Crypto Academy Week 15 || Homework Post for Professor @alphafx || Scalability and Improvements Made and Still to be Made || Homework Done By @preshdan

Greetings to you my steemit friends and to you Professor @alphafx, it is indeed pleasurable and am honoured to be participant in your lecture for this week as well as homework task. You did an explicit lecture on Blockchain scalability (A comparison between Bitcoin, BSC and Tron Networks). I will try to agreeably deal with the sets.

Make a transaction on the Binance smart Chain and Tron blockchain (you can use any token)
Show the time taken for each transaction to be verified (original screenshots must be included)

USING THE TRUST WALLET TO TRANSACT ON THE BSC.

Below are the process of carrying out the transaction followed by screenshots.

1. Login into the Trust wallet.
2. I have just 1TRX in my wallet, so I will be transferring it to the Binance Exchange.
3. TRON assets is among the list of displayed assets so Click or Select TRON assets.
4. Click on the "Send" icon shown on the interface in your screen.
5. I am transferring it to my Binance exchange, consequently, I copy and the TRX address in the box provided for recipient address.
6. Input the amount of TRX. Since I only 1TRX, I will be selecting it as maximum value.
7. Click on the SEND button.

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Observations

• It was at exactly 01:27AM that the transaction was initiated.
• The transaction was completed at exactly 01:28:1AM. This implies that, it took just 1min and 10secs to have 1TRX fully transferred to Binance exchange.

USING TRONLINK WALLET FOR TRANSACTION ON THE TRON NETWORK

1. Open the TRONLINK wallet
2. I will still use TRX to show the transaction time as well as the duration.
3. From among the the list of assets, select TRX assets.
4. Click SEND just below the interface on the screen.
5. Type in the address of the recipient (as copied from my Binance exchange).
6. Subsequently click Send, then confirm the transaction by inputting your password.

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2.

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5.

Observations

• Transaction initiation time was exactly 03:00AM
• At exactly 03:00:15AM, the transaction was completed.
• The transaction took 15secs to be completed, this means transaction time is 15secs.

Compare the scalability and speed of the two against BTC

With regards to the task, scalability refers to network's capability in handling enormous amount of transaction with a specific period of time. My comparison will be on the two, as in the case of the task, TRON/BSC and Bitcoin.

The operation with my wallet for BSC took 1min and 10secs to fully transfer 1TRX to my Binance exchange account. On the other hand, the transaction with Tronlink completely executed the transfer of 1TRX to my Binance exchange account just in a space of 15secs. The two transactions sum up to give 1min and 25secs transaction time taken to execute, in an effective manner, an end-to-end transaction whereas Bitcoins 10mins to completely execute from end to end.

As a result of the longer duration taken to check or prove the validity of a particular transaction, high transaction fee is applicable in the the Bitcoin blockchain as to compare the two which has relatively low transaction fees. BNB are used in the Binance platform and at some time, discounts are given to verified and active users in the blockchain. This is also observably seen in Tron in which vanishingly small transaction fee was charged. As observed in the transaction, a transaction fee of 0.1TRX was to transfer 1TRX to Binance exchange account.

What do you think can be done to improve the scalability of these three (BTC, Tron, Binance Smart Chain)

Without pause on daily basis, the Binance exchange has encountered transactions in millions passing through its protocol. The Binance ecosystem would be having about 5,030,000,000 transactions on hourly basis if for instance 1.3million TPS are observed to be scalable in the Binance. Beyond doubt, this is enormous and owing to the quantity of transaction observed in this platform, system failure, as regard it's centralized protocols, is an unthinkable option. Such disastrous system failure having the ability to destroy such volume of transaction can be made better or improved by making the system a decentralized system.

In view of the pace setter coin BTC, the TRON and BTC though being decentralized system are not immuned to problems of scalibility.

A look at some inputs offered for acceptance which would help ameliorate scalability.

• Change of Consensus Algorithm
  Because the CONSENSUS ALGORITHM determines the relative speed of change or progress at which mathematical conundrum and transactions are solved, instant change, as regards this, is advisable particularly to BTC that makes use of Power of Work(PoW).

• Improvement on Network delay
  The quantity of transactions to be checked or prove its validity at a time may be increased by altering the size of Bitcoin blockchain although, by action, it would bring about the problem of increased amount of time required for checking and proving the validity of transactions. Consequently, it is needful to put into existence, an off-chain transaction and process of checking and proving the validity of transactions in which transactions can be carried out on various nodes not within the prime Blockchain so as to reduce the BTC blockchain burden and afterwards, they will be summed up to the blockchain.

• Increment of node size
  In a Blockchain in which activities are rapidly processed before they are summed up to the Blockchain, the nodes serve as capacity holders. Thus, there is need for the nodes to increase by 100% and become twice bigger so as to allow for more as well as faster processing and validation time in the ecosystem.

Conclusions

In summary, there should be a comprehensive efforts to ameliorate or batten the scalability in most of the blockchain networks that is still scaling below than the required norms observed in the centralized systems. Although it is a humongous task, there is great notion perceived as regards delay in network.

This is my entry Professor @alphafx, thanks for reading through.

Cc:

@xkool24