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RE: Steemit Crypto Academy Contest / S8W1 - The Importance Of Blockchain Technology

in SteemitCryptoAcademy2 years ago

Another interesting and excellent content from you friend.

From the points you have raised, security, scalability, power consumption, and regulations have been among the most challenging issues faced by this innovation called blockchain.

I completely agree with you mate, and it's equally great to see that potential solutions have been presented to solve some of this issues.

One of the biggest solutions that comes in mind when talking about the issue of scalability is the implementation of sidechains and off-chain solutions involve processing transactions outside of the blockchain network itself.

This can be done using payment channels such as Lightning Network, allowing users to send and receive payments instantaneously without having to wait for a transaction to be processed on the main chain.

Generally, you have delivered excellent in this content dear friend, and I appreciate your time and effort in creating quality and educative articles.

Thanks for sharing and goodluck in this contest.

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Thank you my dear friend for reading my content and sharing valuable feedback. 💕 I always try my best to deliver quality content :)

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