Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. A blockchain database stores data in blocks that are linked together in a chain.
Blockchain is known to revolutionize the world around us. After all, it changes how we define the process, store data, and explore the security of a network that the application runs on. It brings immutability, transparency, and unparalleled security that no other technology has been able to do so until now.
But there is one big problem — blockchain block size. To understand the problem, let’s first learn how the blockchain works.
In any blockchain network, there is no centralized authority. Peers participate in bringing decentralization to the network. Each peer has a copy of the ledger (where all transactions are stored). This means that if any new transaction takes place, the ledger on each node will be updated accordingly. The unique solution lets businesses create decentralized networks capable of solving problems not possible before.
Write A Public Review