The ICO boom of 2017 and at the beginning of 2018 ushered in a new era of individual blockchain projects that aimed to solve many problems on the Ethereum (ETH) network. The most important have so far released a final product in the form of mainnet, with others in the last stages of the launch of one. This is best exemplified by Tron who recently launched his Mainnet, as well as EOS. Zilliqa, on the other hand, is about to launch his Mainnet at the end of this year or at the beginning of next year.
All these new projects are brilliant. Tron aims to decentralize the web; EOS has the approach of a democratized blockchain; Zilliqa, on the other hand, introduces the concept of sharding and the new Scilla programming language.
Do not reinvent the wheel
But what if the approach to get away completely from Ethereum was wrong? And if it were much wiser to try to improve it by creating a second level as suggested by the co-founder of the Loom Network, James Martin Duffy. The Loom network is building its own layer 2 on Ethereum instead of completely creating a new blockchain network. This then solves the problems of scalability on the network without having to start over.
At the heart of Loom, there is an SDK (Software Development Kit) that allows developers to quickly build their own side chain (or level 2 blockchain) on the Ethereum network without having to understand the blockchain infrastructure. This is more or less the concept of Plasma that has been presented as a way to solve the problems of scalability on the Ethereum network.
In his most recent article on Medium.com, James Martin Duffy states that Ethereum already has the tools and infrastructure they are free to use. Building any new blockchain, will need a construction process of everything from scratch. Why do this when Ethereum is already existing and tested? Summarizes that the Ethereum network has more developers working on it than any other blockchain:
In short, the number of developers joining Ethereum is not only growing, but accelerating.
Scale Ethereum for the game
Another project that is improving on the Ethereum network is Enjin Coin (ENJ). The project is a game project, so there is a need for a high through put. The team had previously mentioned the use of techniques from both the Plasma and state channels in their Efinity project aimed at scaling down the Ethereum network.
Efinity will add the following features to the Enjin ecosystem:
- Transfers and basic token approvals
- Melting chips
- Commitment of multiple tokens
- Metadata attached to game objects
- Bundles of pawns
- Tokens not fungible
- Whitelist update for associated tokens
summing up, there is still much to be achieved by testing the limits of the Ethereum network compared to creating new blockchain networks. This is probably the reason why Tron's Virtual Machine is 100% compatible with Ethereum. It also supports the Solidity programming language. In short, the downsizing of the Ethereum network should be reconsidered as an option before embarking on new blockchain networks attempting reinvent the wheel.
What are your thoughts on improving the Ethereum network? Should we eliminate it or try to improve it? Let us know in the comments section below.[Image courtesy of besticoforyou.com]
Disclaimer: this article is not intended to give financial advice. Any opinion here is purely that of the author and does not represent the opinion of Ethereum World News or its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.