What can threat cryptcocurrency like bitcoin?
bitcoin·@steemitgeek·
0.000 HBDWhat can threat cryptcocurrency like bitcoin?
Cryptcocurrency is now a hot topic in world currency system. Is uses a highly secured system to store and transaction of money call blockchain technology. It is becoming popular day by day. But what can be it's threat in future. We will discuss about it in this post. https://s26.postimg.cc/dp6vcekqx/Tension.jpg <center>Image source: <a href="https://pixabay.com/en/despair-alone-being-alone-archetype-513529/">, Labeled with reuse.</center> <h5>Energy consumption:</h5> A study shows that bitcoin uses 236 KWh electricity in each transaction. Now on average around 300,000 transaction are made per day. This is a huge amount of electricity. This is more than the total electricity uses per day by a whole country Nigeria. <h5>Scalability:</h5> We know that bitcoin supply is limited only 21 millions. On 2140 all bitcoin supply will be finished and miners will not get any block for bitcoin mining. Their only source of income will be from a transaction. If bitcoin value goes down all of miners will stop mining and no one will use blockchain technology. <h5>Technology:</h5> Bitcoin does not use superior blockchain technology. It is one the top because this one was first created on 2009. <h5>Dominance:</h5> Some of the giant tech industry like facebook, amazon and google announced that they will implement their own blockchain technology. If this happen, they will dominance this market. There are some other threats like quantum computing, bitcoin bubble etc. So in short we can say that the bitcoin future can change in next century. https://s26.postimg.cc/4e9mhf9y1/Message.png