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#Blockchain trillema states that no chain can be simultaneously..
- decentralized
- scalable
- secure
It assumes you can't have more than two out of three.
Sounds like a challenge?
$NEXA takes up the gauntlet.
Thread 🧵
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#Decentralization means not depending on a central point of control or failure, with no single entity or group having a majority of control
#NEXA solves this by design, by relying on #PoW consensus.
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Joining the #PoW network requres covering the costs of hardware and energy.
Gaining and keeping control of a majority of the network's computational power becomes harder as the network expands, further rising the costs involved, making it at some point simply unprofitable
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#Scalability on the other hand is the #blockchain's ability to effectively handle a large number of transactions without compromising its performance and speed.
$NEXA boasts being the most scalable #blockchain ever built
Not without reason..
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#NEXA introduces..
- block sizes adjusting based on the demand for transactions on the #blockchain
- scripts requiring single execution
- open architecture that allows for the possibility of implementing sharding in the future
..to handle over 10 BILLION transactions per day
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That leaves us with the third part of the trillema - #security.
How does $NEXA tackle this issue?
By using the same proven security system as #Bitcoin - #proofofwork
100% of the mining rewards are distributed to miners
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No entities having special privileges, incentivizes everyone to act in the best interest of the chain and maintain its #security
Additionally, the we get double-spend notifications, which help to detect and prevent double-spending, and protect #NEXA users from fraud
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To summarize..
Balancing #decentralization, #scalability, and #security is no easy task, but with its unique approach to the trilemma, $NEXA is well positioned to become a big player in the #crypto world
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