Current Challenges and Potential Solutions By Cointelegraph

© Reuters. Blockchain Scalability: Current Challenges and Potential Solutions

Blockchains and the related field of decentralized technologies represent a massive opportunity for humanity — not to mention the fact they appeared with almost perfect timing. Our largest institutions have become so powerful that they can take advantage of normal people without repercussions. Look no further than Facebook (NASDAQ:) spying on its users and the surveillance state run by the Communist Party of China.

Fortunately, blockchain technology, cryptography and other distributed systems act as a counterbalance to this extreme consolidation of power. They are defensive technologies that empower the many against the few. Like BitTorrent disrupting the music industry, cryptocurrencies and decentralized applications are nearly impossible to shut down.

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