Topic: Limitations of Blockchain. What are they? (Read 1037 times)
I think the biggest task we face is scaling without sacrificing any of the underlying privacy and security problems it done so well to solve
I still havent got the meaning of blockchain means what are they and why are they even used?
Then, try your best to digest this: Wikipedia/BlockchainI made my research about blockchains limitations and one of which is Human Error. Here it says,
If a blockchain is used as a database, the information going into the database needs to be of high quality. The data stored on a blockchain is not inherently trustworthy, so events need to be recorded accurately in the first place.
The phrase 'garbage in, garbage out' holds true in a blockchain system of record, just as with a centralized database.
So you're saying that, if a monkey inputs a data into a blockchain-based database and the result was incorrect or an error, the problem came from the blockchain?If a blockchain is used as a database, the information going into the database needs to be of high quality. The data stored on a blockchain is not inherently trustworthy, so events need to be recorded accurately in the first place.
The phrase 'garbage in, garbage out' holds true in a blockchain system of record, just as with a centralized database.
No, "human error" is not a blockchain limitation. If it was, Everything that involves human interaction has "human error" limitation.
Read this post from the first page: https://bitcointalksearch.org/topic/m.30676552
I made my research about blockchains limitations and one of which is Human Error. Here it says,
If a blockchain is used as a database, the information going into the database needs to be of high quality. The data stored on a blockchain is not inherently trustworthy, so events need to be recorded accurately in the first place.
The phrase 'garbage in, garbage out' holds true in a blockchain system of record, just as with a centralized database.
If a blockchain is used as a database, the information going into the database needs to be of high quality. The data stored on a blockchain is not inherently trustworthy, so events need to be recorded accurately in the first place.
The phrase 'garbage in, garbage out' holds true in a blockchain system of record, just as with a centralized database.
Can't scalability issues be solved through a sidechain ?
This is the Bitcoin board so I'll be speaking about the Bitcoin blockchain....
The first and most evident "limitation' of blockchains is scalability.
Public blockchains are very hard to scale especially on-chain.
This is because of the way bitcoin achieves consensus; most nodes must verify a transaction (or block) is valid.
If the block size is too high then a lot of nodes will be cut off and this leaves the power of the network in the hands of a few people which leads to centralisation.
Also, if the block size is too low then obviously a lot of transactions won't be able to fit and this leads to high fees during high thoroughput periods as people will pay more for their transaction to be mined.
The first and most evident "limitation' of blockchains is scalability.
Public blockchains are very hard to scale especially on-chain.
This is because of the way bitcoin achieves consensus; most nodes must verify a transaction (or block) is valid.
If the block size is too high then a lot of nodes will be cut off and this leaves the power of the network in the hands of a few people which leads to centralisation.
Also, if the block size is too low then obviously a lot of transactions won't be able to fit and this leads to high fees during high thoroughput periods as people will pay more for their transaction to be mined.
There are many drawbacks some of which are Network size, network speed but not human error as its an automated public ledger
I think may be its the scalibilty but pardon me as i know not much about it. The term i just heard it from my friend 
don't listen to friends,listen to nullius
you can read the topic and find many interesting things that can be called limitations of blockchain
all of them(or at least the majority of them) were discussed at length,plus some interesting insights into the most popular
misconceptions about quantum computers resistance,cryptography and fire hydrants
I think may be its the scalibilty but pardon me as i know not much about it. The term i just heard it from my friend
I think one of its limitations is that as bigger data are embedded into it, the larger the transaction fee and the slower it may process. Ofcourse, as more people indulge into that specific blockchain, more files and data will be stored leaving some of it unconfirmed. This delays transactions.
Blockchain's limitation are known to its complexity because blockchain technology requires new vocabulary to installed. It is made of cryptography codes, but there are some details provided by the internet about glossaries and indexes that are easy to understand for us to be familiar with it. Another thing is the human error, because if a blockchain is used as a database, the information will be inputted in the database must be a good quality. The data stored on a blockchain is not inborn safe or trustworthy, so if that would be the case it is obvious that you need to have a back up for those data that you're going to stored. Basically, blockchain technology is an undeniably master piece invention because it is a decentralized technology but still blockchain isn’t perfect.
I still havent got the meaning of blockchain means what are they and why are they even used?
Blockchain is a new kind of database - block or records connected to another block. That's the simplest explanation. However, I want to ask the hard question.
What are the limitations of blockchain? I know this is a really good innovation and I highly support it, not because I join the bandwagon, but because bitcoin will not exist if not because of it.... But I want to have a better understanding of the blockchain (in layman's terms please) if I want to get really serious about cryptocurrency and ICOs. My second question is, what are the things experts do to improve blockchain?
What are the limitations of blockchain? I know this is a really good innovation and I highly support it, not because I join the bandwagon, but because bitcoin will not exist if not because of it.... But I want to have a better understanding of the blockchain (in layman's terms please) if I want to get really serious about cryptocurrency and ICOs. My second question is, what are the things experts do to improve blockchain?
The two most unavoidable limitations of blockchain will be its size and the transaction tax & speed .
When the market cap reaches to its highest extend it becomes unavoidable to overlook the shortcomings rising due to the network size . It gets filed and overloaded with the unconfirmed transactions . Moreover , that scenario leads to high transaction fees and its long delays.
I think the limitations are in scalability and security. That's if it's a decentralised blockchain. Although I think bitcoin is proving that it is possible.
hero member
Activity: 2786
Merit: 657
Want top-notch marketing for your project, Hire me
Blockchain is not perfect and everything is this world have it own limit. However, I only know 2 limitations of blockchain network. (1) The limited total number of transactions that blockchain network can process per seconds. An Example bitcoin network can process 5transaction per second while Ethereum process 7 transaction per seconds. (2) The 51% attack.
Reading through this thread, I am missing the positive developments. I mean, by the headline people get already distracted - ok, but you were explicitly asking about positive developments.
With many answers here I wrote up (unintentionally) something, which might answer your question, especially looking at the newer developments.
https://bitcointalksearch.org/topic/m.31895112
When re-reading the headline, I think it should be precisely this: „what is it in the mind of people, what makes them think, there are limitations in blockchain“
With many answers here I wrote up (unintentionally) something, which might answer your question, especially looking at the newer developments.
https://bitcointalksearch.org/topic/m.31895112
When re-reading the headline, I think it should be precisely this: „what is it in the mind of people, what makes them think, there are limitations in blockchain“
The blockchain is decentralized, and one of the meanings of decentralization is that there is no one person, or an institution is in a position of power, and no one has the final say. Any "decision/status/change, etc." requires participants to use a mechanism to achieve the same understanding, which is the limitation of the blockchain.
There was a time when the Bitcoin blockchain and the Ethereum blockchain were filled with numerous transactions which lead to overflow of transactions in the memory pool.
No. As long as transactions remain unconfirmed in mempools, even if it concerns millions of transactions, they aren't 'filling' the blockchain. Transactions only 'fill' the blockchain once they are confirmed, and thus are no longer in any mempool. Otherwise Jihan & Co would have made sure the current blockchain would be a few terabyte in size already. Other scalability issues are almost fixed with the implementation of Segwit.
What scalability 'issues' has Segwit fixed according to you? Segwit itself isn't a problem solver at all when it comes to scalability, the second layer applications that will be built on top of Bitcoin will play the most important role in that regard. Segwit is basically just a first step that needs to be set in order to move further. Blockchain is a new kind of database - block or records connected to another block. That's the simplest explanation. However, I want to ask the hard question.
What are the limitations of blockchain? I know this is a really good innovation and I highly support it, not because I join the bandwagon, but because bitcoin will not exist if not because of it.... But I want to have a better understanding of the blockchain (in layman's terms please) if I want to get really serious about cryptocurrency and ICOs. My second question is, what are the things experts do to improve blockchain?
In my opinion the limitations of the blockchain is transactions times and miner fees, a year or 2 agao bitcoin was not as popular as it is right now, as the price started to grow nad people started knowing about it it got popular and this affected the traffic control in the blockchain netowrk which was reflected on the trnasaction time nad miner fees which have reached high values, blockchain was not ready for a situation where a large amount of transactions can be sent and confirmed at the same time, and probably that is its biggest flaw. What are the limitations of blockchain? I know this is a really good innovation and I highly support it, not because I join the bandwagon, but because bitcoin will not exist if not because of it.... But I want to have a better understanding of the blockchain (in layman's terms please) if I want to get really serious about cryptocurrency and ICOs. My second question is, what are the things experts do to improve blockchain?
There was a time when the Bitcoin blockchain and the Ethereum blockchain were filled with numerous transactions which lead to overflow of transactions in the memory pool. This became a problem as confirmation time was increased due to delay in confirmations and transaction fees were getting high due to this reason. Although now the memory pool is less occupied, it still is a bane as the same situation can occur again in the future. This is the only problem which needs to be rectifies in the blockchain. Other scalability issues are almost fixed with the implementation of Segwit.
The data is written to the block chain, waiting at least 10 minutes, all nodes synchronize data, and more time is needed! Block chain transaction data is delayed.
The generation of blocks requires the miners to carry out numerous meaningless calculations, which are very energy-intensive.
The generation of blocks requires the miners to carry out numerous meaningless calculations, which are very energy-intensive.
Yes network chatter becomes a killer when you scale upwards and you need to have order which DAG addresses using
direction (Not that I fully understand DAG) and I have used sub-domains based on the public keys but in the end you have
to accept that you need something resembling a data center or the chatter and delays becomes unacceptable.
Block-Chain with most of its code being concerned with mining is not the answer and just works left to right (2D)
and it needs to work downwards too (3D) with what I call block-ledgers at the very least to record the transactions
but maybe one of the other alt-coins has a better solution but some of them are very difficult to understand.
It’s an oversimplified explanation. The blockchain forms a Merkle chain of unalterable history, whereby correct knowledge of the present can be used to verify correct knowledge of the past. Adding a Hashcash-style POW function for transaction ordering, it becomes a Byzantine fault-tolerant distributed database with no central authority or trusted “supernodes”. That’s the simplest explanation I can provide in two sentences.
All very fine but it won't scale as implemented by Bitcoin and hashing of hashes, well the credit has to go back to Bit-Torrent
for that one and I am yet to see anyone using a block-ledger (My invention) but i am sure someone will cotton on or were using
it long before I thought it up.
The solution to making the block-chain scale has been going off-block and we certainly have "supernodes" on that
as can be seen here https://lnmainnet.gaben.win/
Jump to: