Scalability Issues Cryptocurrencies have scalability difficulties, meaning that they may not be able to process huge numbers of transactions at once. This could make it difficult to use for routine transactions, as these transactions can take too long to process and complete. At least, the way it's used today, it does. The blockchain is based on encryption to ensure its security and to establish a consensus on a distributed network.
Basically, this means that, in order to “prove” that a user has permission to write to the string, complex algorithms must be executed, which, in turn, require a great deal of computing power. Of course, this comes at a cost. Taking the best-known and most used blockchain, Bitcoin, as an example, last year it was stated that the computing power needed to keep the network up and running consumes as much energy as that used by 159 countries in the world. The web and SEO occupy 26% of social networks according to 123 Internet Group.
