Since Bitcoin’s launch in 2009, blockchain technology has proven that it has the potential to revolutionize the world, with new use cases been discovered by the day. However, blockchain technology is still in its infancy and has to overcome several challenges before its widespread adoption.
This led Vitalik Buterin to create the concept of the “blockchain trilemma” as a way to better understand how these challenges are co-related by bringing them together under an umbrella term. But, what is the blockchain trilemma? Is it really a trilemma? And, can it be solved?
The Blockchain Trilemma Explained
Even as blockchain technology continues to revolutionize just about every industry it comes into contact with, even Visa bought a CryptoPunk for nearly $150,000 in ether, the very way in which decentralized networks are structured present them with unique challenges. Especially when compared to centralized structures.
Continue reading: https://www.makeuseof.com/blockchain-trilemma-explained/
This led Vitalik Buterin to create the concept of the “blockchain trilemma” as a way to better understand how these challenges are co-related by bringing them together under an umbrella term. But, what is the blockchain trilemma? Is it really a trilemma? And, can it be solved?
The Blockchain Trilemma Explained
Even as blockchain technology continues to revolutionize just about every industry it comes into contact with, even Visa bought a CryptoPunk for nearly $150,000 in ether, the very way in which decentralized networks are structured present them with unique challenges. Especially when compared to centralized structures.
Continue reading: https://www.makeuseof.com/blockchain-trilemma-explained/
