Five advantages of blockchain - DotWallet

Five advantages of blockchain


From novelty to cliche, the blockchain that originated with bitcoin is no stranger to us. Blockchain technology is considered to be the next generation of core technology after steam engine, electricity and Internet. Blockchain, as a machine for building trust, will potentially revolutionize the way value is transmitted throughout human society.


What are the advantages of blockchain technology?


  1. Decentralized distributed structure:


In reality, the distributed structure of blockchain can greatly save the intermediary cost. Because blockchain technology can be a tool for large-scale collaboration between people without the need for mutual trust, it can be used in many traditional centralized fields to process transactions that were originally handled by intermediaries.


  1. Untamable time stamp:


Can solve the problem of data tracking and information anti - counterfeiting. In today's society, a large number of fake information and data filled our lives. Blockchain technology has opened a door for our data tracking and information security field.


  1. Safe trust mechanism:


It can solve the core defects of today's Internet of things technology. The traditional Internet of things model, in which all information is collected from a centralized data center, has led to serious defects in aspects such as device life cycle. Blockchain technology can create a trust consensus of the whole network without trusting a single node, so as to solve some core defects of the Internet of things well and make things not only connected but also spontaneously active.


  1. Flexible programmable features:


Can help standardize the existing market order. In today's society, due to the market order is not standardized, in the transfer of their own assets, it is impossible to ensure that they can play their due value in the future. If the programmable feature of blockchain technology is introduced, a program can be edited and written into the asset at the same time of asset transfer, which can specify the future use and direction of the asset.