What Are The Benefits Of Blockchain In Our Today’s Life?

[Hanhobi]

The advent of blockchain technology brought many benefits in many different industries, providing greater security in trustless systems. However, its decentralized nature also brings some downsides.

Advantages of blockchain: better security, efficiency, traceability, greater transparency.
Disadvantages of blockchain: 51% Attacks, Data modification, Storage.

Let’s dig deeper into this article to find out: https://pantograph.io/benefits-of-blockchain/

What are the other advantages or disadvantages that I did not mention here? Feel free to give any comments.

[bigcash2011]

Blockchain technology can easily revolutionize the everyday life and business through efficiency, transparency, automation and getting rid of middle man offcourse.

[Falcon]

Technology plus Blockchain equivalent to heavey duty virtual/digital transactions. Speed boaster and absolute efficiency to cater the world and bring it on into another dimensions of historical dynamic change of fiat transactions into intangible method.

[masudginanjar]

Blockchain is very transparent and can be seen by everyone, aka going public or it can be said that the honesty of transaction technology is on the blockchain.
All transaction data can be seen by everyone except anonymous ones like Monero, Loki or SUMO. So all of this is full of honesty if blockchain is applied in everyday life.

[Mexite]

Another advantage of blockchain is tokenization which has created a big decentralized/alternative economy and wealth for many people around the world. However, the scalability and interoperability issues need to be addressed fast.

[Sammy9ce]

Blockchain is the agreement on the shared data is known as the blockchain. The blockchain makes it easier for computers to verify the growing amount of data held within the network. New data entries refer to previous data entries to create the link in the chain... It just make transaction of crypto easy and reliable.

[semidotinfotech]

With the help of blockchain technology, you can easily track and manage digital identities without worrying about leakage of information. Apart from securing the data, this also cuts down the cost.

[Dreamer]

What are the other advantages or disadvantages that I did not mention here? Feel free to give any comments.

I will mention 1 advantage that I like in Blockchain technology, and I will mention one disadvantage as well.

• Advantage: It's easy to send and receive money all over the world by using Blockchain technology. Even in the countries that have not accepted Blockchain, we can still use local exchanges to convert crypto to fiat currencies. t
• Disadvantage: We can not recover a lost transaction! If I made a mistake and put the wrong address when transfer crypto, I will not be able to recover it! Some exchanges are offer recovering process but I tried it once it didn't work.