Part 3/8:
This theoretical framework underpins blockchain's touted advantages: enhanced security and transparency. As exemplified by Bitcoin, which has proven its efficacy over more than a decade, the foundational principles of blockchain appear robust.
The Big Problem: Big Data
However, a critical issue looms large—Big Data. For context, consider Visa, which processed nearly 297 billion transactions in a single year, generating an astounding 400 terabytes of transactional data. In comparison, the most extensive blockchain today, Solana, comprises only about 250 terabytes of data. While substantial, this figure is dwarfed by the vast quantities produced by traditional financial systems.