The Scalability of Blockchain: The Advantage and Disadvantage

Blockchain technology scalability is limitless which is hard to put down. One should shut down the internet to stop the scalability of crypto coin. But at this time and age, the internet is not going to die. Cryptocurrency will continue to scale. It hit the right pavement at the right time. And now, it’s just going to get bigger and will turn a regular pavement to an astonishing highway.

Advantage: Counterbalancing the Consolidation of Power

Cryptocurrency is not about benefiting the chosen few. It acts to counterbalance the extreme consolidation of power that runs in society. New technologies resist control among powerful people. It paves the way for ordinary people to partake in the benefits of cryptocurrency. As long as you dare to buy, and bet to the unknown when the market is right, you got a lot of chance to win.

Disadvantage: Resource-Intensive Security

The security of cryptocurrency is quite tough, but it is resource-intensive at the same time. Bitcoin specifically uses proof of work or what is usually called POW. A lot of companies modeled their security system on POW. It’s working by the participation of users to secure proof of work. Since these POWs are controlled by thousands of users or even millions of users, corruption is almost impossible. The only problem is that the work is too much for the price which affects the progress and the speed of its growth. Bitcoin has many alternatives at their disposal with promo codes. This is the beauty of the digital system, it can be changed and molded unlimitedly.

How to Possibly Improve Protocols

There are too many opportunities for blockchain. Today, it is using web crypto, but tomorrow, it could also use social media. It could also utilize voting systems aside from POW. It takes more than just web crypto to decentralize the overly used financial system we have today. There are still some limitations on how the coins can be used, so partnering with online shops voucher codes would do users a great favor. So far, our current cryptocurrency is doing fantastically in terms of transparency; however, security is still a lot of work.

Theo Lucas

This blog is ARCHIVED.

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