Modern blockchain actual problems.
Blockchain is a revolutionary technology. It has the potential to make significant changes in many sectors of the economy. However, before using this technology, it is worth evaluating its current problems.
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🔼The first problem blockchain technology may face is scalability. The problem is based on the inability of the system to cope with a large flow of transactions in a minimum time period, which causes discontent among the mass of customers. The decrease in system throughput is associated with the presence of a programmed set value that defines the “block size limit”.
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🔼The second problem is called “Attack of the majority” or 51%. The attack of the majority consists in the fact that an attacker gains more mining power than all other network members combined. Instead of mining new blocks with all participants, they will mine their own branching blockchain. In the end, according to the rules of bitcoin, a more complex branch wins and each node goes to the branch of attackers. All previously confirmed transactions that are not in the secret branch will be canceled, and attackers sent using them can be used by the attackers for their own purposes.
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🔼The third problem that should be considered is possible errors in smart contracts, which can affect the operation of the entire network. Smartcontracts contain information about the obligations of the parties and fines for their violation, while guaranteeing the fulfillment of all conditions of the contract.
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🔹In order to solve existing problems, we propose several changes in the architecture of the blockchain, affecting communication protocols, network infrastructure, inter-network agreements, consensus algorithms, and so on.
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🌐 𝗥𝗲𝗹𝗶𝗰𝘁𝘂𝗺 𝗣𝗿𝗼 platform does not depend on the communication method, it is just a node, and how the message is delivered does not matter. At the moment, _HyperNet’s own communications technology is being used; it works over or on top of the Internet.
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Relictum blockchain platform uses a unique protocol based on the TCP/IP protocol, in which a virtual communication channel with each node is formed over the Internet. The advantages of this network are its reliable stability and isolation from the general segment of the Internet. In this virtual channel, only Relictum Pro information is transmitted, which increases the data transfer speed several times.
🏮 Website: https://relictum.pro
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