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Cryptography Characteristics in Blockchain

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Ping Choy Hong Kong
Cryptography: Any transaction on blockchain is cryptographed. It is a method to hide information and keep its content safe and secret. It is encrypted with specified coding which could only read by the sender and the recipient. Basically, each party has its identity to unlock the encrypted code.

Pros: improve security

Cons: What is the drawback on cryptography?

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Keith Novak Tukwila, Wa, United States
If it was easy and free, then there would not be much of a barrier to defeating it. Consider the cost of maintaining those secure transactions, and what prevents a 51% attack.
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1 reply by Ping Choy
Apr 01, 2019 7:03 PM
Ping Choy
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Its depends on the length of the chain . the short the chain the higher the risk of 51 % attack. But multichain would also increase the risk of forking ….. what kind of risk factor should I classified it ?
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
In the term of less than 5 years all crypto-something will be obsolete. Blockchain is a powerfull concept (all concept, not new) that you can implement without cryptograpy.
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1 reply by Ping Choy
Apr 02, 2019 3:46 PM
Ping Choy
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Hi
Would you mind further explain why Cryptocurrencies would be obsolete in 5 years. And why the concept of Blockchain could be implement without cryptography ?
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Ping Choy Hong Kong
Apr 01, 2019 11:21 AM
Replying to Keith Novak
...
If it was easy and free, then there would not be much of a barrier to defeating it. Consider the cost of maintaining those secure transactions, and what prevents a 51% attack.
Its depends on the length of the chain . the short the chain the higher the risk of 51 % attack. But multichain would also increase the risk of forking ….. what kind of risk factor should I classified it ?
avatar
Ping Choy Hong Kong
Apr 01, 2019 7:02 PM
Replying to Sergio Luis Conte
...
In the term of less than 5 years all crypto-something will be obsolete. Blockchain is a powerfull concept (all concept, not new) that you can implement without cryptograpy.
Hi
Would you mind further explain why Cryptocurrencies would be obsolete in 5 years. And why the concept of Blockchain could be implement without cryptography ?

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