Is This The Solution To The Blockchain Trilemma?

cryptonews.com:

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

While blockchain technology has found its way into mainstream industries, ranging from gaming to finance, the underlying infrastructure of decentralized and distributed ledgers is facing a one-of-a-kind issue called the ‘Blockchain Trilemma.’

Coined by Ethereum’s Vitalik Buterin, the Blockchain Trilemma covers the problems developers face in delivering a perfectly balanced blockchain solution that’s decentralized, scalable, and secure.

Decentralization, security, and scalability are the three fundamental features of blockchain. However, blockchain technology isn’t perfect, just like any other evolving technology. More often than not, blockchain developers are forced to trade-off between one ‘aspect’ for the sake of the other two. 

In the context of blockchain networks, decentralization means that every user is offered equal opportunities to participate in the validation and production of blocks. Instead of being managed by a central entity, the work is distributed among thousands of nodes, making the network more decentralized and secure.

Scalability, on the other hand, refers to the network's overall performance and is usually measured in transactions per second (TPS). When a network focuses on decentralization and security, they have to compromise on scalability, primarily because the entire network will be managed by many nodes simultaneously (which will, in turn, slow the network).

For example, even though Bitcoin is the oldest and the most secure blockchain network, not many decentralized applications (dApps) and decentralized finance (DeFi) products are being built atop it. This