Monday, October 15, 2018

A new breakthrough in cryptocurrency scalability

A new breakthrough in cryptocurrency scalability

A new breakthrough in cryptocurrency scalability


The research team has introduced a new scalability solution that will allow 17,000 transactions per second on the Ethereum network.

17 000 transactions per second Ethereum promises a breakthrough in cryptocurrency scalability


Researchers Ethereum Harry R., Yeongdong Fu, Philip Castonguay, Alex and the fantastic Barry Waythat recently introduced a sidechained. This is a new scalability solution outside the Ethereum blockchain based on Snark.

The method will allow you to transfer tokens and ether outside the network at a transaction speed of up to 17,000. This speed can sravnits indicator Visa. If developers manage to implement the solution, it will allow blockchain and cryptocurrencies to move to a new level.

In late September, the founder of Ethereum offered to scale Ethereum with the help of ZK-SNARKs technology, which was originally used in the ZCash network.

"We can significantly scale transactions for the transfer of assets in the Ethereum blockchain without second-level solutions (channels, Plasma), using zk — SNARK for mass transaction validation," Vitalik Buterin wrote.

Also yesterday, the network reported that the co-founder of Blockstream mark Friedenbach came up with a method of scaling the first cryptocurrency, which does not require a hard fork. The specialist describes the scaling method, according to which the sharding technology can increase the volume of transactions by 3584 times compared to the current level and improve censorship resistance.