Crypto Academy Week 15 - Homework Post for [@alphafx]. Scalability and Improvements

in SteemitCryptoAcademy4 years ago (edited)

Hello

To all my stemian friends I hope that you are all will be fine and enjoying your good health with the grace of God.I am also fine and well.
Today I am here for the post of @alphafx .I read all the lecture carefully.It is very interesting and informative for everyone in this great community.

20210530_063305.jpg

So lets start..
Here the professor ask some question.Here I have described their answers in detail.

Make a transaction on the Binance smart Chain and Tron blockchain (you can use any token).

As the professor asked to make the transactions from to tranding exchange platforms.So I select these following platforms:

  • TronLink pro
  • Binance
  • FTX pro

In the same way, I will tell you the whole process with the help of steps here.

1st Step

In the first step I simply open the TronLink pro application.Let see the in screenshot..

iMarkup_20210528_223344.jpg

Step 2

In the step two I am going to transfer TRX to the TronLink pro into Binance.
So I simply open the transfer option which can easily search in the send option.let see in picture.

iMarkup_20210528_232522.jpg

And after click the sendoption the next page opened.

iMarkup_20210528_232816.jpg

After that I put here the Id of the my Binance account I I wants to transfer my TRXs (trons).

iMarkup_20210528_233440.jpg

  • Note
    I edit all the screenshot which I take from the TronLink here the source.
    Source

Then they asks about the Confirmation for sending our TRX to the Binance account and here I click the Confirm option.Here I transfer the 5 TRXs to the Bunance account.

3rd Step

We must transferring the TRXs to the binance account.Now here I am the TRX at the 8:36 pm.Here I note the time,How long does it take for the transaction to check?

iMarkup_20210528_234116.jpg

Step 4

In this step we simply open the our Binance application and check that the notification of recieve the TRXs.
So I apen the Binance but the notification late for 1min lets see in these screenshots.

iMarkup_20210529_084057.jpg

Now at the 8:38 pm the notification of the recieving of the TRX rang.Then I quikly chek my Binance account and refresh and so the in the 8:38 pm the TRXs were added in my wallet.There was a gap of 2 minutes of transaction from TronLink to Binance of the TRXs.
Let see in picture.

iMarkup_20210529_084923.jpg

Step 5

After the whole process I want to check it in my history of the transaction so I simply open the history of the Binance.
Let see in picture.

iMarkup_20210529_090753.jpg

  • Note
    I edit all the screenshots which are taken from the Binance here is the source of Binance app.
    Source

Transaction from FTX

FTX is also a best exchange platform for the cryptocurrency.So now I use it for the second transaction from Binance to FTX.It is very simple that transfer the TRXs from Binance to FTX.
The procedure I describe here..
I simply open my FTX account wallet and here you can see that I have total 0 mount of Tron(TRX).

iMarkup_20210529_110731.jpg

Because I want to transfer the TRXs from Binance to FTX so I simply open the my Binance account and transfer TRX in that way.

iMarkup_20210529_115110.jpg
So now in this page we just paste here the id of account where we want to send the currency.
We can also scan here the QR code instead of the ID link.
After that we simply write here the amount which we want to send. So here I put the 5 TRX ,It is very smal amount but it just for the trail for me.
So then I successfully sent the 5 TRX to my Binance account.And then I want to notice the time.So I sent it at 9:25 pm.

iMarkup_20210529_115715.jpg

After that I quickly open my binance app and chekmy wallet. Amount recieved at 9:28 pm.
Let see in picture.

iMarkup_20210529_120254.jpg

After that I open the FTX account to check the wether the TRX are recirve.So I quiqly open the FTX.
If we notice the time consuming for sending
iMarkup_20210529_121608.jpg

The transaction on the binance is slow than the transaction on TFX,it takes almost 2 minutes but in the other hand the transaction from TFX to Binance is more fast it take almost 1 minute.

3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeFGHg4aXRoSVKBjAah2jfmhpobj1ieDNV9hazM4y1pgK3cN2fQ3NkvnE8p4sNkk847PojWAMt.png

(Compare the scalability and speed of the two against BTC)

If we talk about transfer to a crypto currency exchange platforms then we can gues about our experiments.In the experiments the speed of transaction of the tronLink is higher than the Binance and both of these have the lower speed than the BTC.BTC is a huge and quick platform for transaction all the currencies.
The transaction of the TronLink is fast.So its scalability is very high in the form of price and speed of transaction.
So now we compare these exchang platform with the BTC one by one.

Tron and BTC

Here we will talk about the scalability of these two corrupt currencies. So lets start..

TronBTC
Tron consist of the decentralized blochchain's platform which have the innate currency which is called TRX.BTC is a very popular crypto currency and it is also a decentralized blochain and it does not based upon the banks.
Tron have the world highest speed of transaction of the Cryptocurrency.It have also the high speed of transaction but less than from Tron.
The scalability of the Tron is almost 2000 transaction per one 1 second.The scalability of the BTC is almost 1700 per second.It is low than Tron.
  • Knowing all this, we can guess that the Tron is better than BTC on the base of transaction in per second.And so the users can maintain and decrease their waste of time to use Tron for the transactional prosesses.The BTC is also such a great platform.So everyone have their own capabilities,we can not say anyone wrong and cheap.
    After that I am goin to talk about the BTC and Binance.
    Here I compare them..
BinanceBTC
It is very popular and it used in the world at the highest level.It is also a fomus Cryptocurrency but it less used from the Binance.
The scalability of the binance exchange is more fast.The scalability for the transaction is good but mess than the binance.
As we noticed the time consume for the transaction in binance is about 2.3 minute.It runs 6-7 transaction ler second.

Because we have read all aspects of them by vote, we can analyze that the Binance has the more scalability of transaction than the BTC and It becomes the largest platform for trading.

3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeFGHg4aXRoSVKBjAah2jfmhpobj1ieDNV9hazM4y1pgK3cN2fQ3NkvnE8p4sNkk847PojWAMt.png

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

As we have talked about some of the cryptocurrency platforms above So we must have got some idea about the scalability for them.The BTC has less scalability from the Tron and Binance platform.So there are some flaws that can be improved if we fix them.And here we will talk about how to fix these flaws.
Let start...

Binance

As we know, in the world of cryptocurrency, Binance is a good and standard and also the most used exchange platform in the world.The number of users is increasing day by day.It is very important to include member in Binance exchange.And in the same way, if any mistake is made in understanding, the user has to face trouble.So we have to make a change in the Binance that If a user makes a mistake in their transcription, their money can be recovered.That way, it will be a big step forward.
Now we talk about the Tron.

Tron

Tron is a very important blockchain platform with local currency is TRX.Its scalability of transaction is about 2 thousand per second.It is really a great thing.In the same way, he also got a lot of fame.We can creat P2P channels to make the deals with the users which do the transaction so it will really a great work for the many users in this platform.
Similarly, by using this platform, all users can increase their conversions with the fastest speed of transaction.

BTC

Bitcoin is very popular in the world of cryptocurrency.This is because of its reputation, its quality and its transaction methods are very good.It was created in 2009 and this was the first digital coin in the whole world.As soon as he saw it, he got a lot of progress and fame as compare to other cryptocurrencies.It has less scalability than the Tron and the Binance exchange platforms.So there are some mistakes if we can avoid this and make it possible to change the some mistake of platform then we can be use this platform any time and everywhere.If we talk about its time for transaction so it take almost 10 minute for the transaction of coin or asset to one account to another account which is not be tolarable for the traders of this era.The new traders wants a plateform which provides them a high speed of transaction because If they need money quickly, they can withdraw it from their account as soon as possible.This is really a great thing.Beacuse in future every trader want the fastest speed of transaction from one account to another account.

3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeFGHg4aXRoSVKBjAah2jfmhpobj1ieDNV9hazM4y1pgK3cN2fQ3NkvnE8p4sNkk847PojWAMt.png

Conclusion

Scalability is a power that is needed to transaction of any platform or blockchain.So as the experience the Tron has the more scalability from the BTC.Because we had compare the Tron and BTC in details above.And the Binance has the more scalability of transaction from the BTC.So un the result the BTC has less Scalability from both of these crypto exchan platforms.And I also work for the correction of these some platforms that is very essential for every one.Every person should be take a part to give its guesses about it. SO HERe we take the great knowledge about these platform.

3W72119s5BjVs3Hye1oHX44R9EcpQD5C9xXzj68nJaq3CeFGHg4aXRoSVKBjAah2jfmhpobj1ieDNV9hazM4y1pgK3cN2fQ3NkvnE8p4sNkk847PojWAMt.png

Special Thanks

@alphafx

Regards

@numanfarooq7677

Sort:  

unfortunately, the two transactions you presented are on the Tron blockchain. You must note that the Binance Exchange and the Binance smart chain are two different concepts.

It will be nice if you look them up.

ParameterScore
transactions1/3
comparison1.5/2
solutions1/3
presentation2/2
___________________________
Total5.5

Thanks for participating

Thanks a lot
I will work harder next time.

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