Current Problems of Existing Blockchain Networks

Trilemma

Blockchain networks mostly concentrate on certain areas within the structural form, commonly called the Blockchain Trilemma Triangle. The corner points of the triangle represent speed, scalability, and security. Since the trilemma causes such problems for the developers of blockchain applications that fully affect projects, there is a need to integrate other structures into the networks and as a result, Layer-2, Sidechain, ZK-rollup, and similar solutions are expected to be developed by different teams.

Blockchain networks that are experiencing trilemma problems may show weakness from time to time. The above mentioned Layer-2 solutions are built on top of the existing network by different developers, thus, end-users may experience a loss of time and loss of effort and also financial losses.

Transaction Speed

Existing blockchain networks are not yet in a position to respond adequately and effectively to today's needs. Chains operating with the existing consensus mechanisms have high transaction fees and their transaction speed is insufficient.

User Experience

Many topics such as chain transactions, trading, wallet creating, wallet connecting, swapping, CEX (Centralized Exchange) - DEX (Decentralized Exchange) preference, and password storage involve complex processes for the average user.

Software Development

Chains that do not offer EVM and Solidity support present a barrier to entry, by using different technologies to provide high processing speed. This leads to a challenging learning curve for software developers. This is particularly true in cases where they offer functional infrastructures within themselves.

Decentralization

Chains using PoS and DPoS consensus mechanisms – even if they offer energy efficiency, speed and low fees – create structures that are closer to being centralized and constitute groups within themselves.