Crypto Academy Week 15 - Homework Post for Professor @alphafx

This is Week 15 of Steemit Crypto Academy and I'm writing Homework Task for Professor @alphafx

Tron blockchain Transaction

I have made a transaction of Tron and sent my Tron's from Binance Exchange to Bitmart just for this Homework Task.

I sent 10 Tron's and 1 Tron was fee so I received total of 9 Tron's in my wallet at Bitmart.

As you can see above that my Bitmart wallet of TRX is empty and have no trx deposited. I sent 10 TRX (TRC 20)on the same wallet address of Tron.

As we can see above in the screenshots that I have checked my balance of Trx on Bitmart and it was like 0 TRX on 00:59 am and I transferred 10 TRX from Binance to Bitmart exchange which costs me 1 TRX fee and I received total 9 TRX at Bitmart in just Two minutes.

Binance Smart Chain Transaction

I have made a transaction from my Trustwallet to Binance Exchange and transferred BNB amount of almost $50.

It also took almost 2 minutes to reach my those BNB's in Binance. As seen in the screenshot that I started sending BNB's at almost 1:31 am and in just TWO minutes, my BNB's worth of almost $50 deposited in my Binance account at 1:33 am. The network fee was only $0.03

Binance Smart Coin :

Binance smart coin has made its place in the crypto market after huge sales due to it being an alternative for Ethereum and the best available option to opt for, considering its high speed and low-gas network. The Transaction time, also called the Block Interval for Binance smart coin, is just 3 seconds, which is exceptional compared to other coins. In addition to that, the highest block size recorded for BNB was 248,930 bytes on 21st April. Until 2018 January, Binance Smart coin had facilitated 1.4 million transactions per second which are remarkable compared to the other cryptocurrencies.

Bitcoin :

Bitcoin, the pioneer of the crypto market, lags when it comes to scalability. The speed and scalability are not up to the mark with only five transactions per second, making it relatively slow and tiring compared with other currencies. The Transaction time or the Block interval for Bitcoin compared to the BND is relatively high ( 10 mins BTC vs. 3-sec BNB ), making it slow and waiting for the customers. There are attempts to work with the block size and the intervals, but the limitations have a complete stop with no solutions yet to be found.

Tron :

Tron, on the other hand, does exceptionally well when it comes to speed and scalability and has made a name for itself in the crypto market. The block time for Tron is just 15 seconds, with a block size of 1MB on average. It also provides 2000TPS to its customers compared to the 5TPS for BTC; hence, the speed and scalability distinguish Tron from the other cryptocurrencies.

Properties	Binance Smart Coin	Tron	Bitcoin
Block Interval ( Time )	3 seconds	15 Seconds	10 seconds
Block Size	248,930 bytes	1  MB	4 Megabyte
Transactions	1.4 million TPS	2000 TPS	5 TPS
Highest Price	$690.932	$0.3004	$64,829.14

How Can they increase scalability?

If the work is divided, it happens quickly and more conveniently, and to that, State channels are of the options. State channels are initiated by building a channel between two off-chain users, so it does not hinder the transaction at the very moment. The results are eventually added to the blockchain. It involves parties that take a part of the blockchain, and the activities are performed independently of the miners.

There are more ways to increase scalability, which is sharding. To briefly describe sharding, it is a database that works in the principle of dividing more extensive databases into smaller and divided databases known as shards, as the name of the technique tells. The shards are short, more minor and concise, and are easily managed by the people.

In recent years everything more or less has become dependent on the internet, and so does crypto with regards to its speed. A Content Delivery Network CDN was created to boost the speed of the internet immensely, switching it from kilobytes to gigabytes. The coding for the CDN is now incorporated into  BDN ( Blockchain Delivery Network ). The BDN comprises a 4 byte SID which is passed into all the gateways and relay, which then in return substitute the SID with the original transaction, which is approved by the nodes. These methods, if used, can further increase the scalability of Tron, Bitcoin, and BNB.

Summary

I believe speed is an essential factor in the transaction as no one is willing to waste 10 minutes of their lives waiting for a transaction to happen because time is money. BNB and Tron have still made massive progress in the crypto market and have made a mark that scalability and speed can help a cryptocurrency increase, while the BTC being the first contender, had already grasped the market and has made its impact several years ago, but as everything has two sides so did BTC, Its scalability and speed are does not match the standards of other cryptocurrencies. Still, the techniques mentioned above can indeed be improved, and I believe in the upcoming years it will.