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Why is Blockchain difficult to understand?

Blockchain operates Bitcoin and it was first introduced in 2008 by an anonymous group of people known by the name ‘Satoshi Nakamoto”As Blockchain is decentralized no one person owns the blockchain network and it can never be manipulated or hacked because of the basic structure of a Blockchain. This is what makes Blockchain complicated an difficult to understand. Let us know some things about the complexity of Blockchian Technology.

Why is Blockchain difficult to understand? 
A car needs an engine to work similarly Bitcoin requires Blockchain technology. Blockchain operates Bitcoin and it was first introduced in 2008 by an anonymous group of people known by the name ‘Satoshi Nakamoto”. Behind Bitcoin there is this concept of Blockchain, this concept is implemented to run the crypto currency Bitcoin. 
Blockchain is a public distributed database holding encrypted ledgers. This means a block is the current part of Blockchain which records the recent transactions. Once it is verified it becomes a permanent part of the growing Blockchain. 
As Blockchain is decentralized no one person owns the blockchain network and it can never be manipulated or hacked because of the basic structure of a Blockchain. 
Blockchain will be the future of the payment solutions with direct, fast and secure payment methods without transaction cost, the key benefits of blockchain for logistics network is that it establishes a shared, secure record of information across the network. 
But why Blockchain is difficult to understand, let us know. 
• Blockchain is a consistent system where development is stricter and slower, creating a provably consistent system is not an easy task. A small bug could corrupt the entire database or cause some databases to be different than other ones. There is no breaking things and moving on in a blockchain. If you break things, you lose consistency and the blockchain becomes corrupted and worthless. Moving on would be easy enough to do in a centralized system, but this is very difficult in a decentralized one. 
• Incentive structures are difficult to design, In Blockchain adding the right incentive structures and making sure that all actors in the system cannot abuse or corrupt the database is likewise a large consideration. A blockchain may be consistent, but that’s not very useful if it’s got a lot of frivolous, useless data in it because the costs of putting data into it are very low. In a decentralized system you simply cannot change anything without consensus. There’s no fixing anything unless there’s agreement from everyone. 
• A traditional centralized database only needs to be written once. A blockchain needs to be written to thousands of times. A traditional centralized database needs to only checks the data once. A blockchain needs to check the data thousands of times. A traditional centralized database needs to transmit the data for storage only once. A blockchain needs to transmit the data thousands of times. The costs of maintaining a blockchain are orders of magnitude higher and the cost needs to be justified by utility. 
• In a blockchain users are sovereign as companies don’t like the liability of having user data in the first place. This can be bad, however, if the user is “misbehaving”. There’s no way to kick out the user that’s spamming your blockchain with frivolous data or has figured out a way to profit in some fashion that causes other users lots of inconvenience. 
• Bitcoin is not owned by anyone so all upgrades are voluntary and a forced upgrade is not an option. 
Decentralized systems are very difficult to work with, expensive to maintain, hard to upgrade and a pain to scale. A centralized database is much faster, less expensive, easier to maintain and easier to upgrade than a blockchain. The only reason we are using blockchain is to remove single point of failure or control. 
Blockchain
Bitcoin
Blockchain Complexity
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Cryptocurrency
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Sandeep Semwal
Content Writer
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