Blockchain scalability
How are you all steemians? Hope you all are fine and I'm fine too Alhamdulillah by the grace of Allah Almighty. Today I am here to share my participation in the contest organized by khursheedanwar.
Blockchain scalability
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The blockchain scalability is very important in the field of blockchain technology. It concerns the ability of a network of the blockchain technology to control an increasing amount of the transections without any types of difficulties. As the network of the blockchain technology spread and further clients participate and the scalability issue becomes progressively crucial.The technology of blockchain with the decentralization nature provide security and transparency as contrast to the centralised nature. The block size limit in the network of blockchain also has impact on the scalability of the blockchain. The block size limit is the number of the transections that can be comprised in a block.
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The blockchain scalability is very important in the growth of the technology of blockchain. The scalability of the blockchain straight affect the speed of the transections in the network of blockchain. As the participants increase ,When the number of the transections increases and the speed of the transections also increases and we can say that they have directly proportional relation. This can be useful for the fastest transections.
The blockchain scalability has a close relationship with the network of the blockchain technology. In this network of the scalability, the fees for the process of transaction stays the lower even if the number of the transaction increases. This scalability blockchain technology can support and stabilise the process of the cost effective transactions , make the transactions easy and reachable.
We can improve the scalability of the blockchain technology by applying the layer 2 scaling solutions. The layer 2 networks are lightning and Raiden systems for the Bitcoin and Ethereum respectively. The application of the sharding is also important to improve the network technology of the scalability. It means to divide the blockchain technology into the smaller ones.The development and the progress in the algorithm can enhance the blockchain scalability.
I invite you to participate in the contest