Topic: Should We Trust Blockchain ? - page 3. (Read 20097 times)
It seems to me that the question actually puts at risk all the industry in which today a huge amount of money is running in. Therefore, it seems to me that today it makes sense to say that the technology as a whole is working properly.
Blockchain can not be cracked, at least for now, but still I think the time will come and get to it!
I fully believe in blockchian technology, clearly the security and anonymity of blockchian technology is very wonderful. I was only anxious to put my money on the exchanges, and hackers could easily break into the trading floor and steal money.
The entire point of blockchain and decentralization is to develop a trust. If you are here to exploit the system the system will weed you out. That's the entire point of smart-money.
Yes Blockchain is trusted unless there is some single party who owns most of network.
What you said about exchanges don't make sense, exchanges just manage Blockchain assets.
What you said about exchanges don't make sense, exchanges just manage Blockchain assets.
Blockchains themselves aren't easy to hack, but they are vulnerable to what is known as a "double spend" or 51% attack which is quite hard to achieve if the hash power that secures them is distributed equally amongst a majority of miners, but what you appear to be referring to is an issue to do with exchange security which is another thing altogether and unfortunately only a small percentage of top exchanges have been awarded a B or higher rating in this area so make sure you take all the necessary precautions when using them
Yes of course we can trust blockchain. And to clear up, the blockchain was not really involve for the recent accident on cryptopia exchange. We can blame the cryptopia himself for the incident, because of their security that may be vulnerable to some serious hacker attacks. Blockchain cannot be doctored.
First of all cryptopia is a centralized exchange not decentralized so I don't know why are you bringing here this example of "blockchain technology problems"?
Yes blockchain can't be hacked and data there can't be modified.
Your concern is the security of the exchange and its not the technology itself.
They use a certain way to secure their exchange.
Blockchain is the technology that we use for transfers, if the hacker goes on their site and successful got in.
They can easily use the funds and transfer it, the problem lies to the backdoor not with blockchain.
yes, if the technology (blockchain) is not guilty of what happened in the case of theft. if that happens on an exchanger, then the exchanger must be questioned about its security, not the blockchain. Your concern is the security of the exchange and its not the technology itself.
They use a certain way to secure their exchange.
Blockchain is the technology that we use for transfers, if the hacker goes on their site and successful got in.
They can easily use the funds and transfer it, the problem lies to the backdoor not with blockchain.
Yes of course we can trust blockchain. And to clear up, the blockchain was not really involve for the recent accident on cryptopia exchange. We can blame the cryptopia himself for the incident, because of their security that may be vulnerable to some serious hacker attacks. Blockchain cannot be doctored.
A blockchain is a continuously growing, append-only, list of records called blocks or transaction secured by the cryptography which not hack-able. The exchange gets hacked due to security breaches in the codes. Exchange which uses hot wallets are prone to get hacked usually as compare to exchange which store cryptocurrencies in cold wallet.
As long as it's not getting 51% and the blockchain will fine and remember 51% is the only possible thing to create an attack to the blokchain itself.Hot wallet doesn't have a lot of protection. It much better if the blockchain try to create such a decentralized wallet.
A blockchain is a continuously growing, append-only, list of records called blocks or transaction secured by the cryptography which not hack-able. The exchange gets hacked due to security breaches in the codes. Exchange which uses hot wallets are prone to get hacked usually as compare to exchange which store cryptocurrencies in cold wallet.
As far as I understand the work process of the blockchain technology today, I can say that there is no point in not trusting this technology, because today there is every reason to believe that this technology is unique.
It is like saying, you have a pure gold, kept in a compartment that can either be broken or not. The pure gold is the block chain, whose form cannot be changed, because it is already pure.
If the compartment where it is kept is in form of a glass, plastic or wood, they you should know that it can be broken and the gold be taken away.
The same can be likened to block chain and a weak security system used in saving of keeping it by the owner.
So every party, exchanges, ICOs, individuals and the likes, making use of block chain in one form or the other, should try to keep their system safe by improving on the security.
If the compartment where it is kept is in form of a glass, plastic or wood, they you should know that it can be broken and the gold be taken away.
The same can be likened to block chain and a weak security system used in saving of keeping it by the owner.
So every party, exchanges, ICOs, individuals and the likes, making use of block chain in one form or the other, should try to keep their system safe by improving on the security.
Blockchain technology is knowledge on the internet and issued a product called cryptocurrency, and what they retire is crypto products become blockchain. We study the block system and can provide security information so that it will not be hacked as long as we remain cautious and alert.
The blockchain technology itself is very reliable and cannot be cracked. Another thing is that not enough attention is paid to the security system on the stock exchanges. However, these are completely different things. The blockchain technology so far proves its competitiveness and exclusivity. Its novelty and revolutionary approach was recognized by all states, even those that oppose the introduction of decentralized cryptocurrency.
According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...
Yea, thats right, for now blockchain can't be hacked. But exchanges it's only a platform, which keep private keys of their blockchain addresses. And many of them do not pay serious attention for security of their platforms. 
Hacking occurs because they have the opportunity and they are lazy and make a lot of people nervous. But we also have to be careful in doing anything and do not act that makes you suffer losses. I believe in crypto I think this is very important because here there are many opportunities that can make money.
Why won't we? Blockchain technology is a good technology that also able to be implemented for another thing. Not just cryptocurrency, the possibilities of the usage of blockchain technology is wide open. So there is no reason not to believe in the blockchain technology.
Nothing is perfect, but you are confusing the two concepts, exchange and blockchain, which are two different concepts. Exchange with poor security systems will be hacked.
According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...
Blockchain technology is a system use for data recording , if anyone altering the data , it will be recorded also by itself so it's been useless for hacking while the other you mention like exchange firm is really the subject by hackers and yes it will be easier to them if you would not taking care of your private key and password .
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