Glossary - ChicksX

Blockchain Trilemma is the challenge of achieving security, scalability, and decentralization simultaneously in blockchain networks.

Blockchain Trilemma is the challenge of achieving security, scalability, and decentralization simultaneously in blockchain networks. Security ensures the protection of data and transactions. Scalability involves handling an increasing number of transactions efficiently. Decentralization ensures no single entity controls the network. Achieving all three aspects at once is difficult. Enhancing one often compromises the others. For example, increasing scalability might reduce decentralization. This trilemma guides the development of blockchain technologies. Solutions often involve innovative consensus mechanisms, sharding, or layer-two protocols. Understanding the trilemma helps in evaluating different blockchain projects and their potential trade-offs for your crypto/fiat exchange needs.