Hello everyone i am here to complete my homework that is given by the professor @alphafx
So , let's start the homework
Question no.1
Make a transaction on the Binance smart Chain and Tron blockchain (you can use any token)
Question no.2
Show the time taken for each transaction to be verified (original screenshots must be included)
First the answer to that second question is here, so I took two coins to complete the first and second question. Both the coins were already on my binance wallet, so I did not have to buy them.
I chose two of which first one was coin tron and second one was BNB. I transferred tron from TRC20 network and BNB from BEP20 (BSC) Let's see how and how much time taken.
So first I went to the trust wallet and searched the tron coin in it, then clicked on it and copied its address.
After that I opened my binance and went into the tron wallet and clicked on Rebellion and paste the address I had copied to the trust world there and select the TRC 20 network and write as much tron as I had to transfer.
Now we can see everything below.
When I clicked on the rebellion, I saw that a TRX seemed to be in the form of transaction fees. Then I clicked on the Withdraw.
Then my withdrawal request submitted
Time - 12:04
You can see it below
After a while I received tron coin in my trust wallet in less than 2 minutes
time - 11:06
Coin - TRX
Network - TRC 20
Withdrawal request submitted - 12:04
Received - 12:06
I saw a lot of people that TRX coin was transferred from TRC 20 network in less than 1 minute so I did Transaction once again, this time I set up the Binance from my trust wallet.
Then I open my trust wallet and search TRX on it, then click on it and on its revolt paste the address which I copied from binance.
Then I withdrawal TRX.
Withdrawal time - 12:34
I received TRX coin in less than 1 minute in binance
Received - 12:35
This time
Coin - TRX
Network - TRC 20
Withdrawal request submitted - 12:34
Received - 12:35
Time taken - 2 min
As you know that I chose the second coin BNB, then I went to the binance and clicked on the BNB deposit. I first selected the network BSC and copied its address.
you can see it below
After that I again went to the trust wallet and clicked on BNB and went to its withdrawal, then pasted the address I had copied from the binance and withdrawal the BNB.
Withdrawal request submitted - 12:19
After that I received the coin after about 2 minutes
Received - 12:21
Coin - BNB
Network - BSC
Withdrawal submitted time - 12:19
Received - 12:21
Time taken - 2 min
Compare the scalability and speed of the two against BTC
When transactions are demonstrated in the Bitcoin network, in idea every node in the decentralised machine has to verify every transaction
The Bitcoin network can solely method a sure range of transactions in a set time frame, such as per block
In its most simple definition, scalability is the functionality of the community to deal with a developing quantity of transactions
In a more detailed context, scalability factors encompass throughput, transaction times, latency, and safety
So you all know that bitcoin is transacted in about 10 minutes, very late and the other one which I just showed above that TRX transaction takes place in less than 1 minute. Both are in front of you. You can see how fast TRX Is bitcoin.
What do you think can be done to improve the scalability of these three (BTC, Tron, Binance Smart Chain)
I like sharding technology
Sharding is a common technology first proposed in the database field ordinarily for the optimization of giant commer- cial databases. This approach is to divide the information of a large database into a quantity of fragments, and then save them in separate servers to minimize the stress of a centralized server, thereby improving the search performance and enlarging the storage capacity of the entire database system.
The primary idea of sharding technological know-how is divide- and-conquer. Therefore, making use of sharding technology to blockchain is to divide a blockchain network into several smaller networks, each contains a part of nodes, which is called a ‘‘shard’’. Transactions in the network will be processed in one-of-a-kind shards, so that every node solely wishes to technique a small section of arriving transactions. Different shards can procedure transactions in parallel, which can increase the concurrency of transaction processing and verification, therefore increasing the throughput of the entire network. While partitioning the whole gadget into special shards, it is integral to guard the decentralization and safety of the system.
Thankyou
@alphafx
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