⚡Blockchain: Fundamental Decalogue⚡
💡For a #Blockchain network to be effective, replicable and scalable, it needs to meet several key requirements, let's go into detail dear reader:
1️⃣ Security: The network must be resistant to attacks and fraud. This is achieved through a robust consensus protocol and strong encryption mechanisms.
2️⃣ Decentralization: There must be enough distributed nodes to avoid centralized control and allow censorship resistance.
3️⃣ Performance: The ability to process a large number of transactions per second (#TPS ) without compromising speed or quality of service is crucial.
4️⃣ Layer 1 Solutions: Modifications to the base layer of the network, such as block size or block time, that seek to increase TPS.
5️⃣ Layer 2 Solutions: Improvements applied to the base layer, such as side chains or state channels, that help scale the network without altering the main chain.
6️⃣ Interoperability: The ability to interact with other networks to share information and value.
7️⃣ Flexibility: The network must be able to adapt to different use cases and user requirements.
8️⃣ Scalability: Refers to the network's ability to adapt to increases in demand, maintaining efficient performance.
9️⃣ Sustainable Growth: The network should be designed to expand access as needed, without degrading the user experience.
🔟 Human team: I have left this point for last but it is the most important, without a prepared, trustworthy team, and aligned with the rest, none of the previous 9 steps will work at full capacity.