Why is the blockchain general ledger getting larger and larger
Why does the blockchain ledger make transactions more cost-effective, according to Cointelgraph. In the past two decades (starting from 2013), with the increasing demand for the digital economy and the increasing popularity of financial services by enterprises, there has been an increasing number of traditional institutions, companies, and other organizations using distributed ledger technology to handle various types of businesses, such as banks, insurance companies, and other non-governmental or public institutions, since 2019 However, although most commercial services are currently managed through smart contracts and supported by third parties, these systems are not suitable as payment tools due to their decentralized nature, as they can cause changes in data storage methods and typically require users to verify them themselves. The main characteristics of the blockchain ledger include: its immutability and traceability; Safe and reliable; High transparency and easy access
The blockchain ledger is getting bigger
According to Cointelgraph, the blockchain ledger is getting bigger.
. According to a report, in 2017, nearly 20000 public or private Cryptocurrency wallets were using Bitcoin and Ethereum to make payments, compared with more than 40000 in 2018. This means that although most transactions are unrelated to Bitcoin; But blockchain ledgers are also growing. In the third quarter of 2018, there were only approximately 100 active blockchain nodes, most of which were located in the United States and Europe.
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