Final Project Has Two Parts: Limitations Of Blockchain And Emerging Concepts

Final ProjectStudent’s NameInstitutional AffiliationCourse Number and NameName of InstructorDue DateFinal ProjectPart IIntroductionBlockchain is one of the most revolutionizing technologies in the past decade. According to Ali et al. (2019), Blockchain is a distributed ledger that is capable of storing records of transactions that have been validated by computers on the ledger’s network. Despite being one of the most influential technologies in the 21st century, its adoption in various aspects of daily lives like online transactions has not been easy. Several challenges have been identified that make it difficult for the wholesome adoption and use of the technology. They include security and privacy concerns, limited scalability, high power consumption, lack of standardization, as well asgovernance, and regulatory issues. The following section of the discussion examines these challenges and suggests potential solutions. It concludes by discussing whether it is possible to overcome or mitigate these challenges in the future. Limitations of BlockchainSecurity ConcernsSayadi, Rejeb, and Choukair (2018) report that the consensus mechanism relied on by Blockchain technology has a security vulnerability of 51 percent