Hello @nane15 below comes my entry for this week task.

My Entry

1) Explain in your own words what the Blockchain Trilemma is.

From my little understanding trilemma simple means three options that makes it difficult to make a choice and apply them at once.

This economic theory is at work in some countries, and they find it difficult to apply three options simultaneously when making some decisions when it comes to monetary issue or any other policy agreement.

Blockchain trilemma

This concept means the difficulty or challenges that occurs in a blockchain when you try to apply three elements namely Decentralization, Security, Scalability in a blockchain transaction, as a result of this challenge users are left with no other option than to move ahead with two element leaving one behind.

This concept was invented by vitalik buterin

Example of this is Bitcoin, Bitcoin has chosen decentralization and security leaving scalability behind, as a result Bitcoin transactions takes more time because of lack of scalability.

2) Is blockchain trilemma really a trilemma

Despite the challenges that trilemma brings to the system, there are still some users that have simultaneously used this three elements, and besides that blockchain developers have been on research even till date on how to get solution to this challenge.

DEFINE THE FOLLOWING CONCEPTS IN YOUR OWN WORDS:DECENTRALIZATION

DECENTRALIZATION:

This simply means peer-to-peer transactions without intermediary. It has to do with a network that doesn't need to trust anyone for his or her data, because all users are responsible for their account thereby earning freedom of expression.
Decentralized network allows investors to have direct communication if they wish, on the other hand they don't need to know the other investor in order to conduct transactions, it also enhances privacy on the chain.

In this network everyone enjoys financial sovereignty because they are in control of the system, no interference.

BLOCKCHAIN SECURITY:

Security is very important in blockchain network, because if no security all efforts on blockchain will be useless because they are not secured, and this will give access to hackers to manipulate the ledger, so blockchain security means the ability to stabilize blockchain network.

SCALABILITY

When we talk about scalability we mean the process whereby blockchain will be able to support a hug or large amount of transactions and blockchain users without losing strength.
This has been a challenge on modern day blockchain.
Scalability helps to carry out thousands of transactions at the same time.
There are some networks that has such support, like Neo, Nem, Ripple, Eos conducts thousands of transactions in less than 35 seconds.
And most platform like video streaming, gaming and social platforms needs scalability in its network.

Based on your knowledge, explain at least two viable solutions to the challenges posed in the Blockchain Trilemma.

There are some viable solutions that developers has taken in considerations to help in the challenges posed in the blockchain network.

LAYER-1 --PROOF OF STAKE.

This layer was introduced by Ethereum and it is a solution that wants to improve consensus mechanism, this will apply that blockchain will switch from PROOF OF WORK to PROOF OF STAKE given a better opportunity for transactions to be decentralized, secured and scalable.

SHARDING

Sharding allows for splitting of transactions in into little shards, and this will help out for all transactions to be processed at the same time by blockchain in parallel allowing hug amount of transactions to be carried out at the same time.
Shards presents evidence to the main chain and communicates with one another in sharing balances and addresses, and other important protocols.
Ethereum 2.0, Zilliqa, Tezos and Qtum are exploring the use of sharding.

LAYER-2 SOLUTION.

Nested blockchain:

On this process there are set out rules but this rules only applies when there are matters to be settled.
In Nested blockchain work are divided between the smaller chain and the bigger chain and the smaller chain sends results to bigger chain when its done thereby making the work easy and faster also reducing workload.
The OMG plasma is an instance of nested blockchain and it uses atop layer-1 ethereum to conduct rapid transaction and low cost transactions.

State channels:

This process create a two way communication between blockchain transaction channel and off-chain transaction channels.
On state channels there is no need for node verification to approve transactions because they make use of smart-contract to seal off-chain transaction, an example of this is lighting Bitcoin network.
Lighting Bitcoin network is off-chain that doesn't take into consideration of rules and thousands of transactions are conducted at the same time.

Sidechains:

Side chains are alternative chains different from the main chain.
Side chains use self consensus mechanism between the main chain and the side chains, there transactions are publicly known through they record they keep on ledger.

Conclusion

Performing transactions that will be decentralized, secured, and scalable at the same time is a great challenge that have faced blockchain users, but developers have been trying thier best to get solutions that will be efficient to the block chain.

Thank you @nane15 for this lecture.