What are the disadvantages of blockchain technology?

Cost Reduction: As blockchain needs no third man it reduces the cost for the businesses and gives trust to the other partner. Here are some disadvantages of Blockchain: Scalability: It is one of the biggest drawbacks of blockchain technology as it cannot be scaled due to the fixed size of the block for storing information.

What are the benefits of blockchain technology?

There are many benefits of blockchain technology. Let’s see what some of them are: First of all, with blockchain, you get a distributed system. It means that it gets rid of any middlemen from your system. But how is that an advantage?

What are the advantages of blockchain over non-blockchain database?

Blockchain is famous for its critical role in cryptocurrency systems like Bitcoin. It maintains a decentralized and secure record of crypto transactions. Therefore, blockchain can guarantee the fidelity and security of data records and generate the need for a third party. Advantages Of Blockchain Over Non-Blockchain Database • Immutability.