Many IoT systems have a single point of failure. Once that single point of failure is attacked, the whole system becomes compromised. Can blockchain turn the tables?

The whole point of developing cryptocurrencies has been taking control back to the people, the users. Bitcoin and indeed all cryptocurrencies have been developed to empower ordinary users with complete control and easy access to their assets, in this case, money. Thus, the central hold and control of huge financial firms on people’s money have been threatened.

The explosion of cryptocurrency in the crypto space has become a common occurrence. For example, from the time bitcoin entered the world market as an accepted digital currency, many more crypto currencies that emerged from almost nowhere.

Every game-changer has benefits. Many of us will relate how the internet has revolutionized everything around us. Communication, relationships, finances and a lot more have changed for the better. The same applies to the blockchain. Before we discuss some perceived disadvantages, this article will briefly look at some advantages and benefits of blockchain technology.