DO YOU KNOW ANY BLOCKCHAIN THAT COMES CLOSE TO SOLVING THE TRILEMMA OF BLOCKCHAIN? : altcoin

DO YOU KNOW ANY BLOCKCHAIN THAT COMES CLOSE TO SOLVING THE TRILEMMA OF BLOCKCHAIN? : altcoin

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Most of us are already familiar with this phrase and understand what it means, but I’d like to clarify a few points for those who are unfamiliar with it. According to Vitalik, the trilemma of blockchain includes security, scalability, and decentralization. Is it true that most blockchains can only solve two problems and give up one in the process? As Vitalik claimed when he was talking about the scalability issue of the Ethereum blockchain. Make your conclusion after you’ve gone through this thread.

Lets talk about blockchain security first. You know what they say about security, right? How secure is the project against hackers? You’d agree with me that the number of blockchain hacks has recently increased, which is why it’s critical to address to ensure the security of our digital assets. That’s why many projects use Certik audit as a benchmark, and some even go so far as to obtaining a second audit. What if I told you that blockchain is also vulnerable to quantum computers? That’s why post quantum cryptography is also a conditio sine qua non ( necessary condition) when addressing blockchain security.

Regarding Scalability How many transactions per second can a blockchain handle, and how congested can it be? What are the gas costs? These are the issues that need to be addressed. Solana claimed it could handle over a million TPS but it always has downtime after every few months, Ethereum is always congested, resulting in high gas fees. To address this, some projects have developed a hybrid feature that allows you to combine the TPS of both private and public blockchains to achieve a higher TPS ,although, at the cost of decentralisation.

The final one is decentralisation; the consensus protocol will have a big impact here. PoW, PoS, and PoR address this part very well. I’m still not convinced by Solana’s PoH, because it looks more of a centralised protocol than decentralised.

Based on my research. Layer 1s with high market capitalization, I gathered, did not address these issues . QRL and QANplatform were the only ones who came close to solving everything. Both have post quantum cryptography as well as secured smart contracts to address security concerns, with Qanplatform being the only one to audit the post quantum cryptography code. Both have the hybrid feature to solve the scalability issue, and for decentralisation, Qanplatform employs PoR, which combines the best of PoS and PoW, while QRL employs PoS. That’s all for now, I hope you followed to the end. What do you make of this thread?

Qanplatform QRL

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