Blockchain Trilemma---#001

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When we talk about trilemma it often involves having to deal with three situations, that's 3 issues equally important that needs to be attended to.

Now when we mention about blockchain trillema we talk or refer to the puzzle or hurdle facing blockchain system, the fact of having a need to accomplish the 3 basic needs of a blockchain which has proven difficult for blockchain system today to accomplish all at once.

The 3 basic needs or problems facing blockchain system is being able to accomplish decentralization as well as security while being scalable, this has proven difficult to do synchronously.

While this has been difficult to achieve because most often in a bid to try to improve or achieve one of these the other suffer.

In an effort to achieve decentralization and scalability, security may need to be sacrificed. Or in an effort to achieve scalability and security, decentralization suffers. And in an effort to accomplish decentralization and security, scalability suffers as is the case with bitcoin blockchain. So this is the issue facing blockchain technology.

For it to be perfect then it has to be decentralization, secured and scalable.

Let's discuss about this 3 facets of blockchain system.

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Decentralization: When we talk about decentralization it entails making sure the nodes which participate in the blockchain network are evenly distributed. They are quite different from centralized network that has a central point where nodes are connected to making attacks very feasible or more prone to attack.

While a decentralized network is more resilient to attacks, as there's no single point of control unlike centralized platform, the only challenge is this often in an effort to accomplish highly decentralization it often means sacrificing network speed that's scalability.

Security: Security is one integral part of blockchain technology, it's very crucial as this helps to secure the data stored in the blockchain and ensures the integrity of the blockchain by making it resilient to attacks like the 51% attacks faced by blockchain which sacrifice security making it vulnerable and exposed. The only challenge to this is, when or for a blockchain to achieve top security of it's network it just like the case of decentralization involves sacrificing the scalability of the network.

Scalability: Stability, this term refers to speed, how fast a blockchain can process transactions, it's the rate blockchain technology can be able to process transactions, if a blockchain system is able to process as many or at least thousands of transactions every second then we know or could say it's scalable, ability to perform transactions at lightening speed like the trx blockchain which could perform 2,000 (TPS) and this often attract people to such a blockchain system as we crave for faster transactions.

The problem with this just like the others is the fact that often in other to achieve scalability some blockchain has to sacrifice decentralization or security if not the both

Conclusion

Ofcourse we are hoping for a blockchain system which accomplishes this three things and indeed hopefully things or rather adjustment has got to be made to this effect and we will see further about this in subsequent discussion