Blockchain Trilemma - Crypto Academy / S5W2 - Homework post for nane15.

1. Explain in your own words what the blockchain Trilemma is.

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The blockchain trilemma could be a concept coined by Vitalik Buterin. Concept concept, suggests settling on only two out of three. In economics, we've got what we fixate on the dimensions of preference and ignore the compound.

The priority dimension is to list the most important to prepare a list of needs. In the case of Trilemma in blockchain, the three major issues relate to decentralization, quantization and security.

Now, conceptually the developers want to settle on two out of three who can embrace the blockchain and forget the other. One of the three must be sacrificed in as many words.

For example, one developer envisions building a blockchain that opts for decentralization and quantization, therefore omitting security as a result of Trilemma's plan 3bit does not support blockchains. In this case, we can say that the top of the blockchain consists of a spear.

With the return of Trilemma, the gift in blockchain, this may be the reason why most people have not accepted the use of blockchain technology. If these issues are fully resolved the blockchain will be generally accepted and used by all.

From studies and analysis, blockchains like Cardona Blockchain Network, Solana Blockchain Network etc. have mentioned that every negativity has been resolved.

This claim made by Blockchain is under review and involves the use of a ton of space between blockchains which proves that it is capable of solving many issues associated with blockchain technology.

2.Is the Blockchain Trilemma Really a Trilemma

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Trilemma: Three things. Area units are considered a trilemma if they are needed for a similar amount of time to cause terrible trouble. Blockchain networks still have a lot of areas for improvement.

With the phenomenon of blockchain networks, most of them are being able to face the challenges of implementing three main options at the same time on their networks. There are no irrefutable facts to support the Blockchain Trilemma plan.

I believe the Blockchain Trilemma complicates things a bit, despite the fact that none of the existing Blockchain networks have been completely hit in the meantime.

I think it's just the related evolved term that indicates the importance of those three main options and the way it looks next to them is tricky.

3.- Define the following concepts in your own words: Decentralization, Scalability, Blockchain Security

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Decentralization: Once a suburban blockchain has no central entity that controls or controls it, this type of network is given life by nodes distributed throughout the planet. One of every blessing of decentralization is that everyone has equal rights and no user will get an additional advantage over others.

Decentralization is a mainstay of cryptocurrency and one of the explanations why Satoshi Nakamoto created BTC, a centralized blockchain network that would not allow any users within the crypto community.

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Scalability: This is a living expression of the power of a blockchain. It can also be highlighted as having the potential to grow as additional users use its plan, typically interpreting large volumes into faster transactions at lower prices, as the system employs. Thanks for the rise because the collapse won't happen.

Over the years we have seen that although important networks such as Ethereum and Bitcoin have serious quantitative issues that offer slow transactions and embassy payments, with this flaw many users have looked for cheaper alternatives to alternative networks.

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Security of Blockchain: This is one of the most important features, being a suburban system, people have ambiguity to travel. Don't lose A blockchain must be designed to be secure enough so that transactions are not rigged, that one node does not occupy fifty of the entire network, or that a hacker can alter the distributed ledger among several alternatives. Can't. Many malicious activities will occur that will put the blockchain at risk and security must be prepared to fight it.

Security within a blockchain has various components, although most importantly, networks operating in the blockchain in the protocol, such as BTC, Ethereum, LTC, justice, among others, use the rule of proof of labor, although it Not the only one that exists, we have been able to realize Proof of Stake, Delegate Proof of Stake, Proof of History among many others.

These compromise algorithms measure the security suppliers of most blockchain networks, a blockchain, while a non-compromise rule is heavily attacked by hackers and may have little acceptance from the community because they will not feel secure operating on their network.

Based on your knowledge, explain at least two viable solutions to the challenges posed in the Blockchain Trilemma.

Update the Primary Layer: While transport enhancements in most blockchains will solve the issues of the trilemma, a real improvement is often achieved if new technologies are implemented that improve the plan. As a prime example of how this would be done, we have Ethereum which will modify its contract algorithmic program from PoW to PoS, which has been able to significantly improve its scalability.

While these updates are not simple and often take a long time, it is a viable solution for Blockchain Trilemma, in addition to the many benefits you will bring to your users.

Second Layer Solutions: Focused on several different blockchain networks, such as Plain Figure, Harmony, among others. These enhancements implemented will increase the scalability or, at best, enhance the security of the blockchain.

The second layer of the blockchain mostly runs parallel to the blockchain and makes the network work easier.

To give an additional sensible example, let's say Ethereum has one million transactions per hour which causes it to collapse, what if a second layer is implemented such that 1/2 of those transactions will be valid within the second layer And so they will be sent valid to the primary, which cuts down on the work [*fr1], I know this may be a very basic example, although it is the basis for the operation of other layers.

Sidechain: This can be a sequence of blocks that operate individually from the initial network, although still allowing context to it. Sidechains will modify their programming and therefore the kind of things that are solved on this network are often completely different from those of the beginners.

A sidechain has the flexibility to significantly improve scalability without reducing decentralization and security.

Additionally currently, the network allows suburban applications to be attached seamlessly, which is not possible within the native network. So users using this network will have to create their own tokens and convert them, for example, into wBTC, wETH, wDOGE tokens.

Among the most famous sidechains we will find Liquid Network and RSK

Conclusion:-

As the new one arrives, Blockchain Trilemma may be a thing of the past and tackles the most determined challenges that previously blockchains could not.

The Ethereum Foundation is coming to an end on this, as they seek to launch a pair of is in Ethereum's mainnet with the aim of exposing the blockchain trilemma.

Solana, Polcado, Cardano and alternative emerging blockchain networks are also doing a good job of fixing the micro-flops found within the way of determining this trilemma.

Cc:- @nane15

Written by - @axone