The system based on blockchain has broad prospects in the future, but we need to be very clear about what blockchain can do. Imagine the blockchain technology in the next 20 years, and its impact may be as great as the Internet.

But what is shocking is that today we mainly see that the project seems to be based on decentralized design. In fact, people have some misunderstandings about blockchain.

If we want technology to develop in the right direction, we need to turn this upsurge into fruitful practical expectations to reduce the possibility of the supply chain falling into the "bottom". Once you fall into the "bottom", you may be abandoned in the corner and proved by meaningless concepts.

Let's take a look at seven unrealistic misunderstandings about blockchain:

Myth 1: High scalability.

Compared with the traditional (server-based) transaction mode, the blockchain deployment has no real scalability, and the current transaction time depends on the slow side. They are extensible only for certain types of transactions, such as transactions with small load and close to certain limits. You can't just pile up blockchain information.

Myth 2: Absolutely safe.

Although blockchain is based on encryption standards, the method to ensure privacy does not belong to any blockchain standard and implementation at all. Only encryption experts can truly understand and verify blockchain integration. However, each implementer is responsible for ensuring security, so this treatment is largely the same as the management of financial transactions in the old days.

Myth 3: Trustworthy.

Blockchain ensures the integrity of transactions and information, otherwise anything stored in blockchain is not credible. You need to ensure that the parties storing facts in the blockchain are credible and can ensure the authenticity of the facts to ensure that it is truly credible. This governance model allows multiple parties to be jointly responsible for the infrastructure, while requiring secure access to the facts stored in the blockchain.

Myth 4: You can put anything in the blockchain.

Blockchain is a protocol represented by code and is not defined according to any standard. No standard body provides rules or guidance for the implementation of sanctions.

Usually, you can only handle small payloads, and you still need to reach an agreed standard among all participants so that anyone can understand what is stored.

Myth 5: You can express anything in a smart contract.

Although this is technically feasible, in practice, blockchain is limited to easy-to-understand use cases. Smart contracts are very complicated in nature. By design, once published, you cannot modify or repair them. They contain very complex interactions and irreversible results.

Myth 6: You don't like public chain, please choose private chain.

Private chain is not a channel to obtain private or restricted information. In fact, you can even think that private chain stores should not be an open choice. However, enterprise blockchain may not realize any inherent advantages of blockchain technology, and privately developed blockchain may lack the necessary community and academic review to ensure its attributes.

Myth 7: The size of the community doesn't matter.

Blockchain products promoted by the community are being forked by private players in all aspects, and they strengthen their role in various ways. However, the huge community composed of adopters, users, scholars and implementers is the only force to ensure the validity of password attributes. Only the open source blockchain with the largest community and installation foundation will continue. The rest can be considered as experiments in the laboratory, and 99.9% will "suddenly die".

Smart technicians will keep moving forward according to use cases and a series of first principles in their minds. First, there may never be a blockchain to manage all these problems. Two different use cases require different blockchains. Some participants are many, some are few, some need strong privacy around facts, and some are completely transparent.

Considering all the above, what we can do now is to innovate, overcome real business problems and start proof of concept to better understand the power of blockchain.