why scalability is so important for blockchian?

[weidex]

hey guys, why do you think scalability is so important for blockchian?

[crwth]

This is from the top of my head only.

The reason why scalability is essential because the more people that use it, the more it could scale to the right capacity towards what it could handle. I think the increasing number of users of a particular cryptocurrency with scalability properties would be beneficial for the users themselves unlike without scalability and just a constant value that could be overloaded or something like that.

That's just my understanding about it.

[ishirut009]

hey guys, why do you think scalability is so important for blockchian?

scalability is very very important in the blockchain because scalability affects the transaction speed when sending money to other wallet. Scalability also serves as the basis if a coin/token can handle massive adoption.

[thiscomm]

that's the reason why now the blockchain is so famous that even now there are a lot of people who use bolckchain as a program for most banks there. the blockchain is a scalable will be a clue that the system is clear and secure. because on the blockchain program all the processes of sending or receiving are actually recorded by the server. nothing is missed. they record it using a code that only the sender and recipient can have so that it is unknown to others.

[asriloni]

hey guys, why do you think scalability is so important for blockchian?

It's important caused by the scability of the blockchain will help the adoption to the blockchain itself, imagine if the blockchain has low scalability and then people will get a high txfees and very long time to be approved by the block. The scalability is really important.
it can be used for the different purpose like built or created dapps too. it has so many advantages.

[JNR]

hey guys, why do you think scalability is so important for blockchian?

scalability is very very important in the blockchain because scalability affects the transaction speed when sending money to other wallet. Scalability also serves as the basis if a coin/token can handle massive adoption.

also with scalability a blockchain can make a lot of transactions per second
thats why scalability is very important on blockchain technology

[bigcash2011]

It is simple, without scalability and efficiency of the blockchain network the mass adoption can only remain a dream but if the top networks achieve the much required scalability then mass adoption can be a reality sooner than expected like ethereum is rapidly working on improvements and upgrades to get rid of scalability issues which is the need of the hour and great for its growth too.

[rosezionjohn]

Well, it's an important factor for mass adoption. An individual would not want to wait for hours before his/her $10 payment gets processed on the blockchain. Most people now wants convenience and wants things to be done fast.

[Delilonia1]

hey guys, why do you think scalability is so important for blockchian?

Scalability is highly important in block chain as it's very instrumental when large amount of data needs to be handled and the system has to adapt to the demand of various users.  So if a system is not scalable, it becomes really difficult for users and things will get really complicated

[jacafbiz]

Why scalability is very important, let me paste this picture to you, do you expect a chair that supports a toddler to support a grown man. If a blockchain projects solve the scalability issue more apps would move to the chain and we are going to have a world adoption and also a cheaper transaction

[lolgato1]

Because if you would like to make it adopted for everyday use, you need high TPS (transaction per second rate).
You will not use something that is so slow, right?

[hihelen]

Remember crypto kitties on the eth. Eth blockchain almost stopped because of the small app. That is why scalability is very important especially for the blockchains with smart contracts.

Funny thing is that ETH was clogged because of such a useless application. When will we see something really substantial clogging the network? I think scalability, for now, is more than enough. We need to focus on real implementation maybe, rather than scalability that no one needs for now.

[dataispower]

One of the reasons why some mainstream businesses are yet to adopt blockchain technology is due to scalability drawbacks. Imagine having a network clog when the business expands, it will for sure lead to negative feedback from clients. Prominent blockchain architectures like EOS have promised to curb this, but sincerely there is more work to be done. Hence it's obvious that scalability is extremely important for blockchain.   

[btccrusher]

Becasue adoption requires scalability. If a blockchain never becomes fairly scalable, we will never see the adoption. Without doing so, it is impossible to achieve the original goal of Bitcoin and decentralization. We want a transparent, borderless currency without any centralized power. That's why it's important.

[Perfect35]

Sometimes when the network get overcrowded and to avoid slow transaction and high fee, scalability is highly needed. This is very essential on blockchain platforms with smart contracts, such as ethereum. Most importantly, ethereum needs to be upgraded and be made scalable.

[Red-Apple]

scalability on its own is not important at all otherwise a lot of altcoins would have been worth $1 million per coin already!

what matters is scalability alongside decentralization. which happens to be the main reason why those altcoins are failing instead of rising in value.
the importance is that we already have payment systems that can handle thousands of transactions per second. example of which is Visa or Paypal,... but we only have one decentralized solution and it remains that way by having certain limitations because it is a sacrifice. you can't gain decentralization and not give up something else.

[weidex]

Because every blockchain network should be able to operate even with huge amount of users. And I am not seeing this case, because major networks as ETH, BTC, LTC, BCH are sometimes overwhelmed because of the huge amount of users.

Yeah, I've got your point - we saw what happened with cryptokitties.

[weidex]

Sometimes when the network get overcrowded and to avoid slow transaction and high fee, scalability is highly needed. This is very essential on blockchain platforms with smart contracts, such as ethereum. Most importantly, ethereum needs to be upgraded and be made scalable.

Yes but there are a lot of options to consider if you need scalability – state channels, plasma, zk-snarks…

[nanaimogold]

hey guys, why do you think scalability is so important for blockchian?

Speed and accuracy is one of the core concepts of technology. Blockchain technology is very important to the financial sector and as such have millions of people willing to learn and transact on it daily, this influx calls for optimum speed to reduce operational drudgery and thus that's the need for high blockchain scalability.

[aeternity]

scalability on its own is not important at all otherwise a lot of altcoins would have been worth $1 million per coin already!

what matters is scalability alongside decentralization. which happens to be the main reason why those altcoins are failing instead of rising in value.
the importance is that we already have payment systems that can handle thousands of transactions per second. example of which is Visa or Paypal,... but we only have one decentralized solution and it remains that way by having certain limitations because it is a sacrifice. you can't gain decentralization and not give up something else.

Totally agreed! Many crypto projects are compromising the decentralization aspect to follow the scalability hype but those shouldn't be called blockchains at all... Decentralization is the most important characteristic of a blockchain but, on the other hand, scalability is essential for blockchains to achieve mass adoption.

æternity, for instance, succeeds in remaining decentralized while achieving comparably good scalability thanks to the Bitcoin-NG consensus mechanism. Additionally, like many others, we've come to the conclusion that some operations don't need to be executed on-chain. æternity's off-chain solution - the first-ever protocol-integrated state channels - offer the same level of security and privacy as on the chain, plus the possibility to transact with practically no limits or fees.

Best,
The AE Team