The blockchain is a technology that allows sharing of up-to-date information. It presents the great solution to the difficulties of the nation by keeping the network safe. Crypto-currencies such as Bitcoin, Ethereum and Ripple are mounted on it. Here the main problems with blockchain and its solutions described below.
The blockchain technology essentially replaces the intrinsic trust between people or corporate entities by mathematical principles. Many people rely on mathematical principles that will become more expensive. As more nodes come into play, the more computational environment becomes more intensive. In most cases, systematic changes, technological changes, could be better and cheaper than Blockchain solutions.
- Blockchain allows exchanging between users in real-time
The Ethereum community has been the subject of strong debates recently. If the blockchain technology were used as part of a stock trading platform as a mechanism for instant settlement, each participant in the chain can see what each other user do. That would allow a user to market with another in the real time.
- Blockchain is safer than any other virtually available network technology
Public blockchains allow anyone to join. Bitcoin is a good exemplar of a public blockchain where anyone can join the chain. It is open and transparent, which means that everyone in the chain can see all transactions. Private Blockchains are administered centrally and need permission to join. Both public and private blockchains are natively secure because they are immutable. Each record or block is immutable and is linked to all others. The immutability and consensus need of the blockchains make them natively safer than almost any other network technology.
- Blockchain is suitable for storing data
A distributed record through a blockchain-based network can offer a complete transaction history than the selective view. If blockchain users include images as part of their transactions, the data capacity will grow rapidly as will network overload. Due to the dispersed nature of blockchain, all data must be replicated at all nodes in the chain. It is better to use a relational database with separate network storage for some transactional tasks than to grow a blockchain out of control.
- Blockchain arrange mutual meetings between stakeholders
Bitcoin uses the proven SHA-256 algorithm to do the hashing. Studies have shown that quantum computing will eventually lead to that algorithm breaking. Other blockchains are implementing new cryptographic algorithms, where all you have is a developer who assures you that it works. The proposal the community needs to have productive conversations. This is in order to reach an agreement among its members and apply real improvements to the network. That brings mutually with a diversity of stakeholders in the discussion.
What is included in our BlockChain service?
- Create a strong digital identity:
We use cryptographic keys to combine a private and public key to create a strong digital identity.
- Serve as a platform:
We offer a secured platform using blockchain technology. You can exchange cryptocurrencies between smart contracts using our strong and well-developed platform.
- Prove Immutability:
Since blockchain database is usually immutable, we help you by changing this database in a secured way.
- Offer a system of record:
We develop an innovative way for information registration and distribution. Both of your static and dynamic data are safely recorded in our database.