Trust minimization is a valuable security property that blockchain technology is uniquely positioned to generate—replacing handshakes, brand reputation, and paper contracts with guarantees based on computer code, cryptography, and decentralized consensus. These superior guarantees provided by blockchains form the basis of cryptographic truth. By chain.link.
Them main bits of information in this article:
- Blockchains vs. traditional computing
- Three key properties of blockchain scaling
- Scaling the execution layer
- Scaling data storage
- Scaling consensus
- A scalable and secure cross-chain future
Blockchains have succeeded in bringing trust minimization to new use cases including monetary policy (e.g. Bitcoin) and digital asset trading (e.g. DEXs). However, blockchains have historically struggled to maintain trust minimization for use cases that require speeds and costs comparable to traditional computing systems. These scalability limitations can be felt by users in the form of high transaction costs and cause developers to doubt whether blockchains can support high-value use cases that hinge on handling data in real time. Good read!
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