Blockchain is an enormous potential technology with tremendous utilization in the tech industry. Decentralized exchanges, prediction markets, asset management platform, digital identity are the few of the applications of the blockchain technology . Blockchain has several major technical barriers that make it impractical for mainstream use at scale. Among them some of the major barriers are: Limited Scalability Blockchains are fundamentally “decentralized” which depicts that no central party is responsible for securing and maintaining the system instead every single node on the network can secure the system by processing transaction. Limited Privacy Blockchain transactions are not tied directly to your identity as anyone can create a new wallet anonymously and can transact through that wallet. Identity verification data like security numbers that cannot be openly stored in public smart contracts. Credential management is another factor which is not managed in an open, u...
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