Deloitte highlights five areas of blockchain progress

Deloitte published an article that explores five potential barriers to the adoption of blockchain by enterprises. They address the progress that has been made so far in each of the areas. Below is a summary.

Scalability and performance

Compared to conventional databases, blockchains are slow because separate servers have to agree on transactions. The report quotes typical public blockchain Bitcoin and Ethereum performance rates of seven and fifteen transactions per second respectively. Private blockchains tend to be faster, but are still far slower than relational databases. However, there is ongoing innovation in consensus mechanisms which show promise. Perhaps one of Deloitte’s most important points is that each consensus mechanism may be more or less suitable depending on the application.

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