Blockchain, in a nutshell, is a shared ledger or database that records transactions across a network of multiple computers or nodes. Because blockchain is distributed in this way, with no single node in control, it is a decentralized network operating without any centralized authority. Transactions are processed automatically by the network’s users, and they are all recorded in a transparent, immutable, and secure manner that makes them irreversible.
These characteristics make blockchain a potentially disruptive force in industries such as finance, healthcare, supply chain management, and more. However, the technology also has significant limitations that have prevented it from achieving widespread adoption. These limitations include scalability issues, high energy consumption, regulatory challenges, and a surprising lack of functionality when it comes to building applications that live on the blockchain.
Vara has the solution.
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