What scalability issues are, and why is it important to solve them
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Today I want to discuss with you what are scalability issues in order to understand why does the industry need KYVE.
For those of you who might not know: KYVE is a Web3.0 solution for data storage. It allowes developers to create pools through KYVE’s governance to storage and systematize their data.
If you would like to know more about how KYVE works (and this is surely interesting!) please, head over to KYVE’s Medium.
What is scalability?
In terms of electronics and data science, scalability is the ability od the system to handle the growth of its workload. Or you can also say it’s the ability of the system to increase its productivity.
In blockachain industry scalability is very important since it allows the system to support more transactions at a time. And the issuecalled block propagation delay doesn’t allow the amount of transactions executed simultaneously to increase infinitely.
What issues causes the lack of scalability?
If you’re interested in crypto, then you must’ve noticed that sometimes it takes time to create a transaction. Mainly that happens because transactions get completed in a special order since the system simply wouldn’t be able to complete all of them in the same time. For example, in Bitcoin when a node gets a new block, it must check its validity. Only after that the node can transfer this block to another one. This proccess of validation is very important, but it takes a lot of time and a lot of computing resources. And is you want your transaction to be completed faster, you‘ll have to set your gas fee higher.
The solution might be to increase the slots for transactions, but that can’t be done forever. Then it wouldn’t be possible to sync with the blockchain without expensive hardware. Also it would affect the safety of the blockchain.
What KYVE offers as a solution?
KYVE is a layer 1 blockchain that stores and standartize data. It allowes developers verify their data outside their blockchain in special pools through KYVE’s governance. Pools are funded with $KYVE native tokens, that ensures that all of the participants behave right.
KYVE offers protocol nodes that verify data uploaded onto Arweave which is a storage solution. That way blockchain nodes don’t have to verify all of the data, and that would definetely resolve some of the scalability issues!
Arweave provides infinite access to the data, that ensures users can receive their data whenever they need to, and they only will have to pay once for the data to be stored.
Solution
The problem of scalability is still an issue that needs to be solved. KYVE has a strong idea and is determined to solve this issue. I surely believe in this project and its idea, and will try to help it grow in any way possible!
If you would like to learn more about KYVE and do your own research, join KYVE on Telegram, Discord, or Twitter!