Post
Topic
Board Beginners & Help
Re: Questions About Blockchain
by
kryptqnick
on 30/10/2018, 19:46:58 UTC
1. Future of Blockchain technology ?
Blockchain technology is getting more and more recongnized and adopted, so its impact on our life will probably be like the one of creating a PC and inventing WWW.
2. Misconception about the technology?
Some say it's a ponzi scheme, which is totally ungrounded and ridiculous. Others say that the technology is not cheap enough (btc transactions sure are cheap now) and that it's very slow (indeed, it's not very suitable for huge amounts of simultaneous transactions, even though some options are being developed.
3. Today's blockchain and its future ?
Today blockchain is mainly used to create cryptocurrencies for trading, retail, monetization of projects. New features (like smart contracts that weren't always around) are improving the absense of need to trust anyone.
4. The possibilities of this technology ?
Potentially, it's a universal database to store any type of data (not only financial transactions) where it's important to have chronological order, impossibility to change previously inserted elements and impossibility to fake data. There are projects exploring its potential for copyright, genuine tickets, games etc.