Hyperledger Global Forum 2022

Blockchain technology has gained mass attention but mass adoption is still a distant future because it is yet to address scalability and user experience issues. The 3 pillars of blockchain - Security, Decentralization and Scalability seem to constantly strive to co-exist but struggle to live in harmony. Scalability and Decentralization are often held back by security, security tends to be compromised by any shifts on a network that offer scalability. Some platforms claim a higher transaction throughput, but compromise on decentralization. Finding a balance between the three is difficult and presents a problem referred to as the Blockchain Trilemma. Few projects propose developing their own blockchains, neglecting the massive developer community and ecosystem that already exists. If there is going to be any sort of mass adoption, scalability is critical. Lately, there have been solutions in Layer 2 space that use innovative and practical design patterns to tackle the trilemma. Popular design patterns like state channels, side chains, optimistic rollups and zero-knowledge rollups have been proven to improve transaction speeds without compromising on security and decentralization.