DISADVANTAGE OF BLOCKCHAIN

Ruchika
Disadvantage of Blockchain
• Human Error - :Human errors usually arise because of the way we
process information based on preexisting notions and assumptions.
• Slow Transaction Time – :When there’s a dramatic spike in transaction activity,
the mempool can become congested because so many transactions are waiting to
be included in the next block.
• High Cost of access – :Certain factors affect the overall blockchain development cost,
including the app’s niche, its UI/UX design, launching of the ICO, etc.Blockchain is
costlier compared to a traditional database. Additionally, businesses need proper
planning and execution to integrate blockchain into their process

• Irreversible transaction – :When someone sends Bitcoin or another

digitashotion Or another digital assets that cannot be reversed. It can only
be refunded by the person receiving the funds.

• Highe Energy Consumption – :Bitcoin alone is estimated to consume 127 terawatt-

hours (TWh) a year —because they’re racing against each other to be the first one
to solve the equation that earns them a bitcoin.

Ruchika
 Why we use blockchain?
Blockchain helps in the verification and traceability of
multistep transactions needing verification and
traceability. It can provide secure transactions, reduce
compliance costs, and speed up data transfer processing.
Blockchain technology can help contract management and
audit the origin of a product. It also can be used in voting
platforms and managing titles and deeds.
Tuhina
 Blockchain technology in education

Benefits of Blockchain in education

• Self-acquiring learning data by the learners

• Enhancement of security and efficiency for educational institutions and learners
• Integration of trust and transparency between job seekers and employers
• Increased efficiency in existing business processes
•Generates a new market for digital assets
• Establish your additional credentials
•Blockchain File storage
•Executing Lessons and courses
•Publishing in the research area Tuhina
 Blockchain technology in business

Here’s a list of key benefits you can expect to achieve when adopting Blockchain
technology into your business:

• It is an immutable public digital ledger, which means when a transaction is recorded,

it cannot be modified
• Due to the encryption feature, Blockchain is always secure
• The transactions are done instantly and transparently, as the ledger is updated
automatically
• As it is a decentralized system, no intermediary fee is required
The authenticity of a transaction is verified and confirmed by participants
Tuhina
-TANYA