Topic: Can a blockchain system be destroyed? - page 2. (Read 1017 times)
Once the blockchain system is formed, it cannot be destroyed. Even if a quantum computer appears, it cannot be destroyed. The blockchain is a human welfare rather than a failure. The future blockchain will change all humanity. However, cryptocurrencies may depreciate significantly.
Can a blockchain system be destroyed?
as far as i'm concerned, we can not destroy blockchain system because it is digital technology and it is decentralized. Can a blockchain system be destroyed?
From my point of view, blockchain system will never be destroyed. Instead of that, it will grow quickly in the future. Can a blockchain system be destroyed?
I know what you mean but I don't think that blockchain system can be destroyed. Blockchain technology is anonymous and it is really helpful, there is no reason that it will be destroyed.
It will be difficult to destroy a block chain system because of its decentralized nature. It does not have a specific server that keeps all the information, but the info is spread in different networks. It will be difficult to destroy a block chain system.
I really do not think so.Blockchai is decentralized, it's hard to control 51% of the blockchain button. Blockchain is one of the most outstanding inventions of the 21st century. You should rest assured about the safety of blockchain and bitcoin.
Your question is somehow vague. Blockchain system gas so many features and so I don't know what you're particularly referring to. Anyway let's get this straight that blockchain is internet, or perhaps part of the Internet and it forms part of coding and so I don't know how it's going to be destroyed. Well, unless perhaps someone destroys the internet and coding, else it is there so far as the the former is there.
Announcing MyEtherWallet v3.24.00: Difficulty Bomb&Updating blockchain
Due to the complexity of the Bomb and the increased risk of hacking, we pushed a rather drastic update that implements a number of changes and improvements, including enhancement of efficiency and scalability of the blockchain, acceleration of transaction speed, and additional security in the form new formats private keys which will help protect users against hacking.
If you are using private key or UTC, then you need to go into the wallet and update manually, otherwise they risk being unprotected.
How do i update my Ethereum wallet?
1. Go to our website MyEtherWallet.com
2. Unlock your wallet using your Keystore File (UTC / JSON) or simply use your private key.
3. Click Unlock and wait for the update.
Please note that you need to manually update your wallet, failure to do so may result in funds being lost.
We are taking these measures to protect both you and our network from phishing and malicious attacks.
Thank you for your cooperation and understanding!
MyEtherWallet Security Team.
If you use other methods, then ignore this message.
Due to the complexity of the Bomb and the increased risk of hacking, we pushed a rather drastic update that implements a number of changes and improvements, including enhancement of efficiency and scalability of the blockchain, acceleration of transaction speed, and additional security in the form new formats private keys which will help protect users against hacking.
If you are using private key or UTC, then you need to go into the wallet and update manually, otherwise they risk being unprotected.
How do i update my Ethereum wallet?
1. Go to our website MyEtherWallet.com
2. Unlock your wallet using your Keystore File (UTC / JSON) or simply use your private key.
3. Click Unlock and wait for the update.
Please note that you need to manually update your wallet, failure to do so may result in funds being lost.
We are taking these measures to protect both you and our network from phishing and malicious attacks.
Thank you for your cooperation and understanding!
MyEtherWallet Security Team.
If you use other methods, then ignore this message.
Yes, I think it can be destroyed theoretically, but
I think it is very difficult and costly to do so in practice
I think it is very difficult and costly to do so in practice
By destroyed do you mean hacked? If so, no it cannot since whatever change has to be approved by more than 50 percent of the nodes and even if you own 50 percent (which is highly unlikely) you cannot make changes in a subtle manner, the ledger technology makes sure every change is recorded so whoever who uses that blockchain will see the changes and detect an abnormality instantly.
Why destroy it? Excellent technology for documents, payment systems, accounting systems and other!
Can a blockchain system be destroyed?
Everything, in my opinion, could be destroyed or hack but for example blockchain is that "good" technology that making any issues is to hard nowadays for everyone.
Well by destroy we have to consider a lot of contexts. In the context of hacking, Yes blockchain can be hacked since it is a software created by humans and as such, it is subject to human errors. For example in May 2016, DAO was attacked by a hacker exploiting a weakness in its smart contract code, the blow dealt was around $60 million. There was also this online theft of $65 million of bitcoin from Bitfinx, based in Hong Kong.
In the context of destroys as in completely remove it from existence, then that power will belong to its owner and since blockchain is decentralized with no owner, i don't think it can be destroyed.
In the context of destroys as in completely remove it from existence, then that power will belong to its owner and since blockchain is decentralized with no owner, i don't think it can be destroyed.
It will be difficult to destroy bitcoins because of the decentralized system. The nodes are spread in different countries and are not connected to a server. With a centralized system, destroying a server will destroy connections to the system.
It cannot be destroyed because it is like a malware now infected all computers around the world and the only one thing that can stop it is the internet. I hope Bitcoin will be the world currency soon.
There's no way to destroy the blockchain system if you are only implying to someone that can basically destroy it without using a massive destruction force.
Decoding, decrypting or anything to make the blockchain system broken isn't possible for now. But there are ways to slow it down but still not a way to destroy it.
In my point of view, I think that blockchain system can be probably destroyed because it’s just a system that human being created. Blockchain, however, will never be destroyed because we all know that how much benefit that this kind of system bring to our life, both in crypto market. Nowadays, there is no doubt that blockchain system is such a useful tool that almost all company, business take the advantage of blockchain to develop conveniently and maybe avoid of fraud and malpractice as well. In short, blockchain is a necessary system both now and in the future. Decoding, decrypting or anything to make the blockchain system broken isn't possible for now. But there are ways to slow it down but still not a way to destroy it.
Can a blockchain system be destroyed?
Blockchain is considered destroyed if the information in blockchain is misleading! This can happen, since any technological system is invented by humans. 51% attack is a way to destroy the blockchain system!
No never block chain system is the most secure system it never destroyed . its a decentralized system so its impossible to be destroy
If you ask for my oppinion, I think for bitcoin to gain global accpetance a few regulations has to be implemented by different governments. The government have always seen bitcoins has a threat to the global financial system, so therefore they won't rest until they succeed in regulating it.
A few "regulations" put forward by governments should be implemented in bitcoin?
This should not happen and will not happen.
Oh come one guys this is about the blockchain and not the bitcoin. The OP clearly mentions can blockchain be destroyed or not!
Blockchain is not located in a single server or hard drive space but its available over thousands and thousands of servers, pc's which are connected tot eh internet. This is connected with orderly form with a cryptography and thus makes it impossible to destruct at all.
You will never find a start and end point of the blockchain and if you have to destroy it completely then you will have to hack all the PC's around the world and workout your technique to intrude into it.
Its impossible.
This is quite difficult because the blockchain is a decentralized system that is not just a management organization. Wanting to collapse it would have to handle too many things. That is not to say Blockchain's security is very good
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