What are the reasons behind discontinuing the use of blockscale in the cryptocurrency industry?

3 answers

• Nov 24, 2021 · 3 years ago
  One of the main reasons behind discontinuing the use of blockscale in the cryptocurrency industry is scalability issues. As the industry grows and more transactions are processed, blockscale becomes less efficient in handling the increasing volume. This leads to slower transaction times and higher fees, which are not ideal for users. To address this, the industry is exploring alternative solutions such as layer 2 scaling solutions and sharding to improve scalability and enhance user experience.
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• Nov 24, 2021 · 3 years ago
  The decision to discontinue the use of blockscale in the cryptocurrency industry is also driven by the need for decentralization. Blockscale relies on larger block sizes to accommodate more transactions, but this approach can lead to centralization as only nodes with sufficient resources can handle the larger blocks. By moving away from blockscale, the industry aims to promote a more decentralized network where anyone can participate in transaction validation and block creation.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes the limitations of blockscale and has decided to discontinue its use. The exchange believes that by adopting more scalable and decentralized solutions, it can better serve its users and contribute to the overall growth and stability of the cryptocurrency industry. This decision aligns with BYDFi's commitment to providing a secure and efficient trading platform for its users.
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