BlockBill : The Blockchain-Powered Paperless Billing Solution 4 . Environmental Inclusion
As highlighted before , with the rising awareness and growing urgency to work towards combating climate change , every person tries to contribute from their end . Since our product is a step towards that direction , customers and vendors will opt for this green alternative , compared to the damaging actions doled out by thermal paper usage . Moreover , as emphasized before , the blockchain we operate on is carbon-neutral , as the organization plants trees to offset whatever carbon footprint its activities generate .
Scalability represents the capability of an information system to maintain its equilibrium condition with increased storage volume [ 18 ]. The growing volume of transactions and the inadequacies of consensus protocols are the root causes of this problem . As a result , considering design and architectural factors is essential for ensuring the ledger performs satisfactorily while remaining lightweight .
Vertical scaling of blockchain applications refers to increasing the computational power and capacity of a single node in a blockchain network , while horizontal scaling involves adding more nodes to the network by onboarding new users or additional resources to distribute the workload and increase the overall capacity of the system . Adaptability to market refers to our product ' s ability to mold itself according to customer preferences and market trends for greater ease of use and relevance .
In blockchain applications , vertical scaling means enhancing the capabilities and efficiency of an individual node in the network . It involves upgrading the node ' s hardware , such as improving its memory capacity or processing power , to enable it to handle an increased number of users or transactions . This results in an initial increase in productivity , but future progress is restricted to the rate at which computing technology advances ( known as " Moore ' s Law "). As a result , the network cannot expand at a pace that matches its growing popularity .
In blockchain applications , horizontal scaling involves adding more nodes to the network to enhance its capacity and performance , enabling it to support more users and process additional transactions . The number of nodes in the network can be increased by adding to the existing network or by connecting new networks using interoperability protocols .
With the help of NEAR ' s sharding strategy , the network ' s capacity can grow as more nodes join . The network nodes are dynamically split into many “ shards .” NEAR blockchain tackles horizontal scaling by allowing multiple shards to operate in parallel and supporting interoperability between different networks .
Journal of Innovation 109