Characteristics of blockchain
| Characteristics of blockchain | Advantages | Disadvantages |
|---|---|---|
| P2P | P2P transaction is possible without trusted 3rd service provider Unnecessary fee is reduced | When problem occurs, it is uncertain who is responsible for it |
| Scalability | Easily established, connected and expanded by disclosed source Cost of system development is reduced | The possible number of transactions that payment can be handled is very slight compared to the transaction scale within real economy |
| Transparency | It is possible to publicly access all transaction records. Legalization of transactions and reduction of regulation costs | Since transaction details are disclosed, all transactions could be tracked, in principle Perfect guarantee of pseudo-anonymity may be difficult, and reidentification by combining is possible |
| Security | The ledger is jointly owned (integrity) Cost related to security is reduced | When private key is hacked or lost, there is no general solution It does not provide confidentiality |
| System stability | There is no single failure point. If errors or decline in function occurs in certain participating systems, the effect on the whole network is very slight. | Excavation focuses on large mining pools. It is difficult to execute real-time, large volume handling |
| Characteristics of blockchain | Advantages | Disadvantages |
|---|---|---|
| P2P | P2P transaction is possible without trusted 3rd service provider | When problem occurs, it is uncertain who is responsible for it |
| Scalability | Easily established, connected and expanded by disclosed source | The possible number of transactions that payment can be handled is very slight compared to the transaction scale within real economy |
| Transparency | It is possible to publicly access all transaction records. | Since transaction details are disclosed, all transactions could be tracked, in principle |
| Security | The ledger is jointly owned | When private key is hacked or lost, there is no general solution |
| System | There is no single failure point. | Excavation focuses on large mining pools. |