Crypto Academy Week 15 - Homework Post for @alphafx|| Blockchain Scalability – A Comparison Between Bitcoin, BSC and Tron Networks

Hi everyone every and hello professor @alphafx, thanks so much for the lecture and taking your time to explain extensively on the Blockchain scalability as well as another opportunity to participate in yet another Home task, which I would carefully analysis below.

Blockchain Scalability

I would simply describe this as a situation in which the blockchain process several transactions as well as confirm these transactions in the shortest time frame possible without errors regardless of the number of users carrying out their various transactions at a time.

I would also describe Blockchain scalability as a process whereby the blockchain accepts numerous transaction based on demands without any form of lagging, and to quantify how scalable a Network is, it is measured by the number of successful transactions it's completes in the shortest time possible, meanwhile due to the increase in the usage of blockchain technology the scalability as process is one in which new projects are trying to achieve in order to increase the efficiency of their various platforms, bearing in mind that various platforms has their individual levels of scalability.

Take for instance, a blockchain platform that uses 5 seconds to process up to 50 transaction is much more scalable than a platform that uses 5 seconds to process just 30 transaction, and these are major factors to consider in knowing a platform which is more scalable, and scalable in this sense means efficiency in output that leads to better productivity of a platform.

Binance smart chain Transaction done by me

Firstly you must bear in mind that you can use any token of your choice, but I will be trading the BUSD(Binance USD) Bep20 token as against the Binance smart chain BNB, and in order to achieve this, I would make use of the PancakeSwaps Exchange platform through my Trust wallet app.

The current price of the BUSD in the coin-market cap is $1

Then I go straight to the PancakeSwaps platform

Having arrived on the above page, I selected the token I wish to trade to BNB, remember I said earlier that you can trade any token of your choice which you have available, but for the sake did this homework task the BUSD I mentioned earlier is my choice token.

I was required to approve transaction as seen on the screenshot, which I did by clicking the approve button

Then next I clicked swap on this page

Then the next page bring about the "confirm swap" button which I clicked on to process the transaction

Having followed all the steps, the transaction was made and total time time was about 3 seconds.

Transaction on the TRON Blockchain

I would be making a transaction on the TRON blockchain by transferring some Trons from my account to another account, using the Trustwallet application on my mobile phone, and you can either download the Trustwallet application for the Playstore using an android device or Applestore on an iOS device.

The token representation for the Tron token is the TRX, and will be showing the transaction details screenshot below.

Now the above is the first page of my Trust wallet and as you can see the TRON is at the top because I have more of TRON tokens in my wallet.

in order to carry out the transfer, I had to click on the TRON icon from the first page, then it brought me here, where you can see the "Send" "Receive" "Copy" & "More" icon, so I just click on send.

Then it brings me to this page and all I have to do is input the Tron address I wish to send some Trons to, which you can see below.

And having done that it's took just about 3 seconds to finish the transaction of 2 Trons which I would say was super fast.

And afterwards as you can see my balance has reduced due to the 2 Tron I sent as well as the Network fees charged.

Comparing the Scalability and speed of the two against BTC

Knowing the Bitcoin transaction time of 10 minutes, is nothing to be compared to the flawless 3 seconds transaction of bothe the TRON and BSC platform.
The TRX and BSC are amongst the most popularly used platforms in the blockchain world which have the presence of smart contracts as well as the ability to hold large tokens which is quite not the case the BTC.

For me the Scalability of the TRX & BSC as opposed to the BTC, is totally and incredibly outstanding, and while the BTC can barely handle 7 transactions per seconds, the BSC handles 57.8 transactions per seconds, and the Tron handles up to a whooping 2000 transaction per seconds which I would say is quite amazing.

What I Think Can be done to Improve the Scalability of these three "BSC, TRON & BTC"

TRON

Though Tron still remains one of the best scalable platform in the world doing up to 2000 transactions per seconds, but they can do much better even over doubled this transaction speed by seconds, and shouldn't relent at being amongst the best, because other platforms are also working hard to improve as well and could most likely break their record and beyond in the nearest future.

BSC

Though the Binance smart chain are doing great at the moment, the platform still have some delays at some point, and this I know having done several transactions on the platform, and I would recommend they improve more on their scalability efficiency to decrease competition with other platforms but to stand out as a unique platform which can conclude multiple transactions in very little time frame.

BTC

Bitcoin I would say is like a classic amongst other tokens, and has done a great job in bringing more light to the blockchain world, and in such manner still stands out with its uniqueness, as well as a milestone in which other choice to improve on, so I would personally suggest, the scalability of BTC is fair but can do better.

In Conclusion

The BTC has played a really important role to the better of the blockchain and the crypto world, and as a result brought about series of improvement to other platforms, and I believe the improvement on the Scalability of the various platforms, will not only make transaction seemlessly but also more efficient.

Cheers