Blockchain technology

In two (pages) Write an APA formatted paper on Blockchain:

• What is Blockchain (describe…use an example if possible)?
• How is it used today and how can it be used in the future?
• What technologies are part of Blockchain?
• What are the drawbacks of using Blockchain?

answer the questions in two pages using APA

Answer preview

It is considered an immature technology that is facing several implementation challenges, such as a lack of skilled developers who can integrate it into the legal system. This leaves it unregulated, limiting its security. Secondly, the lack of blockchain developers due to a shortage of trained and skilled people renders implementation and management of projects difficult (Zheng, Xie, Dai, Chen & Wang, 2018). The third drawback is security and privacy challenges since hackers can still breach the blockchain systems through cryptographic cracking, double-spending, 51% attack, and DDoS attack.

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