Company
Date Published
Author
Chainlink
Word count
120
Language
Chinese
Hacker News points
None

Summary

The text discusses the concept of trust minimization as a valuable security attribute that blockchain technology inherently possesses, enabling it to replace traditional mechanisms like contracts and brand reputations. Despite its potential, blockchain technology faces challenges in speed and cost, which impede its scalability and its ability to compete with traditional computing systems. The blockchain's ultimate goal is to cover all users and applications, making scalability a key focus for its development, especially in integrating smart contracts into various industries. The text highlights the inherent differences between blockchain and traditional computing, emphasizing blockchain's high determinacy, trustworthiness, and user-verification capabilities, while also discussing the roles of block producers and full nodes in maintaining blockchain security. The scalability, decentralization, and security trade-offs are presented as the "blockchain trilemma" or "scalability dilemma," with blockchain expansion strategies focusing on execution, storage, and consensus layers. Furthermore, the text outlines various scalability solutions and challenges for these layers, including execution sharding, data storage modularity, and consensus enhancements, all aiming to enhance blockchain's capacity while maintaining its trust-minimization features. The document concludes by highlighting Chainlink's efforts to develop cross-chain interoperability protocols to support the evolving multi-chain ecosystem while maintaining security priorities.