[ad_1]
For a whole year, cryptocurrencies have lost value and the two collapses of the market in 2018 have scared even the most optimistic investors. Many now are wondering if crypto it's a sinking ship, and whether or not they should stay around. However, while the bear market has caused a lot of damage to the encrypted world, it has also allowed us to bring out some serious and unanswerable projects.
While there are numerous projects, trying to tackle many problems related to cryptocurrencies, the resolution of the problem of scaling seems to have priority. Keeping coins like Bitcoin or Ethereum decentralized, but making them more scalable and secure at the same time, has been a challenge for a long time. Solving this problem should also address a number of other problems, such as high costs, creating other good products, speeding up the payment process and improving the user experience.
Heter and bitcoin scaling solutions
Although there is a lot of effort to solve these problems, there was also a conflict about the best way to do it. In the case of Bitcoin, some, like the supporters of Bitcoin Cash, wanted the solution to be on-chain (Layer One). Others, like the Bitcoin Core developers, believe that the off-chain solution (Layer Two) is the best.
The on-chain solution would include an increase in the size of the block, which also led to the conflict between Bitcoin Cash supporters. On the other hand, the Layer Two solution includes the Lightning (LN) network, which has seen more progress and acceptance.
In the case of Ethereum, the community has taken a different approach. Part of the solution was to move to the PoS consensus, in addition to developing their own Layer One / Layer Two solutions. The Layer One solution focuses on sharding, which divides the blockchain into many different parts. In this way, each node should perform less processing.
The Layer Two solution includes the status channels of Lignthing, as well as the model of the "chain of children". While solutions may seem simple, they are actually extremely complex. For this reason, they have spent a lot of time and effort, but progress is already evident.
Younger projects that offer modern solutions
While Bitcoin and Ethereum are both struggling to make positive changes to their networks and processes, there are numerous new projects out there that start from scratch. As such, they are aware of the problems of downsizing, but also of modern solutions that have been created to fight them.
One of these projects is Nexus Earth, which uses a multi-level consensus process called Tritium, which can support over 200,000 data requests per second. As for the number of transactions, it can work up to 4,000. In comparison, Bitcoin can handle only 7 transactions per second, while Ethereum can work with 15.
However, while the Nexus solution seems very promising, it is not even remotely up to the one created by the Algorand project. Algorand validates blocks using a randomly selected committee system and not only saves computing power, but also has over 3 million TPS.
Another advanced project is Devvio, which has filed numerous patents for their new protocol, which includes aspects of numerous solutions and concepts of crypto world. However, Devvio claims that he can reach up to 8 million TPS, also putting Algorand in second place. These projects, although extremely advanced, have not attracted so much attention, partly because they have not gone through the ICO to get their funding.
ICO Projects Hard at Work
Of course, there are also projects that have had ICO working hard to find their solutions. Projects like EOS and Cardano are well known, and while they have their problems, they are advancing in the resolution of scalability in their own way.
The same can be said for projects that are trying to reach solutions through cross-asset interoperability, such as Polkadot. Initially it was expected that the fall in prices would have negatively affected these ICO projects, but they managed to resist thanks to the proper management of resources.
While it is impossible to predict which solution will end up being the right option for future currencies, one of these probably dominates over others. When this happens, and scalability problems become a thing of the past, the scrambled will finally be able to move forward.
[ad_2]Source link
