Good Morning Tronics in the Forum,
CRYPTO projects building and developing to meet up with the blockchain technology required.
On today’s topic I will start with a vote.
3 Desirable Elements in a Blockchain:
Which of these attributes should be prioritized first in Blockchain improvement?
Let’s me share a preview of what the following elements means just to remind us.
The three desirable elements in a blockchain are decentralization, security, and scalability.
These attributes are often seen as competing priorities, as improvements in one area can sometimes come at the expense of another.
Decentralization = the fact that there is no central authority that controls the blockchain. This makes it more resistant to fraud and censorship but can also make it more difficult to achieve scalability, as all nodes in the network need to agree on every transaction.
Security = the fact that the blockchain is resistant to fraud and attack. This is achieved through the use of cryptography and consensus mechanisms.
Security is essential for any blockchain that is intended to be used for financial transactions or other sensitive data. But can also make the blockchain more expensive and slow, as more computing power is required to secure the network.
- Scalability = the ability of the blockchain to handle a large number of transactions without slowing down. This is important for any blockchain that is intended to be used for mass adoption. But can also make the blockchain less secure, as it may be easier for attackers to overwhelm the network.
So, which of these attributes should be prioritized first in blockchain improvement?
There is no easy answer, as the best approach will vary depending on the specific application or Crypto project of the blockchain.
Let get to have Tronics, Project Owners and everyone to share their thoughts on this.
All three are very crucial and should all be prioritized at first sight using the formular a=b=c.
This creates a flow where none is left behind.
Solana sacrificed security for scalability and it nearly landed them in shithole.
Bitcoin sacrificed scalability for decentralization and security and it transactions were as slow as a snail caring a bag of cement.
Tron nearly sacrificed decentralization for security and scalability, and things were almost stuck, they had to quickly bring in the DAO to save the face of the project cos Justin was becoming a pain in the Ass
Without security, the 2 other points don’t matter much so I’ve voted security
Yes, all three aspects of decentralization, security, and scalability are important for blockchain networks.
When one of these aspects is sacrificed for the sake of another, it can lead to problems
Yes, very good examples you listed above.
I recalled solana case Solana’s decision to prioritize scalability over security led to a number of high-profile hacks in 2022.
Thanks buddy, much appreciated to have your contribution.
Same with me. I stand with Security.
Meaning I can have my investment in peace of mind in
Justmoney.io, NRG WALLET and the rest of the amazing project from Tron Hackathon
I have this question,
Does this Security, decentralization and scalability
Best seen from the user’s View or Crypto project view?
If you ask any user victim of one of the numerous recent hacks, they’ll tell you they prefer a slow transaction or a transaction on a centralized chain rather than all their funds gone forever
Hahaha i prefer faster transaction than security. I was nearly beaten by a bus driver because of delays in transaction.
The driver said “ man, so u didnt have lorry fare and u boarded our car?”
He even told his assistant conductor to beat me up if i fail to pay. It wasn’t my fault too just slow network transactions
Most users are in for security, that one i agree but if you sacrifice scalability for security then u did a cos 270 job.
Imagine browsing with an internet speed of EDGE you will cry cos it will take million hours to load a content.
Same applies to this
Lols,. And Fortunately, I can add up to those numbers.
Faster transaction … A life saver.
So this question:- what will happen you have faster transaction, but the platform you using to do fast transaction is not SECURED?
This can be frustrating.
Imagine taking minutes to load Tron Dao forum.
Security is very important but you should have all in mind. They are preaching about decentralization but ask yourself are we seeing that?
Personally will love to see security and scalability because I can’t control them to be decentralized.
What most of them are doing can’t be considered as decentralization
With high speed but no security you will just manage to get your funds stolen faster
Thank you my brother,
Most of the decentralized nature of some Crypto project ain’t Decentralized.
So I can’t gamble That with Security and scalability
I had one idea wrt security: I have come across many cases where peoples private keys were compromised and funds were lost. Why not we put a system in place which basically acts as 2fa, before allowing any transaction. This way even if your private key gets compromised, you will not able to lose your funds. What you think @Gordian @Nana66419 @Nweke-nature1.com
Like multisig accounts on Tronlink?
Oh my goodness, Fabs you have finished me with laughter.
High Speed with no security could = High speed of Gone fund in a Scalable way.
Just like @fabsltsa said some have multisig but personally I haven’t used it before.
@fabsltsa how does that works?
Even if you import your wallet you need that multisig to send crypto?
I believe best I have security while I do my movement in Crypto transaction.
Moving transaction at higher speed into scam or hack endings can be premium tears.