controversies of block chain technology

10 Things Not True About Block Chain Technology

Blockchain technology is still in the exploratory stage. Although foreign countries are more comprehensive in this respect than domestic ones, the education system about blockchain knowledge ecology is still far from mature. In Africa, the basic knowledge of blockchain is mixed. Some newcomers who want to get started enter the wrong path as soon as they enter the door. Some of the wrong paths includes: investing in ponzi schemes, buying cryptocurrencies because ‘’A’’ or ‘’B’’ said so. Education on blockchain technology is very important as it goes above cryptocurrencies which the media like talking about .

In the traditional Internet world, all information goes through a center that is processed, controlled, and stored by the center. 
This means that as long as the hacker breaks through the center, he can arbitrarily modify the information inside to make a profit for him . This is why block chain technology is coming as the game changer. Let us go through the ten points below to get better clarifications about block chain technology.


1. There is a specific “blockchain”. 

Most people don’t understand the operation principle of the blockchain. The blockchain concept that is known in the media reports is also ambiguous. It is always considered that the blockchain is like the Internet. There is only one specific blockchain system, which is completely wrong. 
Error correction: Blockchain is divided into public chain, private chain and alliance chain. Each blockchain project was developed for different purposes. For example, the public chain like Bitcoin, the semi-public network like Ripple, and the alliance chain like the super-book. 


2. Blockchain is equal to bitcoin. 

Due to the overwhelming coverage of the blockchain by the entire media about bitcoin, people sometimes confuse blockchain with bitcoin. Think bitcoin and blockchain are one thing, just one thing. 
Error correction: Blockchain is the underlying system technology that supports Bitcoin operation. In addition to supporting Bitcoin, blockchain can also support project operations in many fields. Bitcoin is a cryptocurrency that is a super-application on the blockchain.


3. Blockchain information is a non-public 

Report that hears blockchains can hide the criminal behavior of criminals. A common misconception about blockchain technology is that blockchain information is not public. 
Error correction: The code of the blockchain is open source, and the information data on most blockchains can also be queried.

4. Blockchain is just a distributed database.

When many technicians publish the definition of blockchain, they always define the blockchain from a technical point of view. It is a meal or a database, which also causes novices who do not understand the blockchain. misunderstanding. A blockchain is a storage database.


Correcting the error : Blockchain not only includes distributed storage, but also core technologies such as consensus mechanisms, programmable contracts, and digital signatures. It is a comprehensive technology.


5. Blockchain can improve efficiency 



Most people believe that the decentralization of blockchain can reduce the central link, for example: digital currency transfer reduces the transaction link than bank card payment. Therefore, it improves the efficiency of the entire project. 
Correcting mistakes : Sub-central systems do reduce some aspects of the system compared to the central system, but it does not mean that efficiency can be improved because the consensus mechanism in the sub-center system may be a waste of time and may actually cause the system to run. Reduced efficiency.


6. The data on the blockchain is a major feature of the real blockchain.

It is not tamper-evident. Some people think that the data on the blockchain is true. This is a wrong view. The record cannot be falsified and is not equal to reality. 
Correct the error: The blockchain just protects the data from being tampered with. Whether you are uploading real data or fake data.


7. The only application of Block chain Crypto Curreny

Many think that the application of blockchain is that the cryptocurrency and the chain are always double-in pairs, giving the impression that the cryptocurrency is the only one in the blockchain. In fact, the application of the blockchain is more than just a type of cryptocurrency, it can be applied to many fields. 
Correcting the error : Bitcoin is based on blockchain, just an application of blockchain, and there are many other applications for blockchain.



8. Pass and token are the same kind of thing 


Many people think that tokens and passes are the value of the token. It is taken for granted that the pass and token are just different, essentially the same thing. it’s wrong. 
Correct the error: tokens only represent value. The certificate can represent a variety of complex assets, such as real estate property rights, but also intellectual property rights. The concept of the pass is greater than the token.



9. The blockchain of a hundredfold

The blockchain of a hundredfold increase must not rely 
on the chaos of a hundredfold increase in cryptocurrency, making people think that the blockchain is not trustworthy. This is a misconception that is partial.


Correcting mistakes : In the long run, the application of blockchain to projects outside the cryptocurrency is its real value.

10. Encryption Currency Other currencies are different


From the surface. It is believed that the difference between cryptocurrency and other currencies lies in its encryption, and therefore it is considered to be a currency that is essentially different from other currencies.


Correcting the error: What is the nature of money? Its function is the value scale and means of circulation. At the functional level, cryptocurrency is no different from other currencies. Giving it a coat of passwords can’t change its essential attributes.

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