Blockchain not Always Optimal for Data Storage! ??

Over the past two years, the "web3 frens" have sought to utilize blockchain technology for a wide range of challenges, however, it has become clear that more is needed to tackle certain issues effectively.

Below are top 3 reasons why Blockchain is not Always Optimal for Data Storage.

1. Scalability Issues: Storing large amounts of data on a blockchain network can be challenging, as the number of transactions per second is limited and can affect the network's overall performance.
2. Privacy Concerns: Blockchain technology can provide increased security and transparency, but it may not provide the level of privacy that is needed for certain sensitive data, as all transactions are recorded publicly on a distributed ledger.
3. Technical Limitations: There may be technical limitations to the use of blockchain technology for data storage, such as difficulties with interoperability or efficiency in managing and retrieving data from a decentralized network.

Future Market Potential for Web3 by 2028.

The Global Web 3.0 Blockchain Market size is expected to reach $12.5 billion by 2028, as per the report published by KBV research. This is a huge jump from the market size of USD 3.42 Billion from 2021. The market is driven by the increasing acceptance of Web 3.0 cryptocurrencies and blockchain technology, as well as the growing demand for more secure and transparent payment systems and data storage solutions. Additionally, the COVID-19 pandemic accelerated the adoption of Web 3.0, as countries begun to adopt technology for smart contracts, digital identities, and digital exchanges.

If you could only make one modification to Web3, what would it be?

To be honest, it would be the user experience. Web3 has the potential to revolutionize the way we interact with the digital world, but if we want to appeal to the mainstream, we need to make the user experience as intuitive and accessible as possible. This means making the interface more user-friendly, with easily understandable menus and navigation.

what would you alter?