Blockchain. Problem lies Within

Source: consensys.net
Source: datareportal.com

“Exist” is not “Solve”

  • Computing power. User devices often cannot provide the computational speed required for efficient work with the blockchain. Therefore, most corporate and public blockchain solutions are only partially decentralized, if not entirely dependent on corporate servers. Blockchain is a reliable structure. But not fast. “Security at first” is the basic principle of the blockchain. For those data that prevails on the Internet and other networks, this principle does not apply. The modern consumer absorbs content at a tremendous speed, mainly on mobile devices, which imposes serious restrictions on performance and the amount of memory used by the device.
  • Data storage size. Most of the existing blockchain solutions are built on platforms that are unsuitable for storing huge amounts of data. For example, using the LiteCoin blockchain to store the workflow in a midsize company can bankrupt it. Someone has to contain the incredible volumes of IT infrastructure required to store data and process requests for the entire blockchain? Therefore, we can conclude that storing data in the blockchain itself greatly increases the volume of the blockchain and slows down the data addition process.
  • Control problem. If the network, in which the participants work, is controlled by one person, then there is always a risk of losing access at the request of that person. But what if the user has saved in such a service a food list? Or a list of meetings? Or in a closed segment of the network exists a company’s document flow? A modern person relies heavily on such things as Google Notes, Google Calendar, Google Drive, but does not even think about what the loss of access to them may cost.
Source: changenow.io

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