Need for blockchain solutions in real life

4 mo
LeoFinance
2 Min Read
498 words

There are so many real-world problems that can be solved with the help of blockchains. The first step toward blockchain adoption is digitalization and the next step would be to understand and accept decentralization. If both these things are acceptable among the consumers, then it should be a great experience to explore blockchain adoption. Many countries still oppose digitalization. They say people will suffer and do not want to digitalize everything. That's a separate topic altogether.

In order to increase blockchain adoption, people should first understand the significance of Blockchain and what this can bring to people. Especially this is a topic for developers who should explore and learn more about blockchain. This wonderful technology stores the data in a database in the form of a pattern. There are different types of blockchains with the difference in the way it operates but mostly the concept is all the same. The pattern in which the data is saved makes the blockchain concept superior among all the data storage concepts.

image.png

Source

Blockchain brings lots of innovation and data security. People can run blockchain nodes from several parts of the world for decentralized data. This brings extra security for the data from getting tampered with. For people who would like to store and view public data, this can be a wonderful solution. Even if people want to handle private data, this can still be a solution with encryption and decryption. This way restrictions can be made in such a way that only the accounts who have access to the data can view the data.

The incentives come in the form of cryptocurrencies. That is the place where real-life needs are very high. With the combination of blockchain technology and cryptocurrencies, many things can be achieved. The entire stock market can be brought inside the blockchain and the trading and market watching can become more efficient and tamper-proof. But some existing blockchains may not have the efficiency to process so many transactions in one shot. So that can be a bottleneck but for use cases that are synchronous and can be managed with a queue, blockchain can be a great solution.

image.png

Source

Developers should be able to explore new technologies and should bring a lot of innovation. I always think that this technology should reach more developers and big-brain individuals. Imagine if someone can build a super profit game splinterlands out of a blockchain, what would be the potential of a lot more others who can do wonders with this technology.


If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness

Vote @kanibot as a Hive Engine Witness



Posted Using LeoFinance Beta


https://twitter.com/bala41288/status/1551650570771263488
The rewards earned on this comment will go directly to the people( @bala41288 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

0

Congratulations @bala41288! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You have been a buzzy bee and published a post every day of the week.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

0

A good post ! One thing I am seeing is that blockchain can be adopted without decentralisation, and it might be that we end up with two parallel adoption streams, one centralised and the other decentralised.

Because blockchains tend to be secure (in the sense of the data being immutable once it's created, not necessarily in terms of access or future data use), they are an ideal technology for things like contracts, international trade documents etc. Also, although it is anathema to most crypto users, CBDC's are likely to use centralised blockchains.

3

This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.

Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.

Read our latest announcement post to get more information.

image.png

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

3

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

Please contribute to the community by upvoting this comment and posts made by @indiaunited.

3

Two D's - digitalization and decentralization. And the key to mass adoption is understanding the blockchain. Thanks for that!

Even after almost a year here on Hive, blockchain remains a mystery to me. I hope that my reading of its basic characteristics and writing about it will help me solve that puzzle.

3

I agree with you. Decentralization is the solution to so many problems. !CTP

3

Yes, I've been following him and I saw him also buying constantly. I'm not that far off, from 10k to 100k, I'll get there in no time 😆🤣 YEah, I'm joking.

Well done @beststart ! Voted on ListNerds!

3