Failing to solve the blockchain resizing problems definitively could have far-reaching consequences.
Unless you take actions, it is likely that transactions will take longer to process. In a digital economy where legal payments can be sent and received instantly, blockchain platforms must offer the same if they are considered a viable alternative, even if they offer a number of other interesting advantages. Otherwise, there is the real risk that even the most ardent enthusiasts of the crypt will completely abandon this technology.
The numbers of diminishing users could see the prices of the main cryptocurrencies collapse, with resources once of thousands of dollars depreciating in a small part of what they were before.
It could also mean that centralization is here to stay, with all the imperfections that have motivated the dawn of the blockchain community in the first place. From here, who knows how many brilliant cryptography platforms may never be realized.
Fractonet worked on a "complete redesign" of the blockchain to eliminate scalability problems once and for all. With a block size of 1.5 GB, the startup says it has managed to process 33,888 transactions per second during the functional test. The company claims that its protocol can store data on the chain and transactions with real data immutability, which means that companies no longer have to entrust sensitive information to third parties.
He created a new protocol called RIFT to facilitate the synchronization of this data, and states that the larger block size will reduce the costs associated with transactions and data mining. Fractonet states that the base of the blockchain is already functional, paving the way for various functionalities such as DApp, sidechain, smart contracts and the possibility of having data accessible only through a private key with different access levels.
Exclusion of responsibility. Cointelegraph does not endorse any content or product on this page. While we aim to provide you with all the important information we could obtain, readers should do their research before taking any action related to the company and bring full responsibility for their decisions, nor can this article be considered as an investment advice. .