Will block-chain based transactions explode the internet?

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06-24-2018, 01:08 PM
Helena

Will block-chain based transactions explode the internet?

A recent observation report by BIS(Bank of International Settlement) has stated that the crypto currency and block-chain based transactions
will drown down the capacity of the internet when it is used on a large scale!

It is told that the crypto mining hosts more computing power and electricity while the crypto technology is relatively poor.There is also a threat of the crypto currency stopping its function and loosing its value.
These factors together predicts that the crypto currency will erupt the internet and the block-chain transactions will become harder to be protected as well!
Let's wait and see ,it may be a similar downfall in the value of bitcoin same as in 2008 or not.

What do you think will block-chain technology downfall in the nearer future? Share your thoughts
06-24-2018, 03:07 PM
Neo

Quote:

Originally Posted by Sheero

A recent observation report by BIS(Bank of International Settlement) has stated that the crypto currency and block-chain based transactions
will drown down the capacity of the internet when it is used on a large scale!

It is told that the crypto mining hosts more computing power and electricity while the crypto technology is relatively poor.There is also a threat of the crypto currency stopping its function and loosing its value.
These factors together predicts that the crypto currency will erupt the internet and the block-chain transactions will become harder to be protected as well!
Let's wait and see ,it may be a similar downfall in the value of bitcoin same as in 2008 or not.

What do you think will block-chain technology downfall in the nearer future? Share your thoughts

in my viewpoint, It will not. blockchain technology has number of advantages which will change many industries.Since it is in the early stage, there are some bottlenecks. crypto currency is just one part of it. global acceptance to crypto currency will take some time. It is also important to understand that alternatives for computing, electricity, & internet technologies are continuously improving and evolving. blockchain is considered as one of the most secured method of transaction. Only quantum computing can break blockchain cryptography. again quantum computing is in the early stage. blockchain development will adopt to quantum cryptography technology.

Many industry will start adopting blockchain technology in the near future.
06-26-2018, 10:50 PM
Helena

Quote:

Originally Posted by Neo

in my viewpoint, It will not. blockchain technology has number of advantages which will change many industries.Since it is in the early stage, there are some bottlenecks. crypto currency is just one part of it. global acceptance to crypto currency will take some time. It is also important to understand that alternatives for computing, electricity, & internet technologies are continuously improving and evolving. blockchain is considered as one of the most secured method of transaction. Only quantum computing can break blockchain cryptography. again quantum computing is in the early stage. blockchain development will adopt to quantum cryptography technology.

Many industry will start adopting blockchain technology in the near future.

Thank you for sharing your view Neo. Unless a strong alternative for computing, electricity, & internet technologies is adopted the crypto transaction will continue to be a threat to them.