 Kas 2021
Read moreWhy is blockchain not popular?
The first problem is that without adequate knowledge on how exactly to implement the technology, many companies simply steer clear of it . Blockchain is new territory for everyone, and the reluctance of many to put trust in the system contributes greatly to a delay in widespread use. Most are wary of the unknown.
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