Alexey
May 29, 2021, 12:02pm
2
The blockchain is a bad idea to store data:
Storing data on blockchain is too expensive and inefficient as for upload and for the access. The only small chunks of data can be stored on blockchain and also in most cases they are immutable, i.e. you can’t delete or edit it. To make change you must generate the next block with that change. It’s not fast.
And also the size of the blockchain will include all world data, at the moment it’s greater than 460 Exabytes. And you would need to store it on the each node in the network, because blockc…
It also doesn’t solve the scale problem:
Currently, none of the blockchains really solve the issue of high transaction costs. While there is a small user base, transaction fees on any blockchain may be low, but once they become more popul...
The blockchain is useful only to store something what must have a transactions by design and small enough like a financial transaction.
3 Likes