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Disadvantages of blockchain,What are the drawbacks behind blockchain technology innovation

Time : 09/12/2021 Author : vg8yo1 Click : + -
        We know that there is no regret medicine in the world of blockchain, and users can hardly do anything about the data changes of blockchain. If we negligently fill in the wrong transfer address, it will directly cause permanent loss and cannot be cancelled. In recent years, with the concept of blockchain coming into people's eyes, people's discussion on "blockchain technology" has never stopped because it is known as the core technology with the most potential to trigger the fifth round of subversive revolution with a series of characteristics. FN information (I think that any technology has two sides, and so does blockchain. Although blockchain technology has very promising prospects in many fields, the lack of complete application of blockchain technology so far is enough to show that its disadvantages can not be ignored.
 
        Especially in the near future, with the collective collapse of the world's mainstream digital currencies, the blockchain as the underlying technology of digital currencies has also begun to be questioned by people. So what are the drawbacks behind blockchain technology innovation? This is the main problem discussed in this paper. The first is the performance of the blockchain. As a barrier to the development of the blockchain industry, the performance of the blockchain has always been the core issue of the industry. Because the core potential of the blockchain is to disperse the transaction and computing capacity originally handled by the central data repository of the institution to the distributed database for processing. At present, there are many problems that affect the performance of the blockchain, such as the time interval between blocks, the actual storage capacity of a single block, the processing time of a single request, and the actual size of transaction data stored in the blockchain.
 
        This also leads to the fact that the current development state of blockchain is not enough to support large-scale landing applications, which is also the fundamental reason why blockchain technology has not been commercially available on a large scale. Second, we all know that blockchain has a feature of decentralization. Without a centralized platform, our data will no longer be controlled by these centralized platforms. This will be a good treasure house of our privacy, but it is not. Because the data of the blockchain is transparent and traceable, for users, this also leads to the user's privacy cannot be guaranteed to a certain extent. The encryption algorithm and consensus mechanism in the blockchain architecture ensure the credit problem. Each node in the network certifies itself and ensures honesty in the accounting process.
 
        That is to say, we take our data from the centralized platform, but we must unconditionally hand it over to the encryption algorithm builder in the blockchain architecture, that is, the person who writes the code. Even if we can have enough trust in this party, it is not very likely that it will be attacked by hackers in large quantities. From the address of digital currency, the attacker can guess that these addresses belong to the same user with great probability. In addition, the change address will also expose the relevance of the user's address. The attacker will guess that this account is a change address based on this, so as to associate other accounts with it, and then combine the address information of the service provider and the public ledger, which makes the consumption records of individual users exposed, The privacy of users will not be well protected.
 
        The other is the characteristics of the blockchain, such as non tampering and revocation. We know that there is no regret medicine in the world of blockchain, and users can hardly do anything about the data changes of blockchain. If we negligently fill in the wrong transfer address, it will directly cause permanent loss and cannot be cancelled. If we lose the key of the digital currency wallet, it will also cause permanent loss irreparable. Finally, there is the delay of blockchain transactions. We all know that there is a large amount of information on the blockchain. But at present, the transaction processing capacity of blockchain technology is very weak. For example, in the bitcoin transaction, the validity of the current transaction is affected by the network transmission, because most nodes on the network need to wait until the next accounting cycle to know the transaction, and now only 7 transactions can be processed per second.
 
        The number of unconfirmed bitcoin transactions in the whole network is very large. Therefore, the transaction data of the blockchain is delayed.
 
        
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