Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
- Bank Secrecy Act (BSA)
- Banking as a Service (BaaS)
- Beacon Chain
- Bear Trap
- BEP-2 (Binance Chain Tokenization Standard)
- Bid Price
- Bid-Ask Spread
- Binance Labs
- Bitcoin Pizza
- Blockchain Trilemma
- Brian Armstrong
- Bull Trap
- Bull vs Bear Crypto Market
What is Blockchain Trilemma in Crypto?
The blockchain trilemma is a set of three issues that plague blockchains: decentralization, security, and scalability. Cryptocurrencies are often lauded for their decentralized nature, but this comes at a cost. The more decentralized a blockchain is, the harder it is to keep secure and scalable. This trade-off is known as the blockchain trilemma.
The decentralized nature of blockchains means that there is no central authority to secure the network. This makes it more susceptible to attacks. The scalability issue refers to the limited number of transactions that can be processed by a blockchain at any given time. This is due to the fact that each node in the network must validate every transaction.
The blockchain trilemma is a major challenge that needs to be addressed in order for cryptocurrencies to achieve mainstream adoption. Solutions such as sharding and off-chain scaling are being developed, but they come with their own trade-offs. It remains to be seen whether the blockchain trilemma can be solved.