Web3 disadvantages and limitations:Many industry experts mention it and I probably will not be an exception. To date, many popular distributed ledger systems cannot process a large number of transactions that leads to a slowdown in the turnover and processing of transactions in them.
Currently, the Bitcoin blockchain requires about 200 GB of disk space. And with time, many blockchain registries may increase significantly. The increases in the block sizes obviously outstrips the increase in the capacity of hard drives, and the network risks losing nodes if the registries become too large for users to download and store.
- Off-scale resource and energy intensity are also specific risks of the web3 sector.
And this is, perhaps, the main challenge to my mind. For many banks and financial institutions, the issues of
regulation, personal data protection, compatibility with other software and equipment are quite acute and businesses are afraid to implement really functional and cost-effective solutions.