The Major Limitations Of Blockchain Technology – Explained

Let’s face it – the blockchain technology has its limitations which might be inappropriate for a lot of digital interactions.

First, blockchains are not resistant to bad actors; on the contrary, they react to attacks and become stronger. If the blockchain is not a great grid of nodes widely spread, it is more difficult to get the full benefit.

If you want to use the blockchain as a database, every information that you put in there has to be of very high quality. Not every data that you put on a blockchain can be trustworthy, so this is why it has to be watched carefully and put in place accurately.

Another problem for the blockchain technology is politics. Miners eventually do form a type of governance model so this may lead to public disagreements between certain community sectors.

Also, there is one thing security wise. Satoshi Nakamoto when launching bitcoin said that if more than half of the nodes working in service to the network tell a lie, the lie will become the truth and called it the 51 % attack.
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This is why the mining process has to be watched over closely by the entire blockchain community and make sure no one gains so much influence.

Learn more about blockchain technology