What's blockchain scalability.....#003
It's a good and wonderful day again and today I will like to dive more into it he topic blockchain scalability.
On the last article I talked about the importance of scalability to blockchain network, ofcourse we know that scalability offers or is of great importance to blockchain network.
Today I will like us to look more into other things, I will like to talk about other things which are also of importance to blockchain technology as important as scalability is to blockchain it is not the only thing that is of importance to blockchain, so I will like us to talk about things that are a necessity to blockchain other than scalability.
Is Scalability The Only Need Of A Blockchain
Yes scalability is very crucial to blockchain and very necessary nevertheless, it is not the only need of a blockchain as there are other needs a blockchain has for it to be able to satisfy it's various and to be versatile as it should be, below I will list out some of this needs:
1) Security: Security is integral key in blockchain, as it offers the blockchain with its robust cryptographic mechanisms and also also provides it with measures which help to prevent access to individuals who are not authorized as well as fraud or hacking, so security is a basic need of blockchain technology as the needs to be secured for it to retain some measure of integrity.
2) Decentralization: Another important feature or blockchain need is decentralization. Why is decentralization important? Decentralization is important as it means no single entity or group has absolute control of the system as there is even distribution of nodes among computers which means no one entity has control further strengthening security and ensuring trust in the system.
3) Immutability: Immutability of blockchain, a blockchain needs to maintain immutability which means that data recorded on the blockchain must be unchangeable once it has been recorded, it cannot not be deleted or edited or adjusted it must be unchangeable to ensure transparency and trust in the information recorded.
4) Transparency: Transparency is another blockchain need because it offers trust and a measure of accountability, when users know they have access to and can verify all the blockchain transactions it gives them or allow for the users to have a measure of trust in the blockchain system.
5) Interoperability: Interoperability allows applications to communicate in a coordinated way in this instance the ability of a blockchain network to communicate and connect with other networks, this is vital as it helps for mass adoption of the blockchain system when such system is Interoperable.
Conclusion
Indeed a blockchain is a highly sophisticated technology and not surprising that it needs all this various things amongst others to function perfectly. Thanks for reading through.
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