Although blockchain is often considered revolutionary technology, there are those who believe it is not really necessary in today’s world. There are several arguments against using blockchain more widely in today’s world. One is that writing smart contracts is hard unless you are very good at programming, but auditing written software is even harder. This means that a small bug can potentially be exploited to steal your funds, if the malicious actor knows what they are doing. Additionally, it takes a lot of technical know-how to follow the blockchain’s processes without relying on third party apps that can also misuse your trust.
Another common reason is that blockchain is not applicable to many cases, and even when it is, it is often too complex for them. In other words, it is considered an overengineered solution to many problems. Since it is computationally heavy, many projects would benefit more from a lighter, but similar solution. For example, even though so-called dapp games like CryptoKitties are fun, they can also be hard to navigate and often suffer from network issues due to the number of users. This makes other games that feature collecting items, like Stardew Valley, much more popular. Last but not least, the unregulated space surrounding the technology gave it a bad reputation, furthered by frequent hacks from its early days. But another technology has started with similar criticisms and is now thriving: the Internet. Will blockchain follow in its footsteps?
