Here are some of the challenges, or disadvantages, of using a public blockchain:
- Wasteful and limited scalability: In order to maintain a consensus across a public blockchain, every (full) node needs to run the entire blockchain. Each node in the network repeats the same task (for example, executing a smart contract) to reach a consensus, which eats up a lot of time and electricity along the way. This process makes the execution of tasks (that is, computations) extremely slow and more expensive than on a traditional centralized computer or shared database. The time required to process a block of transactions can take anywhere from seconds to minutes, and during peak periods, it can even take longer. Compare that with the almost ...
