/biz/ - Business & Finance

Nano unironically solves the blockchain Trilemma, as coined by Vitalik Buterin. Iota seeks to do this as well, but still relies on a central entity. Avax is another project that has solved this issue. FTM advertises itself as doing so, but I personally view it as a scam. Same with that constellation coin shilled by the nanofudder. DAGs are the future of decentralized consensus for sheer sake of scalability and speed alone. Like the cable to the old 56k systems of old.

>The blockchain Trilemma is one of the greatest hurdles for cryptocurrencies. The Trilemma is a situation which involves the three basic concepts of blockchain technology: security, scalability, and decentralization. The Blockchain trilemma states that you can always achieve the three main attributes of scalability, security, and decentralization at the expense of others, or that you cannot maximize all three properties at the same time.

>The Trilemma concept was originally signified by Vitalik Buterin, the founder of Ethereum (ETH), who invented the name in regard to the scalability of blockchain technology.

>For example, if there are a large number of nodes, the network is secure, but then it has limited scalability because all nodes must validate the transactions. It just takes longer for many nodes to get the same status as if there were fewer nodes on the network. In addition, there are more gridlocks in blockchains with many nodes, so nodes with fewer resources, poor Internet connection paralyzes the network additionally. There are projects that claim to have solved the blockchain trilemma so that the network can maximize all three properties. However, no proof is presented.

>The Trilemma theoretically says that all blockchains can be designed to live at one exact point within a triangle, which is defined by the strength of each of three core blockchain systems. The perfect blockchain would be capable to maximize all three factors, thus resolving the Trilemma.

Nano also solves the blockchain Trilemma, as coined by Vitalik Buterin.

>The blockchain Trilemma is one of the greatest hurdles for cryptocurrencies. The Trilemma is a situation which involves the three basic concepts of blockchain technology: security, scalability, and decentralization. The Blockchain trilemma states that you can always achieve the three main attributes of scalability, security, and decentralization at the expense of others, or that you cannot maximize all three properties at the same time.

>The Trilemma concept was originally signified by Vitalik Buterin, the founder of Ethereum (ETH), who invented the name in regard to the scalability of blockchain technology.

>For example, if there are a large number of nodes, the network is secure, but then it has limited scalability because all nodes must validate the transactions. It just takes longer for many nodes to get the same status as if there were fewer nodes on the network. In addition, there are more gridlocks in blockchains with many nodes, so nodes with fewer resources, poor Internet connection paralyzes the network additionally. There are projects that claim to have solved the blockchain trilemma so that the network can maximize all three properties. However, no proof is presented.

>The Trilemma theoretically says that all blockchains can be designed to live at one exact point within a triangle, which is defined by the strength of each of three core blockchain systems. The perfect blockchain would be capable to maximize all three factors, thus resolving the Trilemma.

A

Smart contracts are expensive. Whichever platform wins the decentralized computing race, will be the one that solves issues related to scaling, such as latency, cost, and data, while minimizing the loss to decentralization while doing so. Currently, Nano is the only crypto so far which has been able to overcome what is called the cryptocurrency trilemma, however Nano does not handle smart contracts. I would love to hear why ETH, ADA, or even something like IOTA or AVAX, can address these issues and why it will be a long term solution able to affordably compete with the current centralized services we have available.

>>24033284
>XRP = Centralized shitcoin the devs hold majority share over
>XLM = same shit different branding
>LTC = cannot scale, same as BTC
>BCH = can scale better, but still unable to meet market demand of use of a currency
>XMR = based, but more resource intensive than BTC, and also suffers scaling issues

Nano solves the cryptocurrency trilemma, that being finding a balance between being decentralized, scalable, and secure.

What would you pick and why

>>15836440