Crypto Academy Week 15. Homework Post for @alphafx

in hive-108451 •  3 years ago 

Performance of transactions

💠 Binance smart Chain (BSC)

Reason of transaction:
Compounding CAKE token for reinvestment.

Fee consumption:
0.001 BNB (0.3$)

Time taken:
Less than a minute.

💠 Tron blockchain (TRX)
Reason of transaction:
Exchanging TRX for USDT token.

Fee consumption:
344 Bandwidth

Time taken:
Confirmed in less than a minute too.

Details of transactions

For the first case in BSC, I seized the opportunity to re-stake some earnings I've made from the syrup pool of PancakeSwap.finance and of course this was requiring a transaction fee that had taken place in this chain. As we can see in previous screenshots, there's at least 71 confirmations related to that block and that was practically an immediate transaction.

In the Tron network, I've spent at least 14 TRX to swap them for a unit of USDT coin, so it was also instantaneous (took 2 seconds to change from pending to success!). It was necessary 19 super representative's confirmations there.

Comparing the scalability and speed of them against BTC

It was incredibly fast comparing to the Bitcoin network that might take at least ten minutes to verify a transaction due to the heavy traffic that is taking place nowadays. The Binance Smart Chain that was barely launched last year, is built to perform quick transactions with lower fees. So, for sure it's very competitive with BTC network by seeing this point of view. We can say the same about Tron network, which is acceptable to use, despite is not so popular like other platforms, although users could be prefer to make transactions there due to the cheap commissions.

What can be done to improve the scalability of these three (BTC, TRX, BSC)?

Despite it was really quick the transactions Tr de in Binance Smart Chain (BSC) and Tron Blockchain, it's supposed there's always a way to improve certain performances of them to get the guarantee of good quality use of platforms. Let's see a possible solution to deal with in these blockchains: We can think about off-line alternatives to carry out transactions that might help it to make lighter the traffic that is now usually taking place and a lot of waiting time. And what about to use the help of another Blockchain like Ethereum as a extra layer with tokenism of BTC in ERC-20? But ETH is also having its own issue due to long time of transactions over there. So, right now, scalability is a new subject to be developed in order to improve the performance of any chain.

C.C: @alphafx

👷🏻‍♀️>>~•Alegn@•~>🎶

*** See you in next post *** 📝

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Good job on the transactions but the comparisons and solutions fall short.

ParameterScore
transactions3/3
comparison.5/2
solutions1/3
presentation1/2
___________________________
Total5.5

Thanks for participating

Oh... I hope to perform much better next time. Thanks for the review and score. Best regards from my part. Wish you a good day professor.