RE: Steemit Crypto Academy Contest Season 8 Week 1 -The Importance Of Blockchain Technology
I enjoy reading from you dearest friend, as you tend to always put quality time and effort into sharing interesting contents with us.
You have highlighted some of the main issues facing the blockcain innovation, and I agree with you. From scalability, regulation to security.
Too much energy consumption is what has made blockchain technology not very scalable (not able to offer security, fast transaction and every at one without breaking).
Although we have seen potential solutions like sharding which allows for nodes to be split into different shards, and allowing each shard to process transactions separately.
This increases the throughput of the entire network and reduces congestion.
I must commend your time and effort dear brother, and equally wishing you goodluck this contest.
Thank you for reading blog and also for the additional insight with the problem associated with the scalability of the blockchain technology. Which is due to the much consumption of power. Lastly, with the sharding of nodes which allows nodes to be split in order for a more faster and secure transactions is very good thing for one to know. This is really helpful dear brother, all the best.