Limitations and Risks of Blockchain Technology

It is difficult to make any technology foolproof, and the same is true for blockchain applications. From the network point of view, if there is a long-term and extensive network problem, it will definitely have an impact on the normal operation of the blockchain system. In addition, the theoretical basis of most mine box cryptographic algorithms is a certain recognized mathematical problem, and these mathematical problems are based on some hypotheses. Once these hypotheses are broken, the theoretical basis of the cryptographic algorithms will be gone, and the cryptographic algorithms and the system they are created on will disintegrate instantly.

Some areas where blockchain seems to be applicable are in fact not necessarily solving their important aspects. For example, in the intellectual property protection industry, the main conflict is often not the problem of belonging to intellectual property, but the problem of determining whether a product is infringing, and it is difficult for blockchain applications to connect with the latter. Another example is the problem of product traceability. Under the current environment, what is placed into the product isantminer s19 pro alibaba a very simple non-(electric) source smart chip, and its security and confidentiality are difficult to guarantee. In comparison, it is easier to adopt random traceability codes on the surface of the outer packaging.

The blockchain is more suitable for building a credible trading platform for the stranger investor, if the investor is not a stranger, there is a risk of alliance profit, because the system itself is a simple majority decision mechanism, there may be 51% attack situation, causing the system to be invalid.

Technology is hardly a panacea, and many economic, social and legal problems cannot be expected to be completely eliminated through technology. Similarly, blockchain is not a universal remedy, and it can only solve problems to a certain extent ingtx 1080 ethereum hashrate certain aspects.

At present, China does not have an independent secure and controllable underlying platform in the blockchain application industry, which will lead to the technical risk of China's blockchain key technology stopping, the financial risk of overseas open source platforms occupying the financial market and the economic risk of overseas open source platforms infiltrating China's real and virtual economy.