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Author Topic: Unlimited scalability?  (Read 207 times)
Abiky (OP)
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August 03, 2021, 02:30:07 PM
 #21

According to Vitalik Buterin, there are three main features: scalability, decentralisation and security, and all projects can have only two of them. And for sure, we have a scalable Binance Smart chain, Polygon, Solana but all of them are centralised.
But maybe Ethereum 2.0. will do something with it. As it promises to become more scalable, on the other hand a big part of validators are centralised exchanges like Kraken, so can we talk about decentralisation then?

Exactly. There needs to be a balance between decentralization and scalability for a cryptocurrency project to stand the test of time. Otherwise, it'll become a centralized "banking system" subject to manipulation, fraud, and corruption. Cryptocurrencies like XRP and Stellar are highly scalable "blockchains" but they're utterly centralized (especially XRP). Most people don't care about decentralization these days, so they'll use these kind of cryptocurrencies even if they experience huge losses in the long run. Convenience/ease-of-use goes on top of everything else these days. As long as people don't care about decentralization, centralized projects will only become bigger over time.

I believe "unlimited scalability" is possible considering how Blockchain tech is capable of processing thousands of TPS. But a cryptocurrency with such model will have to sacrifice decentralization/security/reliability in exchange for high performance & low costs. I'm fine with Bitcoin and Ethereum having their limitations as long as they remain decentralized and censorship-resistant. Just my opinion Smiley

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August 03, 2021, 03:19:23 PM
 #22

I think the trade off for decentralized secure network is the limited scalability.  The solution will be there when we have great number of projects that are fully decentralized,  catering for every conceivable human interaction from economics to e-commerce, real-estate  etc.  Users will have options on what coin to interact with for different purposes and Cryptocurrency can be said to have reached length and breath of the society.

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August 03, 2021, 04:00:04 PM
 #23

I think that's implied in almost every project. You'd naturally need a scalable blockchain to cater to your users' needs. So more users = more scalability. Solana, Harmony etc end goal (even Ethereum) must include this in one way or another, and there's no need to explicitly state it.
From my knowledge a new altcoin would not have unlimited stability until it has reached a steady user base which then it could develop on its stability because as you say you need scalability only for what your users need and with that being low at first it is not a consideration for the short term.
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