There are so many crypto enthusiasts who are planning to scale blockchain on a technical level like increasing its storage, providing more transactions and a higher level of security, etc. But there is one thing that most of the people ignore when it comes to blockchain- easier transactions.
FIO Foundation has conducted a research in which it has been proven that nearly 75% of the users are not sure that their transactions will go as they planned and more than 55% are struggling while making any transaction. Some faced loss of the funds too. The complexity of the transactions is the main reason behind these issues.
The enthusiasts and industry experts are putting in a lot of efforts in scaling up the blockchain but are neglecting the usage of cryptocurrency platform in the first place. The process of transactions in the blockchain is comparatively slow, complex, risky and cumbersome. Any novice person will struggle a lot to complete these transactions. The sender of the transaction should ask for the lengthy code from the receiver and paste it in the wallet software, in between he/she has to enter the mining fees and should wait for some time so that the transaction is included in a block.
Amidst all of these, there are high chances of falling prey to the crypto clipboard malware. Even if the transaction is completed successfully, the sender won’t be able to know about it. Due to the privacy issues, one address can be used only once and even if you are making another transaction to the same receiver, you have to generate a new address.
The blockchain payments are irreversible, and there will be no third party involved who will stop the payment if there are any issues. This way there are so many complexities involved in the blockchain transfer, and most of the novices, as well as non-technical people, are suffering because of it.