The Importance Of Blockchain Technology
What are the main problems that arise in the existing Blockchain technology system
Blockchain technology is one of the places for us to transact using digital coins and in every technology there will usually be some problems to keep in mind and that is a fact that we cannot change but from year to year maybe in the future it will be perfect.
There are several main problems that exist in existing Blockchain technology, namely:
Security
Blockchain technology always has security, but every existing Blockchain technology can be hacked by expert hackers, to avoid that we must be careful and alert if we see suspicious things in our Blockchain.
Scalability
Scalability is one of the things that often happens where there are lots of transactions that occur but are not as desired, that is, they can be processed quickly because with so many users using the network, the operating system will be slow so that transaction costs are higher and that often happens.
Law
In a country there are also several Blockchain technologies that are prohibited for use, but as modern civilization progresses, all of this can be resolved properly.
Explain to us some of the main features of Blockchain Technology
Blockchain technology has features that might provide comfort when we use Blockchain Technology, including:
Decentralization
Blockchain technology is centralized i.e. there is no third person controlling it because this network is done right and transactions are authorized and verified then it will be safe, it is a system of things that is very extraordinary.
Transparent
Another feature of Blockchain Technology is that it is transparent and in my opinion every transaction made on Blockchain will be recorded and stored but there is no secret and can be seen by anyone about the transactions that we have made. In that case it can also be modified or deleted by other people.
Provide a basic and simple understanding of how Blockchain Technology works
Blockchain technology applies and works by creating a container that can accommodate all assets on a large scale and transactions that are carried out will always be safe by verifying and valid, of course, so that our transactions can be recorded in Blockchain Technology permanently.
Transactions that are considered complete with all the rules, as I have explained about it, we all know if all records about the transaction cannot be changed or faked regarding the history of existing transactions.
Provide an understanding of how we can use Zero Knowledge proof for authentication
Zero Knowledge proof is one of those things that is used to make it possible that someone can prove to have certain information such as knowing a password without revealing the password itself.
Zero Knowledge proof authentication has its own benefits, namely being able to prove a person's identity without revealing important things about that person such as a password...
Advantages and Disadvantages of Blockchain Technology
Advantages of Blockchain
Technology
security
Transparent
Decentralization
Disadvantages of Blockchain Technology
Scalability
State legal policies regarding the use of Blockchain Technology