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Blockchain has gained popularity due to the numerous benefits it provides. However, it also has a few drawbacks. The following describes the potential drawbacks except Vast amount of computing power consumption, as a result, diminishing network capacity and would not be able to sustain large-scale usage. The cost associated with third-party vendors can be reduced thereby lowering the interaction between parties when validating a transaction. The blockchain size can grow very large over time resulting in storage in hard drives and networks risks instability. The regulations seem to be determined for legitimate activities while the blockchain is still a relatively new concept to be adopted by multiple industries in particular cryptocurrency.

Blockchain has gained popularity due to the numerous benefits it provides. However, it also has a few drawbacks. The following describes the potential drawbacks except Vast amount of computing power consumption, as a result, diminishing network capacity and would not be able to sustain large-scale usage. The cost associated with third-party vendors can be reduced thereby lowering the interaction between parties when validating a transaction. The blockchain size can grow very large over time resulting in storage in hard drives and networks risks instability. The regulations seem to be determined for legitimate activities while the blockchain is still a relatively new concept to be adopted by multiple industries in particular cryptocurrency.

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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Blockchain has gained popularity due to the numerous benefits it provides. However, it also has a few drawbacks. The following describes the potential drawbacks except Vast amount of computing power consumption, as a result, diminishing network capacity and would not be able to sustain large-scale usage. The cost associated with third-party vendors can be reduced thereby lowering the interaction between parties when validating a transaction. The blockchain size can grow very large over time resulting in storage in hard drives and networks risks instability. The regulations seem to be determined for legitimate activities while the blockchain is still a relatively new concept to be adopted by multiple industries in particular cryptocurrency.
Transcribed Image Text:Blockchain has gained popularity due to the numerous benefits it provides. However, it also has a few drawbacks. The following describes the potential drawbacks except Vast amount of computing power consumption, as a result, diminishing network capacity and would not be able to sustain large-scale usage. The cost associated with third-party vendors can be reduced thereby lowering the interaction between parties when validating a transaction. The blockchain size can grow very large over time resulting in storage in hard drives and networks risks instability. The regulations seem to be determined for legitimate activities while the blockchain is still a relatively new concept to be adopted by multiple industries in particular cryptocurrency.
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