Scalability and Improvements Made and Still to be made (By @alphafx)

It is a beautiful Monday and a new week for the Steemit Crypto Academy. I am always elated to be a part of the citadel of learning and I must appreciate the Steemit team and the professors for their time, effort, and resources to put this beautiful initiative in motion. It is week 15 and today, I will be writing a post with respect to @alphafx homework. The lecturer emphasized his teaching on Blockchain Scalability and Improvements, so without wasting time, I will begin the assignment.

Blockchain Scalability

The ability of a blockchain to accommodate and grow to perform transactions based on increasing demand without lagging. With the Blockchain, scalability is something that new projects are trying to meet coupled with the increased usage of blockchain technology and cryptocurrency. Bitcoin being the first cryptocurrency has grown exponentially in usage but still isn't scalable due to its block size and its consensus mechanism. Blockchains such as the Tron blockchain, Binance Chain, Eos Blockchain, and many more are built to handle a lot of transactions and in this post, I will be looking into two blockchains namely; Binance smart Chain, and Tron Blockchain.

Transaction on the Binance smart Chain (you can use any token)

To get this done, I will be trading Pig Finance token against BNB on the Binance Samart Chain and I will be using pancake swap as exchange. Pig Finance is a Binance Smart Chain (BSC) token listed on Coinmarketcap at the price of $0.0000003576. It is traded on Pancakeswap. In other to trade Pig to BNB, I visit the pancake exchange swap via trust wallet.

Arriving on pancakeswap.finance, I can select whatever coin available for trade on the exchange to be listed on the traded.

I will be swapping Pig Finance for BNB (BSC) so I click on the Pig Finance token since I have it already. Tokens can also be searched for using their smart contracts.

Click on Swap to trade the pairs. After clicking a pop-up showing the amount to recieve, transaction fee, price impact and liquidity provider fee.

After confirming the details of the trade, you confirm swap.

A network fee of $0.67 is charged for the transaction in BNB.

Trade is successfully completed and it is broadcasted to the Bianance Smart Chain.

Transaction on the Tron Blockchain (you can use any token)

For the Tron Blockchain transaction, I will be doing a transfer from an account to another on the Tron Blockchain. I will be using Tronlink mobile app. Tronlink exist in mobile applications on Apple devices, Android devices and as browser extention.

I am using an Android device and with that, I will using a android Appliction. To perform a transfer with the Tron blockchain, the token to be transfered should be identified, and in this case, it is TRX itself.

I will be transfering TRX to another TRX account on the Tron blockchain.

Tron blockchain transaction is almost immediately as it is performed in seconds.

Compare the scalability and speed of the two against BTC.

Tron and BSC can no doubt perform more transactions than Bitcoin at the shortest time possible. Compared to Bitcoin's 10 minute time for transaction, BSC and TRX perform transactions in seconds. Bitcoin isn't possible for smart contract or the ability to hold large numbers of transactions but TRX and BSC are one of the most used blockchain in the world as well as it allows people to build applications on them but this is not possible on the blockchain.

BTC can handle 7 transaction per seconds, Tron performs 2000 transaction per seconds and Binance Smart Chain 57.8 transactions per seconds source

What do you think can be done to improve the scalability of these three (BTC, Tron, Binance Smart Chain)

Binance can only increase its scalability if there is an increase in blocksize or the complete removal of signature. Personally, having Bitcoin at this speed gives it a level of uniqueness making it more of a security than a currency.

Binance Smart Chain is fast at the moment but then it still has a lot of congestion while performing transactions which usually delay transactions. This shows that Binance Smart Chain isn't as scalable as TRX.

TRX currenctly performs about 2000 transactions per seconds but it aims to increase it to 10000 per seconds. TRX is still one of the fastest and the most scalable blockchain in the world and it would still hold the title for a long time.

Conclusion

Proof of work (BTC) brought about the beauty of the blockchain and this made everyone wanted to be a part of it but then Delegated proof of Work (TRX) has no doubted being one of the fastest and scalable consensus algoritm. The Proof of Staked Authority (BSC) still need a lot of improvement with scalability.