Major Technical Challenges Hindering Global Adoption
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Major Technical Challenges Hindering Global #blockchain AdoptionHaving certain benefits, which have already been thoroughly discussed since its emergence, the blockchain technology has particular limitations. Some of them are cultural, some are political, and some are technical. In this article, we are going to focus on the technical challenges that blockchain is faced with on its way to global adoption by small business.1. Energy consumptionThe issue of energy consumption has always been a major stumbling block in the original proof-of-work-based blockchain of Bitcoin. The projected total energy consumption of the Bitcoin network for 2018 stands around 73 TWh, which puts Bitcoin in the 39th position in the world’s ranking of countries by energy consumption according to (...)
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