Contest Alert! The Crypto Quiz

Assalam O Alaikum

Hello Steemians! How are you all? Well come to my post. I hope that you will be doing well by the grace of Almighty Allah. I'm also fine and enjoying my day. Today I'm here to participate in this amazing contest which is organized by @steemdoctor1 in the Steem4bloggers community. The topic is about "The Crypto Quiz". So let's start the task.

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What is scalability of Blockchain technology?

Friends as we all know that the Blockchain technology is the technology which based on the decentralized network and perform peer to peer network transactions. With the help of Blockchain technology the users can do transactions without any central authority. If we talk about the scalability of Blockchain technology then it is the ability of a Blockchain technology to handle a large number of transactions within the network and perform them quickly and efficiently.

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We can compare the scalability of a Blockchain with a long road and as we know that on the road there is a huge traffic and the lanes of the road manage the traffic without getting congested the cars with each other. The scalability of a Blockchain also works same like that. The Blockchain technology is used by the millions of people in the world but they trust on that Blockchain network which has a strong scalability.

The scalability of a Blockchain technology is control by the layer 1 and layer 2 of the Blockchain and the layer 1 is the basic layer which contains the roots and basic information of the Blockchain technology. While the layer 2 is build over the Layer 1 to improve the further scalability of Blockchain technology.

Tell us about the transparency of Blockchain technology.

Ooh well!! The transparency is the most important feature of a Blockchain network because that feature holds the trust of Blockchain users. As we know that in a Blockchain technology all the transactions are recorded online and they are easily accessible to all the users and it can't be changed. Thus anyone can verify and can see the transactions within the Blockchain so the transparency is a key factor to establish trust and accountability among the users.

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If any of Blockchain technology is lacking in transparency then I don't think that it can get more traffic of transactions and more users to use that platform. This factor of Blockchain technology is make it more useful and helpful to do a large number of transactions in different industries like management, financial services and many others. That all was about the transparency of a Blockchain technology.

How security of Blockchain play a vital role in its growth?

The security of a Blockchain technology has a great role in its growth as the decentralized nature of Blockchain technology make it more secure and reliable for the people. The Blockchain technology use advanced cryptographic techniques to record the transactions publicly which make them more secure and due to that techniques the third parties can't temper with the transactions and data which is stored in the Blockchain technology.

More ever the the use of algorithm consensus within the Blockchain make the transactions more secure and reduce the chances of frauds. So in results that type of security features gain the trust of people and can make a Blockchain technology more successful and boosts it growth.

So friends that was my entry about that topic and I hope that you will like it. Now it is a time to say goodbye to everyone and I want to invite my friends @jannat12, @shabbir86 and @pea07 to take a part in this amazing contest.

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Written by @abdullahw2

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Thanks All ❤️

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