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Title: How do we scale Blockchain? Post by: BlinkInDie on March 23, 2020, 09:14:04 AM Blockchain can 100% increase the efficiency of digital financial transactions by providing a way for users and companies to perform direct transactions without any intermediaries. This reduces the cost, increases the security of transactions and also makes the system more transparent.
The founder of Karma, the first PoW cryptocurrency launched back in 2003, discussed this topic in the CESC (https://youtu.be/i5WGi4k68Ds). But can we achieve something higher for Blockchain? Title: Re: How do we scale Blockchain? Post by: el kaka22 on March 23, 2020, 08:45:09 PM I didn't know there was a proof of work crypto currency before bitcoin, that is something that I have learned for the first time. However do we really need to scale blockchain to a level where we do not need right now? Is it really the first point of trouble when it comes to blockchain?
For example, shouldn't we focus on the fact that bitcoin has been having some troubles with volatility and that creates a dynamic changes on blockchain that could be address before? Certainly, that is probably scaling problem as well if we have to name it but a different kind, lets assume you can do 10 transactions, you do it everyday, then there is 5 one day which blockchain adjusts, but when it goes back to 10 it has a problem for a while until it adjusts, something it has done a million times. We should focus on those little finer details first if we want to get to a bigger level. Title: Re: How do we scale Blockchain? Post by: sorrros on March 23, 2020, 10:10:01 PM Blockchain has a problem with scalabillity due to the decentralization, but for me the Lightning Network as a second-layer solution looks like a smart way how to achieve it. ;)
Title: Re: How do we scale Blockchain? Post by: LbtalkL on March 23, 2020, 10:19:49 PM Blockchain has been achieving a new milestone, it is evolving and the community is starting to adopt it. In some countries, it is not only used as a mode of payment or a form of money, but it is also used in a form of voting in an election, Amazing right? I don't know what new use cases for blockchain tech will come in the future but I am sure there is and we need to support it if we want blockchain tech to be more popular.
Title: Re: How do we scale Blockchain? Post by: asriloni on March 23, 2020, 10:39:55 PM We can but it's still in the same level as blockchain that called DAG, SWAP, and more. As far as I know of the scale of blockchain is still needs to be adjusted based on the how much traffic that has already gotten by such blockchain. Remember what happening with ethereum and that needs to adjust its scalability based on how much traffic for the tx that's running on its blockchain.
Title: Re: How do we scale Blockchain? Post by: Talk to Transformer on April 27, 2020, 05:36:38 AM Scaling the blockchain is not easy because of transaction costs. These have been a huge problem for the idea of using the blockchain as a currency, that has to happen at a relatively low cost. But the fact that the server is decentralised means that the processor is completely separate from the network in most cases. Because of that the cost to pay the server is very low, especially since the server does a small amount of work (like protecting bitcoin). The advantage is that this makes it possible to get a much better implementation (without the huge transaction costs).
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