Blockchain is expensive and not scalable!
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The first Bitcoin paper was first released in 2008. The excitement about the potential of blockchain technology has been building ever since but Blockchains, as it stands today, are limited in their ability to scale.
13 Years in, nobody has come up with a use for Blockchain. Is It really the case?
Currently, all blockchain consensus protocols (eg. Bitcoin, Ethereum, Ripple, Tendermint) have a challenging limitation: every fully participating node in the network must process every transaction -which means that every single node on the network processes every transaction and maintains a copy of the entire state.
In order to scale, the blockchain protocol must figure out a mechanism to limit the number of participating nodes needed to validate each transaction, without losing the network’s trust that each transaction is valid.
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Read this article below for a better understanding of the topic
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