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Blockchain Scalability-Scalability is a long-standing and oft-discussed blockchain issue, for which many Cryptoverse residents have been searching a solution. Today we look into two of the latest ideas that aim to solve the problem and make transactions faster and more efficient.
Asensys, a blockchain system created by former Microsoft lead researcher JiaPing Wang, is designed to avoid repetition in existing blockchains, namely Ethereum and Bitcoin, and surpass them both by increasing network performance. The startup says that the workload is distributed across independent zones that comprise the network. The tests, they claim, have already shown a lot more throughput and capacity.
The Asynchronous Consensus Zones have been proposed in a paper presented by Wang and Hao Wang of Ohio State University at the 2019 the USENIX Symposium on Networked Systems Design and Implementation (NSDI). It scales blockchain system linearly but reportedly without compromising decentralization or security, claim the authors, by running numerous parallel and independent zones – instances of single-chain consensus systems.
The consensus happens independently within each zone with minimized communication, which partitions the workload of the entire network and ensures a moderate burden for each individual node as the network grows.
“What we discovered through comprehensive research and analysis,” Wang says, “is that the limitations of scalability in blockchain networks are not based on the type of consensus algorithm deployed, as many would believe, but on the fact that every single node must duplicate the entire network each time a new block is added.”
Co-founder of Ethereum Vitalik Buterin and Ethereum developers are trying out sharding as a solution, where nodes process only parts of transactions, while Bitcoin developers are working on layer 2 solutions, most well-known of which is the Lightning Network, and this enables certain transactions to be processed off-chain so the network wouldn’t get clogged.