Since the birth of Bitcoin in 2008, blockchain scalability has been a concern amongst the crypto community. But what is Blockchain Scalability exactly? Blockchain scalability refers to a blockchain platform’s potential to grow and adjust to support more users as it becomes more popular over time. To put it simply, scalable blockchains are better positioned for long-term success. Those that struggle to scale will end up failing eventually. Here are a few key factors about blockchain scalability that newcomers should keep in mind.
Blockchain applications aren’t as easy to migrate as traditional software. For this reason, experts recommend planning for future migration from day one and building your blockchain infrastructure with these limitations in mind.
A common mistake many blockchain platforms make while scaling is compromising on security. Some of the most notorious blockchain hacks have taken place while the media were in a period of transition. The balance between scalability and security is a delicate one that no blockchain project has yet been able to perfect.
Experts recommend that blockchain platforms integrate their range of products across multiple different ledgers. Doing so improves user experience and improves security as well.
A Strong Community
A blockchain platform is only as strong as the community it fosters. For a blockchain platform to scale successfully, it must have a dedicated userbase willing to bear through the highs and lows. Communities with better leadership figures always grow more successfully.
Technology Is Evolving Rapidly
Blockchain technology is innovating at breakneck speeds, and the problems within the industry will have viable solutions in no time. But unfortunately, several blockchain projects fail because their userbase doesn’t have the patience to wait for necessary technological evolution. Therefore, it is important to wait and see each project live to its full potential.