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Blockchain technology was introduced in 2008 along with the digital currency, the bitcoin.
The blockchain technology that was envisioned to disrupt the current business enterprises at a staggering rate has been witnessing some resistance from the business owners. Proof of work is overkill the work. So, what is the concern? Blockchain technology is going to change the world around us. Almost every financial institution will go bankrupt or be forced to change fundamentally. Till now, everyone might have heard about the blockchain technology which is currently the most popular technology around the globe. Blockchain is the underlying technology that powers cryptocurrency, representing a novel solution to secure data in a transparent and secure manner through its decentralized structure. Blockchain technology was first introduced in 2008 and was implemented from 2009. Every technology has it's limitations and they evolve eventually or risk becoming obsolete. What are the disadvantages of blockchain technology? The bitcoin blockchain has scalability problems, latency issues and many more. One major weakness that users and technologists have identified in blockchain technology is its low throughput.5 the distributed ledger system can only move. The next major impact is in the concept of trust, especially within the sphere of international transactions.
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