Current Problems

Despite the rapid development of the blockchain technology, there are still challenges ahead.

• Security risks of smart contracts. Users might lose their digital assets during hacker attacks.

• Difficulties of cooperations and interconnections of different blockchain platforms of different fields of application. Although such information interactions were already attempted, it is not sufficient to support the development of the whole blockchain ecosystem.

• Difficulties of linking between the blockchain world and the non-blockchain based reality. Ideas cannot be easily put into application, such as tracking of commodity authentication.

• At present, the blockchain industry still requires high technical qualifications, which leads to the high cost of large scale business.

• Low transaction performance compared to the centralized systems.