Is blockchain a flop?

Attractive alternatives to blockchain for distributed ledgers include Hashgraph, Iota Tangle and R3 Corda . Both Iota and Hashgraph use Directed Acyclic Graphs (DAGs) as an alternative data structure for maintaining the ledger.

Big business is adapting to blockchain There have been flops . … The Australian Securities Exchange ASX has been planning to replace its clearing system with a blockchain-based system. It has been in development since 2015; the latest estimate for its deployment is spring 2021.

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.

It is expected that blockchain will expand its scope of usability in many more sectors including finance, data analysis, and the Internet of Things with the advent of 5G . Usage of the Blockchain system in different sectors apart from cryptocurrencies and NFTs can easily save time, money and solve many problems.