Looking out the window I see this tree swinging with it so green leaves, with its so delicate branches swaying to whirls of the wind.
It looked so tall as if reaching out to the heavens and the trunk so firm to the ground it could be touching the center of the earth.
The name I wonder of such a beautiful creation the fruits of it I yearn to see grow. What makes me pen this? Just imagine as a seed is planted into the ground, sprouts open and grows to become a tree yielding more fruits and probably produce more trees. Could this be life as a whole?
Look at the concept of blockchain, Bitcoin was created to solve a problem of decentralization and speeding up transactions, “a peer to peer electronic cash system”. As much as Bitcoin was fast and cheap people were happy but Bitcoin was a blockchain that was so secured that does not allow any other thing to be built or stored on it. More so with popularity, transactions became slower and more costly. Vitalik then gave us Ethereum and we started seeing developments in the field of blockchain technology with more of decentralized finance, smart contracts and NFTs. But just as Bitcoin, Ethereum became expensive. The Binance Smart Chain came to make life faster and cheaper but unfortunately it became so vulnerable to attacks. So just like the tree, to try make life easier on ETH, side chains were created. Look at it this way, if a tree had only a single branch and a tree with multiple branches which would produce more fruits? So simply side chains are there to make more transactions being done and also at a cheaper rate. There goes platforms like Cosmos, Polygon…
Layer 2 blockchains now makes life a whole lot easier think Solana, Near very scalabing transactions, scaring mechanisms, totally secured but decentralized? So in the words of Vitalik Buterin, can we ever have a blockchain that solve all these three problems “Scalability, security and decentralization”?