Topic: Is blockchain a perfect solution? - page 7. (Read 2191 times)
It is really good that you pushed in to specific because I was about to misinterpret this thread. If you're going to talk about security, I am 99% sure that this is going to be the best solution in this generation of technology. Blockchain enables you to have great control over your security like passwords. The 1% thing that is left are the threats that could be done that we really don't know.
Blockchain technology is almost impossible to hack because of the process that it takes to overcome is hard and must be knowledgeable on how to crack it. Some news about somebody being hacked are just cases of people being careless and not reading the information well enough that it becomes a trap for non-readers.
using blockchain-based technology has many advantages and many things can be applied to this technology. almost many aspects can use blockchain technology as a backbone. because transparent and open-source system are community needs. with the blockchain technology provides global information disclosure and with blockchain technology development openly there is no longer a monopoly from capitalists.
Bitcoin does have a lot of potentials to grow, but it is not a reliable solution for a long time. Satoshi Nakamoto did not complete his project, will you stay on an incomplete project for your future development. we need an improved blockchain Technology which has complete control on its development no matter if it is controlled by someone but still we need progression. It can be an exponential growth or maybe slow growth but still we are humans and we are going to make a lot of mistakes. On this blockchain, those mistakes will become permanent.
For me, there's no such thing as perfect, everything has its pros and cons. However, I can see that bitcoin is a very promising technology wherein we can make safe & smooth transactions. Thus, I can say that blockchain is the best technology right now but we can't tell for the future because our technologies are advancing and who knows someone might be able to create another technology that is way better that blockchain.
In general, they have some external limitation on who can interact with the blockchain and its features. These are not anything new, they’re distributed append-only data structures with a list of individuals authorized to add to it. Consensus protocols have been studied in distributed systems for more than 60 years. Append-only data structures have been similarly well covered. They’re blockchains in name only, and as far as I can tell the only reason to operate one is to ride on the blockchain hype.
For some years back cryptocurrencies were being used just like the fiat currencies but now it has being integrated in so many industries
Crypto is still a crypto and it still can be used for a currency and for an asset use . nothing really change aside from the support for cryptos , before crypto is limited to use as a currency because not all stores and shops are supporting it but now there were now lots of merchants that are willing to adopt crypto on their business because they see to themselves that crypto is really the future of payment system
For some years back cryptocurrencies were being used just like the fiat currencies but now it has being integrated in so many industries such as the health, and also the production industries. When it was integrated, many people has seen its importance because it is providing so many solutions to their problems or challenges. Due to this reasons I think blockchain is the perfect solution.
Blockchain is a technology that is so good and has many benefits. Now the fact is that Blockchain technology has begun to be applied to various existing sectors. I've seen that a blockchain is being implemented by a financial institution. That proves that with the blockchain system, we can get a variety of weaknesses as well as far better security flexibility.
It's hard or impossible to find a perfect solution, as a proof, blockchain continues to be improved year by year.
However, blockchain is very secure, easy to use and it will be used more and more in the future.
However, blockchain is very secure, easy to use and it will be used more and more in the future.
the realistic answer is no.
blockchain technology works best when you want to decentralized something and use it as a distributed ledger that is protected and updated using cryptography. that is why it is working best when it comes to cryptocurrency (aka bitcoin). but when you want to use it as a "database" then you are going to be facing a lot of inefficiency problems because blockchain isn't supposed to be used that way. for example people keep suggesting healthcare system but it won't work and it never will because the current system of using a simple database is more than secure and efficient for the purpose it serves.
blockchain technology works best when you want to decentralized something and use it as a distributed ledger that is protected and updated using cryptography. that is why it is working best when it comes to cryptocurrency (aka bitcoin). but when you want to use it as a "database" then you are going to be facing a lot of inefficiency problems because blockchain isn't supposed to be used that way. for example people keep suggesting healthcare system but it won't work and it never will because the current system of using a simple database is more than secure and efficient for the purpose it serves.
Yes blockchain is perfecta solutions for the present day problems and if we look at the financial cycle it is true that blockchain has many good features which is now the fast online system and it is good to know that crypto has a good future. Blockchain is perfect solution for today need we need fast transaction due to fast delivery and other needs.
Yes.I think it is.You can transfer any amount of money as fast as possible without any additional fees or charges(except the gas prize) and its very reliable.Safe transaction around the globe.I think its a beginning of world currency.One world one currency. The technology is upgrading day by day.So we can have so soon blockchain will provide solution for world finance.
We live in a world where our online IDs are in the hands of the government and banks, and we rely on them to keep it secure. Blockchain IDs on the other hand, put you and you only in control. Therefore, you can store all your passwords and any other personal information on the blockchain, eliminating the need of passwords in everything. In the future, these ID services could be applied to government services, medicines and any other record keeping agency.
Blockchain system exist to combat greed and middlemen and to give individuals ultimate control of their identity and activity. In a blockchain future, we will see a world where our medical records are immediately available if we are in an accident; where online voting was possible; and where transparency was paramount and greed is disincentivized.
I agree with you, right if people say blockchain technology is the technology of the future, from the beginning bitcoin and blockchain technology were created to overcome financial problems especially in companies like banks and traditional methods that have a lot of disadvantages. But if it is seen that blockchain technology is still lacking in security and as you said, that there is no recovery in your transaction or wallet if you lose your password or make a mistake in transactions, hacking is also often experienced by some exchangers. Blockchain system exist to combat greed and middlemen and to give individuals ultimate control of their identity and activity. In a blockchain future, we will see a world where our medical records are immediately available if we are in an accident; where online voting was possible; and where transparency was paramount and greed is disincentivized.
Blockchain technology can certainly help to make many social processes more perfect. Experience in some regions shows that blockchain can significantly speed up and simplify data processing. In addition, this technology is developing intensively, which may allow it to be adapted for any social needs.
We know that a company like a blockchain can do everything we can. I think it's best to think about all the good thoughts of blockchain. In my opinion, password, pin fingerprints, face recognition, these are probably the best security options. In my opinion, the password, the pin, from this Fingerprint, Face Recognition These are probably the best security options
No it's not perfect, but it's better than the system we have currently, and quite sure there will be a better solution than Blockchain in future.
Indeed. There is no such perfect solution for the problems we are facing right now but there exist better solutions that we might think blockchain technology can do provide. Due to the continuous rise and innovation of our technology, better solutions can do come up not just ending up into blockchain technology only because we people must not only be dependent into one thing at all. But for now, I do believe blockchain technology can do help us to provide our necessities right now.
Because something new is not known how to use, few are the ones that dominate. But it is not perfect for everything, nothing is.
No it's not perfect, but it's better than the system we have currently, and quite sure there will be a better solution than Blockchain in future.
Indeed. There is no such perfect solution for the problems we are facing right now but there exist better solutions that we might think blockchain technology can do provide. Due to the continuous rise and innovation of our technology, better solutions can do come up not just ending up into blockchain technology only because we people must not only be dependent into one thing at all. But for now, I do believe blockchain technology can do help us to provide our necessities right now.
Yeah, it might be the perfect solution to almost everything but then the technology is completely new. There are lots of problems we are facing and still needs a lot of development. This technology is still in its infant stage and it's potential can not just be described in words. Fortunately, every day the community and developers are bringing new solution to the existing problems. Hope to see a better and well developed blockchain system in the future.
In my own opinion since from the start blockchain is very perfect give convient to make fast transaction using hash so therefore i believe a 100 percent blockchain is perfect solution.
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