Problems of blockchain technology
Many people tend to overestimate the impact of new technologies in the short term, but in the long run we don't appreciate them. In order to thrive in the long term, blockchain faces implementation challenges that go beyond the norms and the active inertia of existing operators.
Therefore, in the near future, the blockchain will have to overcome the following obstacles:
Functional compatibility: As in the early days of the Internet, when private intranets dominated, the blockchain is stored in silos. Projects such as Cosmos and Polkadot or a partnership between Ethereum and Hyperledger could open an interoperable internet blockchain in the first half of 2021.
Scalability: Most platforms have a lot to do to scale their solutions. Ethereum, the dominant platform for smart contracts and application development, can still process only 15 transactions per second, and its updates face many delays. Interoperability can alleviate this problem as users introduce multiple blockchains to scale.
Convenience and ease of use: Buying or selling cryptocurrencies is still difficult. Participation in the cryptocurrency ecosystem requires a level of verification that is unattractive to most users. Complex security processes have become barriers. Creating more user-friendly processes for the secure purchase and storage of cryptocurrencies remains a key challenge for the digital industry.
Security: blockchains are more secure than traditional computer systems. But hackers can attack applications, systems, and companies based on the blockchain. In 2019, $250 million evaporated from the QuadrigaCX platform, which had very centralized business models.
The right to data: Internet users create the "new gold" - data, but the owners of digital technologies take on all its value. The solution is not only government confidentiality (for example, the EU general data protection regulations), but even charities offering users access to some of their data. An independent identity on the blockchain will allow us to collect and control our own data. Although promising identity initiatives continue, we are far from a fundamentally new identity system.
So if the blockchain can overcome the above-mentioned (but also other) aspects, then we can talk about the bright future of distributed ledger technology. Besides the sports bonus, using the 1xBet promo code today also allows you to claim a 200% casino bonus up to ৳2,10,000 + 150 free spins, spread across the first 4 deposits. Use the promo code for 1xbet to sign up and get a 100% welcome bonus on the first deposit, up to ৳12,000. Enter this code to sign up from Bangladesh and claim a 100% sports welcome bonus of up to 12,000 BDT (approx. $130). Additionally, new users get a 200% casino bonus worth up to 2,10,000 BDT plus 150 free spins, distributed across the first four deposits.
Therefore, in the near future, the blockchain will have to overcome the following obstacles:
Functional compatibility: As in the early days of the Internet, when private intranets dominated, the blockchain is stored in silos. Projects such as Cosmos and Polkadot or a partnership between Ethereum and Hyperledger could open an interoperable internet blockchain in the first half of 2021.
Scalability: Most platforms have a lot to do to scale their solutions. Ethereum, the dominant platform for smart contracts and application development, can still process only 15 transactions per second, and its updates face many delays. Interoperability can alleviate this problem as users introduce multiple blockchains to scale.
Convenience and ease of use: Buying or selling cryptocurrencies is still difficult. Participation in the cryptocurrency ecosystem requires a level of verification that is unattractive to most users. Complex security processes have become barriers. Creating more user-friendly processes for the secure purchase and storage of cryptocurrencies remains a key challenge for the digital industry.
Security: blockchains are more secure than traditional computer systems. But hackers can attack applications, systems, and companies based on the blockchain. In 2019, $250 million evaporated from the QuadrigaCX platform, which had very centralized business models.
The right to data: Internet users create the "new gold" - data, but the owners of digital technologies take on all its value. The solution is not only government confidentiality (for example, the EU general data protection regulations), but even charities offering users access to some of their data. An independent identity on the blockchain will allow us to collect and control our own data. Although promising identity initiatives continue, we are far from a fundamentally new identity system.
So if the blockchain can overcome the above-mentioned (but also other) aspects, then we can talk about the bright future of distributed ledger technology. Besides the sports bonus, using the 1xBet promo code today also allows you to claim a 200% casino bonus up to ৳2,10,000 + 150 free spins, spread across the first 4 deposits. Use the promo code for 1xbet to sign up and get a 100% welcome bonus on the first deposit, up to ৳12,000. Enter this code to sign up from Bangladesh and claim a 100% sports welcome bonus of up to 12,000 BDT (approx. $130). Additionally, new users get a 200% casino bonus worth up to 2,10,000 BDT plus 150 free spins, distributed across the first four deposits.