#ReboundRally
Weaknesses of blockchain technology
Blockchain technology follows the principle of "code is law", creating a trustless system that provides security and trust by automating processes through code and eliminating the need for third-party intermediaries; however, the security of this system is entirely dependent on the integrity of the input data, and if there are problems with the input data, even a perfectly designed smart contract can go awry, leading to unpredictable operation of the entire system, and thus potential risks.
To address this challenge, the blockchain industry has introduced predicators, which are distributed data providers. however, predicators typically operate outside the blockchain, limiting their ability to maintain the security and integrity of the blockchain. in addition, the use of external data sources introduces the risk of a single point of failure, and certain predicators lack decentralization due to their dependence on a small number of nodes. as a result, the reliability of the data has become a weakness of the blockchain technology.