The blockchain network was created to allow people to interact without the need for a central authority or government. All member nodes have equal rights to administer and manage the network’s transactions without any controlling authority. However, as the number of nodes grows, a scalability issue in blockchain has arisen.
Although this issue has surfaced for a long time, we currently have several solutions to this problem, such as sidechains, sharding, and rollups. These solutions limit the issue of scalability to greater lengths. Thus, one can consider scalability to be a dissolved issue at this rate. Let us first understand what scalability means and which factors affect it.
What is scalability?
Scalability refers to the platform’s ability to sustain a rising number of nodes and transactions. The following variables determine it:
Although this issue has surfaced for a long time, we currently have several solutions to this problem, such as sidechains, sharding, and rollups. These solutions limit the issue of scalability to greater lengths. Thus, one can consider scalability to be a dissolved issue at this rate. Let us first understand what scalability means and which factors affect it.
What is scalability?
Scalability refers to the platform’s ability to sustain a rising number of nodes and transactions. The following variables determine it:
- When a new transaction is made on the blockchain, it is broadcast to all nodes involved. In addition, anytime a new block is created, it is revealed to all nodes. As a result, this operation uses many network resources and increases propagation delay.
- The necessity for vast amounts of data to be kept on the blockchain is defined by cost and capacity. The blockchain stores all of your data, from the genesis block to your most recent transaction, even though the network’s nodes cannot retain such a massive quantity of data.
- The size of the transaction block and the time it takes to confirm a transaction are also factors in throughput. As the number of transactions grows, so does the size of the block, necessitating extra resources.
