The blockchain trilemma: can it ever be solved?

Blockchains must strike a balance between offering the best secure and scalable infrastructure while remaining reasonably decentralized. Is this a realistic future for Web3?

A fundamental element of blockchains is decentralization, a feature that allows users to transact without the need for a central authority. This formed the core of the Bitcoin (BTC) white paper that Satoshi Nakamoto published in 2008. It serves as the basis for any Web3 product from a network and a philosophy.

However, as more people flocked to the channel, a few other features seemed crucial, scalability and security. Although Bitcoin is considered the most decentralized of all networks, its transaction speed does not make it conducive to building applications on top of it and this is what other layer-1 chains are capitalizing on and building on. are trying to resolve.

While the creators and developers of L1 networks claim they are the most secure, scalable, and decentralized network of them all, is that the case? Can blockchain networks be created with so much emphasis on decentralization, scalability, and security?

If so, then the blockchain trilemma will cease to exist. But, unfortunately, this is not the case and almost all L1 networks fail to meet all three aspects, leaving the door open for a pioneer to solve blockchain's greatest challenge, albeit the greatest source of innovation. 'silver.

Let's take a look at the three major L1 networks, Bitcoin, Ethereum, and Solana, and evaluate them in all three dimensions, namely decentralization, scalability, and security.