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Scalability/Blockchain Trilemma

Scalability/Blockchain Trilemma

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We have entered an era where the importance of decentralized solutions has become more obvious. Blockchain technology and its derivatives are distributed ledger technologies that keep the registry of data between peers of a network. This ledger is secured within a successive over looping cryptographic chain. The accomplishment of the Bitcoin crypto...

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... the data in the DSN architecture is also being implemented. Vitalik Buterin, co-founder of Ethereum, once claimed that a blockchain solution can have a maximum of two characteristics out of the three core characteristics (decentralization, security and scalability). This is also called the scalability/blockchain trilemma, which is shown in Fig. 6. An attempt to solve the scalability problem will result in sacrificing on decentralization or security (Gomez, M., 2017). Scalability solutions can be covered in four layers; hardware, network, blockchain and application (EUBlockchain, 2019a). These solutions are summarized in Table 3. ...

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... Blockchain technology is characterized by trustlessness, eliminating dependence on centralized storage providers through the implementation of a transparent and decentralized system. The decentralized system does not involve third parties or intermediaries; instead, it utilizes a peer-to-peer (P2P) method allowing direct communication between nodes, and with the consensus protocol that eliminates the potential for data fraud in the network [7], [8]. ...
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... Both conventional and modern alternatives to blockchain exist, e.g. relational databases, NoSQL databases, and other distributed ledgers (Karaarslan and Konacakl 2020;Schueffel 2017). Relational databases are the most common databases and store structured data in twodimensional tables (Austerberry 2006). ...
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