Blockchain

Story: Limitations in Blockchain Technology Addressing Most Problematic Issue First

By Dan Saada

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Blockchain Technology is an efficient data management technology that provides for data security, integrity, and anonymity in the transactions.

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The future directions for the application of the blockchain technology are derived from the current research for its application in the different market segments.

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There are several limitations from the point of security and privacy perspective, and most of such issues need to have concrete research to bring in practical solutions.

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The systematic mapping study process is being used to identify the scientific databases that will eventually help identify the possible research areas and the relevant questions…

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Several challenges are already identified.  In the financial applicationof the blockchain technology for cryptocurrency transactions, the numbers ofusers are already increasing,…

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There is a need to increase the through put of the Bitcoin Network by increasing the transactions per second, to facilitate the increase in numbers of operations that will take…

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In the current scenario, in atypical Bitcoin transaction, it takes 10 minutes to complete onetransaction.

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With one block being created every 10 minutes, there is a limitation as to the numbers of transactions that can take place each minute.

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When the block chains are split for administration, a new set of issues arise. This is because smaller nodes are easy to attack.

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