As per the Blockchain Development Services Company
, blockchain technology is one of the inventive technologies of this decade and surprising fact about it is that we haven’t still unexplored the full potential of it. Many tech experts have started using blockchain as ‘Digital Gold’, also the recent statistics support that statement. Blockchain technology itself consists of various other subsets such as cryptocurrencies.
With the expanding usage, some issues about the performance of blockchain technologies are surfacing. Below are some of the major issues in blockchain performance,
1. Human Error
One of the first and common issues in blockchain performance is human error. For example, the blockchain database consists of all the needed information so the database needs to be more accurate and high quality, but here all the storage process of data relies on human, which increases the chances of human error.
2. Transaction Fees
transaction fees and network speed are factors consider in blockchain issues. As par Blockchain Development Services Company, in 2016, it could only process about six to seven transaction each second and all those transactions cost approximately $0.20.
3. Complexity Level
The blockchain is an emerging technology and it has not still not main made it to the mainstream industry verticals completely. Most people think that it is one of the main reason why many parts of blockchain technology are still unexplored.
4. Network Size
Blockchain technology act like a distributed system, they are not that resistant as they are anti-fragile in nature. Which means they that grow stronger with every attack on the system. For that blockchain require a huge network of end-users.
5. Security Flaws
In this world full of new technology, nothing can be fully perfect and that’s the case with blockchain. A flaw in blockchain cryptocurrency bitcoin is that if there are more than half of the computer acting as nodes in the decided system are supporting a false statement then it will become dominant and will be considered a true statement in the system. To solve all the issue you need to Hire Blockchain Developer India.
Get the best Hire Blockchain Developer India
at Minddeft. They have a special experienced team of blockchain professionals. To know more about the blockchain solutions provided by us. Visit our Website Minddeft.com