What are the Barriers Of Blockchain Technology ?

These days as more and more new technologies are coming up people are getting advanced with that technology in a very short span of time but in spite of some immense tight security features, there are some barriers in the industry which overshadow such technologies. It’s obvious that technology has several pros and cons associated with it.

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In this blog, we’ll talk about the 4 major barriers which are faced by blockchain technology and certain solutions to disburse those barriers!

1. Security

Although it’s been over a decade but still certain areas of this technology lacks immunity which eventually makes it prone to the attacks.

2. Ease of Development

This technology lacks the feature of allowing the application to work with a higher level of topmost chains.

3. Impact of 51% attacks
Such kind of attacks are termed to be highly harmful for the digital industry. In this case, a single element can gain access over the overall mining area hash rate which eventually leads to manipulating the whole Blockchain.

4. Scalability of Cryptocurrencies

This is certainly termed to be one of the biggest disadvantages of the blockchain technology as even till today’s date ‘Bitcoin’ is not termed as the scalable digital currency. The recent technical features exhibited by blockchain can record only 7-15 transactions within a limited time span of one second whereas it’s assumed to record 25,000 transactions per second.

Conclusion

As everything in this world comes with benefits and negative outcomes so it’s very much important to isolate the disadvantages associated with it. As ‘Blockchain Technology’ has been introduced to the world a long time back so it’s necessary that it works on the disadvantages associated with it to make this technology the best fit for the digital platform.

How does Blockchain technology work?

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