- It doesn’t matter how trivial or small the transaction is; they are all recorded in a centralized cloud-based data center.
- With devices becoming less expensive, computing power is becoming greater every day.
- But the key element with Blockchain is that while records can be added to the ledger, no existing transactions can be changed or removed.
- Imagine what happens when you scale that up to 50 billion devices, each doing their transactions daily — an unmanageable amount of chatter is produced, something the network was not designed to withstand.
- Blockchain removes the need for trust in any third party, as every device involved in the public ledger must work to reach a consensus.
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@Presstacular: “Blockchain: the Future Front Lines of Cyber Security? via @HuffPostTech #cybersecurity”
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