Blockchain Trilemma---#002

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Happy to be writing on this, on the first part talked about what trillema really means when we say it's an issue for blockchain network in a way all could clearly grasp.

Also talked about the general issues which is decentralization, scalability and security from here on we will be diving deep into the blockchain trillema and maybe possible solutions to the trillema problem facing blockchain system.

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Does The Blockchain Trilemma Really Exist

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Well some often wonder if this problem really exist, well it does.

The fact that blockchain over the years has not been able to feature all three of decentralization, scalability and security at the same time is an issue because if it has then we would have a perfect blockchain I believe because all three of this features is crucial for the smooth running and integrity of the blockchain system.

True recently there has been emergence of new chain which claims to have solved the trillema but the general mass hasn't been convinced of this fact, truth is some blockchain always sacrifice one feature of decentralization scalability or security.

Bitcoin for instance is ofcourse very secured and hence capable of withstanding a 51% coordinated attack and the bitcoin network is also highly decentralized but in other to achieve this two important features they sacrifice transaction speed which is scalability, so yes indeed the trillema truly do exist.

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Viable Solutions To The Blockchain Trilemma

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Layer-Two-Solutions: One viable way we can possibly hope to solve this trilemma is by introducing layer 2 solutions. This is because if lightening network is being introduced to chains like the bitcoin blockchain which is already secured and decentralized it will help it handle a lot more transactions off-chain which will increase it's volumes of transaction per second thereby improving it's scalability making it scalable, decentralized and secured at the same time.

Sharding: Sharding technique which functions by spliting the blockchain into small pieces or fragment it's another way or viable solution to solving the trillema. This is because this process helps to process transactions in parallel when divided into small fragments which is then able to improve on scalability while ensuring the chain still remains decentralized and secured.

Hybrid Approaches: The implementation of hybrid approach is also another way or viable option of solving the trillema as it combines different blockchain algorithm like, proof of work and proof of authority protocol per say with the aim of creating a platform where all three of decentralization, security and scalability can be accommodated for maximum optimization of the blockchain system.

Continual Research And Blockchain Development: Ofcourse learning never stops and it's in human nature to continue to look for alternative ways to make this better so surely continually researching for other suitable ways to solve the trillema which is easily implemented should be done so alot of chain could leverage on this for the development of blockchain network.

Conclusion

Ofcourse I am a firm believer that soon this trillema issue will be completely solved beyond all reasonable doubt, no surprise there as many chains are working effortlessly to this effect to ensure will ensure the full potential of a blockchain system.