The Future of Blockchain Technology: Top Predictions

Cryptocurrencies like Bitcoin and Ethereum are some of the most talked about topics in the world today. They both have positive and negative sides, which make it hard to predict the future. However, experts in cryptocurrencies have developed a list of predictions that are likely to be true about the blockchains through which the digital currencies are operated. The blockchain is a technology that allows safe transactions of cryptocurrencies over the internet. Blockchains are operated on networks of independent computers around the world. Advanced technology ensures the accuracy and security of the blockchain. The Need for Credible Backup. As people transact, disputes can come up. In this case, the blockchains serve as a ledger that records transactions. Blockchains need a credible backup for all the necessary data. Most blockchains do not have enough space due to the lack of block space. Bitcoin, for instance, operates on a 1 MB block space, which is too little to store all essential data. Although some other blockchains are known to have ten times that space, it is still not enough for a backup. The backup should not be vulnerable to malicious hackers or fraud.