What's blockchain scalability.....#005

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It's a wonderful day indeed friends and I will like to continue from where I stopped last time on this important topic scalability as it regards blockchain technology.

I mean it's importance could easily be understood in normal activities of life, how would we want our day to day transactions to be if given the option swiftly or hours before completion.

Ofcourse we would all want to have swift transactions even in our daily transactions to save time and stress as no one want to have his transactions pending when it could be processed in a speed of light and we go about other activities.

Today I will continuing from where I stopped last that is what happens when a blockchain is not scalable the likely challenges the blockchain will experience.

Last time I stated some of this challenges and explained as it regards to blockchain so I will continue on that today.

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What happens When A Blockchain Is Not Scalable

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When a blockchain is not scalable it faces some of this issues below;

1) Dificulty in Onboarding New Users: When the blockchain is not scalable processing transactions becomes an issue and cost of transaction usually becomes high.

Now because of slow and high cost of transactions that results in this it often becomes very difficult for new users to join the blockchain as no one would want to experience slow transaction or high cost of transaction where there is another alternative.

So this becomes a challenge, this will make it very hard for such blockchain to gain mass adoption and this scalability issue will put a barrier to how far the blockchain will reach.

2) Inefficiency in Smart Contract Execution: Another issues a blockchain will face as a result of not being scalable is Inefficiency in smart contract execution, how do I mean?

When a blockchain is not scalable there is usually delays for smart contract which affects their functionality and depending on the complexity of the smart contract it may even be out of question to even consider it's execution on the blockchain.

3) Poor User Experience:With the various issues facing a blockchain that isn't scalable it will impact user's experience rather negatively.

The blockchain users will be dissatisfied with the nature and delivery of service and may eventually lose confidence in the blockchain out of frustration being experienced.

When the blockchain users are not satisfied with the service given by the blockchain this will reflect back on the blockchain tainting the blockchain's reputation in the process.

4) Reduced Privacy: Some blockchain due to the fustration of their users due to how transactions is handled and high cost of transaction they often seek for ways to improve scalability which at times means jeopardizing the decentralized nature of the blockchain.

Now when the blockchain is being controlled by a central entity it could lead to uses experiencing unauthorize access to their sensitive information.

When a blockchain loses any form of it decentralized nature it impact the users greatly as their privacy are being compromised which undermine the trust and integrity of such blockchain.

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Conclusion

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Blockchain scalability to me should be one of the top priority of any blockchain as there are many risk involved when a blockchain isn't scalable.

As I have highlighted in my previous post and on this this goes to show the important of scalability on a blockchain network, so every blockchain which isn't scalable should strive to improve on this in a way which doesn't undermine the blockchain security and decentralized nature either.