It was a beautiful lecture and it drew my attention about the scalability system and improvements that has been done and needs to be done, it was a very interesting lecture and I hope my answers to the homework post interests you to

I am @kelechisamuel and this is my homework post for @alphafx

source

Make a transaction on the Binance smart Chain and Tron blockchain and Show the time taken for each transaction to be verified (original screenshots must be included)

Tron Block Chain Transaction

For this homework post, I will be making a transaction first from the Tron block chain to my binance wallet account in which I will be sending 50Trn

• I opened the tron wallet and clicked on send Tron, which opened up the next page showing or requesting for a receiving address

• I opened the my binance wallet and clicked on receive asset , also clicked on Tron which opened up this page showing the receiving address of the Tron

• I Imputed the copied Tron address from binanceand pasted on the tron wallet and clicked on send , this will open you up to a confirmation page as we can see below. Requesting for a confirmation of the transfer of 50tron to my binance account

• After I clicked confirm, it requested for my password to be sure I have verified the transaction. So I imputed my password and clicked on done

• Below is a confirmation receipt of my transfer indicating that I transferred 50tron to my binance account by exactly 13:13 pm or 1:13

• In about 1minute by 13:14 or 1:14pm the transaction was received in my binance wallet and the evidence is seen in my screenshot below

Binance Smart Chain transaction

In this case, I will be making a transaction from my binance wallet to my trust wallet still using Tron but sending a lesser amount than before

• First I will be opening my trust wallet to get the address of my Tron asset under trust wallet which we can see below

• Then I opened my binance wallet clicked on withdraw asset , in this case I will be making a withdrawal of 35trx to my trust wallet in which the address has been pasted already.

• The transaction fee for this transaction will be 1trx which will be deducted from 35trx so I will be expecting 34trx in my trust wallet. After filling the details, click on withdraw

• After Clicking on withdraw, the next stage is the confirmation stage which is also followed by an OTP , unfortunately, the OTP page doesn't permit screenshot

• Awaiting approval, in some cases depending on the complexity of the transaction, approval can take hours but not more than 12hours as indicated below

• From the screenshot below, we can see that as at exactly 1:30 pm my withdrawal approval was granted and we await a deposit on the trust wallet

• From my screenshot of the trust wallet, it took about 2mins time from 1:30pm -1:32pm for the transaction to reflect in the trust wallet and we can see a deposit of 34trx after a transaction fee of 1trx

SUMMARY OF BOTH TRANSACTION

1. Speed
Comparing the two transactions, we can see that the Tron wallet transaction came in faster in about 1min while that on binance took an approximation of about 2mins with this speed it places Tron at a speed almost equal to those of pay pal etc

2. Transaction fee
As we can see above the Tron transaction was carried out free of charge and this is an advantage as you can send Tron anywhere in the world for free unlike the binance with a transaction fee of 1Trx

Compare the scalability and speed of the two against BTC

WHAT IS BTC SCALABILITY PROBLEM
BTC Scalability problem refers the inability of Bitcoin to manage large amount of transactions within a short space of time with a transaction size of about a maximum of 7transactions per sec

Comparing BTC, TRON, and BINANCE BLOCK CHAIN

• PRICE
  Transactions are run on the Bitcoin nodes although it's quite cheap and many little devices can go about it but the stress of mining and the need for each node to stay up to date reduces the capacity per time
  For example; if there are limited copies of a book in a book store and everyone wants that book definitely the price of the book will go high. In the same vain when there are many users attempting to make a transaction that requires mining users pay higher per time to ensure their transactions are carried out which is One of the reasons the transaction fee of Bitcoin is higher when compared to Tron and binance with Tron who runs on bandwidth and energy that can be easily organized in a case of shortage by freezing more trons to buy energy and bandwidth and binance who run on a centralized exchange system collecting a token for their transactions

• SPEED
  Definitely it is evidential that the Tron network and binance exchange is faster than the BTC , one may ask why can't Bitcoin just increase their speed and throughput, but honestly if Bitcoin were to be a centralized platform it would have been easier to carry out but Bitcoin requires a large number of participants to synchronize a copy of the block chain which is a limiting factor to growing their capacity and handling more transactions per day
  On the other hand, Tron manages a through put of about 2000TPS which is very much faster when compared to 4-7TPS of bitcoin
  As of binance I can't really say how many throughput or TPS it has but as a centralized it could be compared to Visa who runs with about 1500TPS Throughput

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

We have been able to learn about the Tron , btc and binance smart chain scalability below I will be discussing some solutions I feel can be made

• PAYMENT OPTIONS
  A payment option using a smart contract can be created enabling users make transactions without pushing it to the block chain. This will aid the block chain not to be swollen due to excessive transactions

• Sharding
  The process of sharding is the act of breaking down the block chain into smaller units called shards this shards run simultaneously with the transactions ensuring high speed and a better output within the group

CONCLUSION:

Scalability has been an issue in the block chain System and although there is improvement with the technological increase but there is still room for more

I sincerely thank@alphafx for bringing me into this light

Cc:
@alphafx