Blockchain Scaling Solutions & Trade-offs
Update: 2024-05-30
Description
Blockchain technology can be represented as being slow, inefficient, and inconsistent. Many would argue, this preserves the highest levels of security whilst aiming to maintain a peer to peer decentralised network. The question is, can this be improved to give users the best of both worlds, A fast, efficient blockchain that is also a secure, decentralised, and peer to peer network?
Let’s explore blockchain scaling and the methods used to increase transaction volume and speed, whilst decreasing congestion and cost. We’ll also discuss the trade-offs being introduced by various solutions. Understanding the long-term implications will also help evaluate the path a project is likely to follow and the overall outcomes.
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