What are the key considerations when designing a scalable blockchain architecture for a new cryptocurrency?
Designing a scalable blockchain architecture involves several factors. Start with choosing a consensus algorithm that balances speed, security, and decentralization. Proof-of-Stake (PoS) and Delegated Proof-of-Stake (DPoS) are popular options. Next, consider block size and transaction throughput, ensuring your blockchain can handle high volumes without compromising efficiency. Implement sharding or sidechains for additional scalability. Security is paramount, so incorporate robust encryption methods and a consensus model that resists common attacks like 51% attacks. Lastly, design an efficient governance structure to facilitate upgrades and resolve conflicts, keeping the blockchain adaptable to future changes.
source: https://www.blockchainappfactory.com/cryptocurrency-development