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Author Topic: the risk of blockchain  (Read 130 times)
charina
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July 07, 2018, 04:05:02 PM
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correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?
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BitcoinNewbie15
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July 07, 2018, 04:24:27 PM
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correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?

Blockchain systems are unhackable (so far). We know this because Bitcoin is worth Billions of dollars and has been attacked by the most sophisticated hackers over the course of the last 9 years. Nothing has happened yet and bitcoin has been running just fine 24/7/365. As far as bugs are concerned, Bitcoin has bugs currently and has had them in the past. There was a leveldb bug many years back. In the event of a major bug in the network, the network can be hard-forked to resolve the bug. This should only take place though if it is a very, very serious issue. A perfect example of a more recent bug in Bitcoin was a bug known as transaction malleability. The recent Segwit soft fork actually resolved this bug and the network experienced 0 interruptions during this upgrade. From a computer science point of view, that is simply amazing.
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July 07, 2018, 04:34:45 PM
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It is this difference that makes blockchain technology so useful – It represents an innovation in information registration and distribution that eliminates the need for a trusted party to facilitate digital relationships.

Yet, blockchain technology, for all its merits, is not a new technology.
First77
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July 07, 2018, 04:44:28 PM
 #4

Mastercard to start anonymous transactions on blockchain

Mastercard won a patent for anonymous transactions based on Blockchain. The new Mastercard patent describes a system that facilitates anonymous transactions through a block system. According to Mastercard, the transparent nature of transactions with blocking is an obstacle to adopting this technology for daily payments. Personally for here there will be no transparency. On the contrary, "you are in the rhythm of dance - you do not have to go anywhere" Mastercard actively cooperates with the states. Now the entire transaction will remain in life in the blockchain.

https://www.ccn.com

Blockchain seems to be very safe and secured technology
odolvlobo
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July 07, 2018, 05:30:31 PM
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correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?

Cryptography, which is just math, is used to prove the validity of a block chain. It can't be hacked or bugged unless the cryptography is broken.

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Kate Beckett
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July 07, 2018, 05:47:26 PM
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I believe that the biggest risk that entails the blockchain technolohy is the activation of criminal activity with the help of crypto currency. Crypto currency can be a means for money laundering, financing of terrorism, drug trafficking, people and other variants of criminal activity.
jemine
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July 07, 2018, 05:54:19 PM
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correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?
from what i have read so far about blockchain. it is cannot be hacked and hence no need for your question
shark69
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July 07, 2018, 06:01:50 PM
 #8

correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?
I've never heard of blockchain tapping before. I think blockchain is designed in such a way that it is difficult to hack. Unless you mean hack the address of the wallet. If hacking the wallet's address is certainly not possible hacked through blockchain, it must be hacked through the exchange site that has been happening a lot.

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Markmolotok1488
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July 07, 2018, 06:18:18 PM
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I do not think that the blockchain has any problems, because during the entire existence of bitcoin it wasn't hacked, which means that the blockchain is safe.
Deewhy2
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July 07, 2018, 06:25:18 PM
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I do say this always that all business is a risk,  so far you put your money or time its a risk.
The only risk I can figure out in blockchain is fall in market price.  Blockchain has been for along time now and will still stay as long as I know

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temperatunre
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July 10, 2018, 03:28:27 AM
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All games in the world are risk and blockchain is no exception. So be calm and keep going, blockchain will bring you to many new things
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July 10, 2018, 07:47:17 AM
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I think blockchain is mostly known as backbone technology behind Bitcoin Because decentralized blockchain networks have no central point of failure and are better able to resist malicious attacks.

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July 31, 2018, 03:06:43 PM
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If in the government of my country before the election, they say that everything should be on the blockchain. That they know more than us. So hacking is not possible. I will entrust them. And I will believe in the blockchain Wink
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July 31, 2018, 03:17:59 PM
 #14

The prices of tokens generated by the blockchain fluctuate greatly and are easily manipulated by the market. Therefore, if you are new to the block chain, investment encryption is not recommended.

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July 31, 2018, 03:18:28 PM
 #15

correct me if im wrong base on what i have read...blockchain connects one thing to another...my question is what if it was hacked or it was bugged? do all the informations were safe or will it be sustained?


may still be safe and can be maintained because it is not so easy that blockchain is hacked and will always be safe if you keep it
Glyphotex
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July 31, 2018, 03:32:09 PM
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I don't think the blockchain can be hacked.. At least, just yet.
rlm42
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July 31, 2018, 04:13:02 PM
 #17

From the point of view of cryptography, the block is sufficiently protected against such attacks. Quantum computers and quantum computing also do not pose a threat to hashing functions and the blockchain itself.
attacks by rebuilding the chain of blocks are real and depend on how well the shares of those participants who participate in the creation of blocks are distributed, where the shares can be measured both in computing power and other quantities depending on the consensus algorithm. The real danger is only short-term attacks on the last few blocks of the chain. To avoid risks, you must wait for a certain number of blocks to stabilize the chain. From practice for Bitcoin it is enough to wait for 3 blocks.
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August 04, 2018, 09:17:44 PM
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One thing in life I have realized is that you need to take risks before you can make it in life. Blockchain is risky because you can either lose or gain profits. It's luck but it's worth it.
gantez
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August 04, 2018, 09:50:42 PM
 #19

The blockchain is a secured technology, it has not been hacked or bugged before and after the introduction of bitcoin itself.

One thing in life I have realized is that you need to take risks before you can make it in life.

Yes we can take risk but not all risk is worth it.


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August 10, 2018, 01:04:19 AM
 #20

Blockchain is one of the most important techniques in the last decade
And will be the cause of significant development in all sectors
  So for their big advantages and from it
Transparency
the speed
Safety
Low cost

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