Blockchain scalability: challenges and solutions

The world of cryptocurrencies has seen a huge increase in recent years, while the rise of protocols of decentralized financial (Defi) and illegal tokens (NFT). However, one of the main challenges facing this industry is scalability. Blockchain technology, which promotes cryptomena, has limited capacity to process transactions at high speeds and volumes, preventing its acceptance and use.

Calls:

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• Transactive fees: High transaction fees may be discouraged by users from participating in the network, thereby reducing its overall acceptance and use.

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solutions:

• Sharding: Sharding is a technique that divides the blockchain into smaller, more manageable pieces called fragments. Each shard can work independently and processes transactions at high speeds.

• Outside chain transactions: Outside chain transactions refer to those that occur outside the blockchain network. Users can reduce the load on the blockchain and increase its scalability according to the off-chain.

• Balance storage mechanisms: Implementation of storage mechanisms in the cache such as Redis or Memcaged can help shorten the transaction times by storing frequently accessible data into memory.

• It uses a combination of the technology of a distributed book and intelligent contracts to increase transaction capacity.

• The integration of the central digital currency (CBDC): Integration of CBDC with blockchain networks can provide additional scalability solutions by allowing users to perform transactions directly in the network.

Case study:

In 2021, the challenges of scalability were led to which they face bitcoin to significantly reduce its acceptance and use. To solve this problem, developers created a solution called Lightning Network (LN). LN is a decentralized transaction protocol during a chain that allows fast and secured transactions in several blockchains.

The LN network has been tested on several platforms, including Ethereum and Solan. The results show that LN can process thousands of transactions per second, making it an attractive solution for high growth projects that try to increase their adoption and use.

Conclusion:

Blockchain scalability is a critical aspect of the cryptocurrency industry, with challenges facing developers and users. However, the implementation of sharing, transactions outside the chain, storage mechanisms in the cache, DLT and CBDC integration may develop solutions to address these restrictions and unlock the full potential of blockchain technology.

As the industry continues to grow and mature, it is necessary to prefer scalability and explore innovative solutions that overcome the challenges they face today. This can create a more durable, decentralized and user -friendly cryptomena ecosystem that benefits all participants in the network.

References:

• “Calls for Blockchain scalability” Cryptoslate

• “Sharding: The key to the scalability of the blockchain” from Coindeka

• “Transactions outside the chain: The solution of the scalability of the blockchain” by Cointelegraph

• «Memory storage mechanisms for improved blockchain performance» by CryptoCurrency Magazine magazine

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