> For the complete documentation index, see [llms.txt](https://functional.gitbook.io/database_comparison_report/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://functional.gitbook.io/database_comparison_report/blockchain/the-pros-and-cons-of-blockchain.md).

# The Pros and Cons of Blockchain

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**Pro: Less Fraud**

Once enough people are using your blockchain, the chance of fraudulent transactions shrinks almost to zero. Creating a fake entry in the database is likely so difficult that the cost isn't worth it. Blockchains are thus extremely powerful in situations where the integrity of your database is important, such as finance.

**Pro: Complete History**

The blockchain keeps track of every transaction that's ever been made. You can see a comprehensive record of the database's state at any point in time—which is highly useful for events such as an audit.

**Pro: High Availability**

Centralized databases are constrained to a single location and can easily fail. Because blockchains are distributed across many computers, however, they can almost never go down. Thanks to the blockchain, it's extremely unlikely that cryptocurrencies like Bitcoin will ever stop working. This also means that no single government or institution can ban the blockchain, as long as there are other servers running the database outside their jurisdiction.

**Con: Cost and Speed**

While the blockchain has some serious built-in advantages, it's not a perfect solution. Blockchains are orders of magnitude slower than a centralized database, and also more expensive to maintain—we're talking thousands or tens of thousands of times.

**Con: Editability**

Fixing a bug or adding features to a centralized database is a piece of cake compared to the blockchain. Once a blockchain database has been established, everyone on the network needs to agree to make a proposed change. No one has centralized authority on the Bitcoin blockchain, for example. Bitcoin forks occur because developers fundamentally disagree about what the future of Bitcoin should look like. The code base splits and "spins off" into another independent project.