Cryptocurrencies Aside, How User-Friendly is Blockchain?

Cryptocurrencies Aside, How User-Friendly is Blockchain?

Blockchain has gained much popularity over the years and has since evolved as well.. However, it is now moving towards being conventional. Nowadays, Blockchain is used in almost every platform whether to end poverty or to promote artwork.  All of this has shown the real potential of this technology in our mundane life. The knowledge of Blockchain is by far limited to few people. Although, the awareness regarding this user-friendly platform is spreading in the world slowly, it still has a long way to go.

In this post, we will talk about how Blockchain application is user-friendly beyond what we previously thought.

1. Handling the Issue of Scalability

After gaining unexpected popularity in the last few years, Bitcoin has become one of the top cryptocurrencies. Then, in 2017, Blockchain scalability came in spotlight.  Bitcoin was at its peak, and due to this, transactions done consumed the whole day that also charged around 28 dollars fees.

It seems like the issue of scalability wasn’t limited only to Bitcoin. In fact, the popular Ethereum game, CryptoKitties also made many delays and the issue of usability took place in several distinct Ethereum applications and tokens in the fourth quarter of 2017. It also seems like the Blockchain supporters and enthusiasts might be ready to bear the complications and fluctuating fees.

As of now, experts are looking for a straightforward fix to handle the issue of Blockchain scalability. However, the new cryptocurrency named Zilliqa, which is  also a Blockchain platform, comes with Blockchain scalability project, thus reflecting that the cryptocurrency has the power and capability to revolutionize the idea of the Blockchain platform.

Unlike Zilliqa, many Blockchains ignored the requirement for scalability solutions initially as they considered the industry to be in its infancy and that adoption and its use may require some time. Lately, Zilliqa has received a good number of transactions for its Blockchain scalability solutions as compared to the last few months..

However, Ethereum is planning to incorporate with extra energy efficient proof-of-stake protocol by the end of 2018. Ethereum has also talked about the sharding networks to enhance the rapidity and to boost agility.

See AlsoHow to Buy Bitcoin for The First Time?

2. Providing Protection and Security

As per the reports of the first-quarter of 2018, the majority of the transactions of Bitcoin cryptocurrency were related with the unlawful actions. Moreover, unluckily, phishing has become a basic in the world of altcoins as well as ICOs. In fact, it siphons off around 0- 10% of funds intended for ICOs.

However, in response to the same, many firms came in front and launched solutions to aid newbies to participate with assurance and confidence.  Moreover, Indisputable Labs’ Coral platform provides a score to trust cryptocurrency wallets, this scorecard is prepared by taking the reference of transaction history of the platform.  Indisputable Labs’ is going to consider about the alliance with unidentified phishing-related funds in the created list. Blockchain enthusiasts can go through the trust score to prevent phishers and attackers.

Now, cryptocurrency like ZenCash (Zen) offers an anonymous transaction facility for its users. It also offers the ZenCash  as a secure platform that has been prepared for ZEN users to make off-grid transactions secure and private so that, users can avert phishing attacks and stay safe.

3. Giving Chances to New Blockchain Creators

Nowadays, there are a lot of organizations that are giving importance to user friendly Blockchain applications. Recently Amazon Web Services began a Blockchain template program for users of the popular cloud service to launch its business-ready Blockchain networks. In a much recent news, Amazon introduced a program to its cloud service user base, to introduce Blockchain networks for business. In fact, IBM is also all set to to roll out a  Blockchain building and testing environment, especially targeting startups.

The Bottom Line:

Blockchain has a lot of potential and has a promising future for its users. In fact, many companies are working hard to make Blockchain applications user-friendly to give more to its users and to build their trust. However, the full potential won’t be understood and appreciated until most of us use the platform.

Read Also: An Insight Into Hashing & Digital Signature in Blockchain

Bhoomika Basera is an analyst and blogger at Systweak Software. She likes to explore and discover latest technological updates and hacks.She is a backpack traveller and loves to explore cities and off beat places!

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