Fundamental challenges with public blockchains

1. Limited scalability

Scalability Solutions

DAG

2. Limited privacy

Privacy solutions

Conceptual diagram that illustrates the general idea of the key exchange by using colors instead of very large numbers (Source: https://en.wikipedia.org/wiki/Diffie%E2%80%93Hellman_key_exchange)
Source: https://en.wikipedia.org/wiki/CoinJoin
Zcash transaction diagram
Source: https://www.slideshare.net/JavierGonzlez49/operating-system-support-for-runtime-security-with-a-trusted-execution-environment-phd-thesis

3. Lack of formal contract verification

Formal verification solutions

4. Storage constraints

Storage Solutions

5. Unsustainable consensus mechanisms

Consensus Solutions

6. Lack of governance and standards

7. Inadequate tooling

8. Quantum computing threat

Miscellaneous challenges to keep in mind

Conclusion

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