This Is How Ethereum Will Scale : Ethereum
I am the developer of a dApp named KryptoWar , it's a war game based entirely on the Ethereum Blockchain. Today I want to spend some time exploring the scaling possibilities of the Ethereum Blockchain and how this could take dApps to a new level. This article was originally published here . When it comes to the Ethereum Blockchain, scaling is the most important issue to take into consideration. The blockchain technology has expanded rapidly over the last two months, as you can see in the transactions chart here . On November 11, there were less than 500,000 transactions per day. But today, the network is approaching almost 1,500,000 daily transactions. With the number of transactions rapidly growingthe Ethereum networks scaling is now facing the true test of whether or not it can handle rapid user-growth. Since its development, the goal of Ethereum has always been to develop a cryptocurrency with the capacity to grow into a mainstream global currency. Unlike many other blockchain technologies, the founders of Ethereum primary intentions were to create a currency that would change the worldrather than focus on profits. Thats why I was really excited to hear Ethereum founder Vitalik Buterin say it will just take a couple of years for the Blockchain to replace Visa at TechCrunch Disrupt 2017. Setting a goal like Buterins is extremely ambitiousbut is it possible? How exactly can the Ethereum Foundation scale their digital currency platform onto a level that can provide millions of transactions per second? Contrary to popular belief of blockchain, Ethereum has the potential to scale on-chainrather than exclusively off-chain. In this article, I use on-chain scaling to refer to methods that can increase blockchain network capacity. This is one of the main ways that Ethereums Continue reading >>
How To Scale Ethereum: Sharding Explained
rauljordan.com | Harvard University | Thiel Fellow | Blockchain Engineer | Ethereum Protocol Developer How to Scale Ethereum: Sharding Explained The scalability debate is at the front and center of the crypto community. With major occurrences such as the Cryptokitties debacle clogging up the entire Ethereum network over the span of a few days, it is well-known that the biggest, public blockchains in their current state do not scale. So what are the approaches the community has decided to take? The solution is two-fold. The first approach is to improve scaling through off-chain solutions, also known as layer-2 scaling, where some transactions are handled off the blockchain and only interact with it sparingly. The other approach is to modify the design of the protocol altogether to fix the fundamental problems with parallelizability the blockchain faces. Unfortunately, many of us protocol devs often look at these problems and instantly feel put off by the immense difficulty they pose. Although were still in the early stages of Ethereum, the community is filled with some of the smartest minds in tech, with so many innovations happening at breakneck speed. Its easy to feel that there are smarter devs out there that are probably way more qualified to tackle monumental problems such as scalability, but this feeling is whats holding us back. Truth is, the community is willing and ready to help anyone who wants to get involved, and yes that includes YOU! This post will break down the current approach the Ethereum core team is taking towards sharding and expose its current limitations and paths for improvement. By the end of this post, youll know enough to explore this problem on your own and who knows, maybe youll be the one to build the first sharding client! As the number of Continue reading >>
How Will Ethereum Scale?
Like other public blockchains, ethereumintends to support as many users as it can. The problem is that, today, we don't really know the limits of theplatform. Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa. This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics. While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn't unique in regards to scalability. As disappointing as that might sound, there's hope in proposed solutions that havent made it into the official software yet. Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority. The problem is, its tricky to preserve this balance while also growing the number of users (especially to the point where average people can use the system to purchase coffee or run applications). That's because ethereum depends on a network of 'nodes', each of which stores the entire ethereum transaction history and the current 'state'of account balances, contracts and storage. This is obviously a cumbersome task, especially since the total number of transactions is increasing approximately every 1012 seconds with each new block. The worry is that, if developers raise the size of each block to fit more transactions, the data that a node will need to store will grow larger effectively kicking people off the network. If each node grows large enough, only a few large companies will have the resources to run them. Despite the inconvenience, running a full node is the best w Continue reading >>