Business depends on data.
The speed of acquisition and the accuracy of the data play a decisive role.
For the first time, the term Blockchain appeared as the name of a fully replicated distributed database implemented in the Bitcoin system, which is why blockchain is often referred to as transactions in various cryptocurrencies, however, block chain technology can be extended to any interconnected information blocks. Now the financial sector is actively preparing for the widespread implementation of blockchain.
Blockchain is experiencing a number of specific problems, among them:
👉Constant growth of blockchain file size
👉Restrictions on the bandwidth of communication channels between network nodes and the complexity of synchronizing individual replicas associated with this limitation
👉The general limitation of blockchain performance associated with the specifics of the operation of consensus algorithms
When creating an enterprise blockchain application, it is important to prepare a comprehensive security strategy. It should be based on cybersecurity systems in order to reduce the risks associated with attacks and fraud.
