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Hello everyone,
I'm very happy to participate in this week's lecture mentored by our great crypto-professor @alphafx in behalf of our wonderful #cryptoacademy.
This post will focuses on the homework task given by our crypto-professor. They includes:

• Make a transaction on Binance smart contract and Tron blockchain. You can choose any token
• Show the time taken for each of the transaction to be verified.
• Compare the scalability and compare the speed of the two with BTC.
• What can be done to improve the scalability of the Blockchain technology.

MAKE A TRANSACTION ON BINANCE SMART CONTRACT AND TRON BLOCKCHAIN. (YOU CAN CHOOSE ANY TOKEN).

I will make two serious and separate transactions. One from the Tron blockchain while the other From Binance smart contract app.

TRANSACTION FROM TRON BLOCKCHAIN

STEP ONE

My Wallets on Tronlink pro App

As shown above, this is my wallet on the Tronlink pro App. I have several tokens in my investment portfolios here.
I will sell my trx to get USDT. USDT is a stablecoin. It's important now that the price of coins are dipping down. I then click on Trade.

STEP TWO

As shown above, Tronlink pro app will transfer the transaction to a more proficient platform called Poloni Dex. With several details of the trade to input and my password on the app to initiate the transaction.

STEP THREE

As shown above, in the market, at 0.076tx, 17trx will give me 1.28USDT. then I clicked on "SELL TRX".

STEPS FOUR

Successfully, this is what I get. 1.28 USDT.

TRANSACTION ON BINANCE SMART CONTRACT APP.

In Binance App, I will trade my BTC with USDT. As shown above, I have 0.0008BTC To get 29.59 USDT .

SHOW THE TIME TAKEN FOR EACH OF THE TRANSACTION TO BE VERIFIED.

TRANSACTION DETAILS OF THE TRON BLOCKCHAIN

As shown above, my main concern is on the #block size, which is 30493915 and the TIME TAKEN to be verified is 2Mins 38sec.

TRANSACTION DETAILS

As shown above, the transaction details of the trade involves the gas fee which is 0.00007158BNB and the TIME TAKEN was less than one secs to be verified.

Compare the scalability and compare the speed of the two with BTC.

In the Tron blockchain, just like the Bitcoin scalability, it's comes with huge block size and the time taken is very high too. It involves the consumption of huge energy 149,180 for the block to be verified.

WHILE
In Binance smart contract app, Just like Ethereum technology involves the transaction fee called the gas fee and the time taken is very reduced but can be hampered or clogged when transaction happened at same time since it moves in loops. This transaction is only for those that have gas fee, if not it's can't trade in this technology.

WHEN COMPARED WITH BITCOIN.

There's a huge similarities between the Tron blockchain and the Bitcoin Technology in terms of:

• Block size
• Time taken which is more than a second.
• There's no gas fee.
  WHILE
  When compared with #binance smart contract. There's:
• Gas fee which is not obtainable in Bitcoin Technology.
• Reduced time taken.
• Moves in forms of loops because it keeps repeating.

What can be done to improve the scalability of the Blockchain technology.

When compared with Visa and other centralized financial platform, more improvement in scalability of the Blockchain technology should be encouraged in these ways.

• Faster blockchain like Nano. This is achieved by "account-chain" in which the users are involved in the verification thereby decongesting the high traffic on the Blockchain technology.
• Sharding: this is sub-dividing the "whole" Technology into smaller components called "shards" with the purpose of improving it's scalability and verification of blocks. It was first applied in Ethereum technology with great results in speed and it's principles can still applies in other blockchain technologies.

CONCLUSION

Verification of blocks should be Decentralized and very faster in blockchain technology with the "younger brother" Cryptocurrencies. Since this modern financial means assumed to be the future. There are many improvement to be witnessed.