Hello People! Did you know that not every blockchain ends up costing you heavily? Yes, it is possible to have your own little blockchain without spending a fortune. Let’s see this!
A blockchain’s cost of maintenance increases as per the number of blocks you add and how difficult it is to add each one of them. This is the reason blockchain tech is infamous for it’s high costs.
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Infographic explained: A heavy blockchain consumes resources because you have to add blocks to it. Without that, it would not be functional. The lighter and simple and easy to handle your blockchain is, it would not cost you that much.
Here’s why you can start a blockchain for your company. Check out this image.
At a company with its own production site, a product was in production. Production staff created a lot of data while in production. Also, the company had customers, there were local businesses who needed that product.
The company created it’s own little, easy blockchain. They took the most vital data from the one created by production staff, displayed it to improve visibility for every order, had each customer digitally sign against their applicable data.
This meant that the blockchain was lightweight but high on transparency for each business in the supply chain. And without costing much. End of story, people. I’ll see you soon! So,
G’Bye,
Gaurvi.
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