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Ethereum works at full capacity.
At least, this is according to Afri Schoedon, the release manager for the software provider etereum Parity Technologies. Above Thursday, warned because of the downsizing challenges faced by the second blockchain by market capitalization: "Stop deploying dapps in ethereum".
The tweet caused a ruckus, with the creator of ethere Vitalik Buterin intervened to defend the protocol, others have stigmatized the project and have indicated other blockchain as the best solutions.
And while a series of scaling technologies (both layer-one and layer-2) are underway, the blockchain company OpenST thinks that the new protocol, Mosaic, is ready to tackle these problems "here and now, rather than just many years in the future ", according to Jason Goldberg, CEO of OpenST.
In an exclusive interview with CoinDesk after the project was first revealed at ethereum hackathon ETHBerlin, Goldberg highlighted that Mosaic does not require fundamental changes in the underlying ethereum network to be implemented.
Currently, the OpenST team is gearing up to launch a preliminary version of Mosaic in just three months.
Once fully tested, Mosaic could then act as a scalability solution used before other proposed solutions, such as sharding and zk-snarks, which require modifications to the blockchain ethereum, dubbed layer-one, as opposed to changes on auxiliary out-of-chain systems in running on a secondary layer on top of ethereum.
The protocol, created in collaboration with Benjamin Bollen, developer of the former Hyperledger, allows you to move tokens into an auxiliary system where most heavy computational tasks are completed and then asynchronously commit to the blockchain etereum live, or mainnet.
This is done through what Bollen describes as the "gateway protocol". In fact, any ERC-20 token, which is the widely used standard for new forms of cryptocurrency on ethereum, is able to move through the gateway protocol including OpenST's Simple Token (OST) – which has raised more than $ 20 million in a fundraiser of the ICO. year and customer-specific tokens based on OST.
Being a company that provides non-blockchain services with full tokenization services, Mosaic assists developers building token-based economies on ethereum to scale to millions of end-users in the immediate before the official ethereum lineup is run .
Goldberg told CoinDesk:
"We felt it was important to show that traditional companies today can move their transactions on open, cryptographic and audible auxiliary chains … and then have an economic purpose by following many of the Casper writings and referring to public etereum."
With this, according to the OpenST team, the proposed protocol reaches two objectives.
First, it increases network capacity or throughput in processing larger volumes of token transactions. Secondly, Mosaic reduces transaction costs by consuming smaller amounts of gas, which is the unit of work calculation on ethereum.
The history of origin
Taking a step back, to understand how the protocol works it is useful to note which work is based on Mosaic – the work of Buterin and the researcher ethereum Virgil Griffith.
To be more specific, it was the work of both on Casper FFG, which offers both the consensus algorithm and the demonstration of stake and sharding as level solutions one to improve the underlying framework of the incentives governing the blockchain ethereum. .
These are the ideas that have led Bollen, chief architect of Mosaic, to the realization of how to protect off-line auxiliary systems on ethereum without sacrificing a high volume of transactions or low costs.
By defining the seminal work as a "trailblazer", Bollen described to CoinDesk that in order to increase the network's ability to finalize transactions, the Mosaic protocol essentially created an "opt-in system" that allows developers to transfer and complete all of the computational work required outside the chain, before putting these transactions back into the blockchain ethereum in batches.
Bollen calls this "token sharding" – based on one of Casper's early proposals, in which smart contracts are finalized without the strict requirement of full replication of nodes to maintain the integrity of the blockchain.
Although, unlike Casper's proposed sharding behavior that automatically balances out-of-chain loads, Mosaic requires developers to choose the most convenient fragments on which to run tokens.
Mosaic also implements a proof-of-stake incentive structure, in which transaction validators cast votes, rather than solving computational puzzles, to process transactions and get rewards. As highlighted by Bollen, Casper includes important "cutting conditions" that effectively punish dishonest voters in the system and false disincentive claims.
As such, besides being immediately useful in the short term, Bollen states that Mosaic will act as an important "testing ground" for ethereum. contributing to the research of both sharding and proof-of-stakes aimed at finally reaching the mainnet scalability for the effect of billions of end users all over the world, which, as Bollen describes, is a very demanding effort.
Speaking at the high levels involved in releasing game trials and sharding together on layer one, Bollen said:
"If we do it [Casper] at layer one, we need to get all the right components and if it fails, we have ruined ethereum. We have a chance to do it well. That's why it's a much harder, much longer roadmap. "
Going deeper
The mosaic is based on two main components.
First, it uses a pool of public validators to protect token transactions on the auxiliary system and commit to the mainnet at regular intervals.
However, in order for the validators to do so, they must be able to simultaneously observe the tokens aimed at ethereum, as well as the corresponding results of the transfers of tokens on the auxiliary chains running in parallel.
This can be done through the gateway protocol which absorbs the so-called "state root" of both systems. A status root refers to a hash or unique string of alphanumeric symbols that identifies and stores the entire state of a system, including balances and contract code.
By absorbing the state roots of both systems, the validators can then construct what Bollen calls "metablocks", verified by the validator pool through a two-thirds majority vote.
With votes cast and metablocks confirmed, the validators reach "optimal goals" to take the finalized state of the meta-blockchain built and report it on ethereum mainnet.
As a result, it is here that, as Bollen describes, "magic happens".
Analysis of the Mosaic protocol. Image courtesy of OpenST
Although the underlying blockchain ethereum is "severely limited in its capacity", with Mosaic's mosaic sharken process, the ability of the mainnet to finalize transactions at any given time is multiplied. Furthermore, using the game test – a less costly computational algorithm – the costs associated with finalizing token transactions on ethereum are also significantly reduced.
Backup plan
The second key component of Mosaic is the way in which the whole system is protected at its core by ethereum.
Although computationally intensive, the guaranteed validity of transactions on ethereum is exploited as a failure for users of OpenST to rely on. For example, if the validators are unable to reach a two-thirds majority agreement on the status of an ancillary chain, the blockchain ethereum will be consulted.
Bollen told CoinDesk: "If an auxiliary chain stops and does not reach consensus anymore, we have the living proof of work system to continue and recover the last committed state".
Furthermore, until 2020, Mosaic will have an integrated "security track" that will prevent validators from borrowing tokens and prematurely leaving unconfirmed transactions.
However, the OpenST developer guarantee is that by 2020 Mosaic would be completely decentralized and "the system would be fully released to the validator pool to determine its future".
They will do all this by keeping their jobs with a growing customer base made up of companies like LGBT Foundation, PassKit and Animoca Brands, among others.
Like most developers, Goldberg and Bollen realize that work, even with a successful launch, is never performed, arguing that it is not just about developing more complete tokenisation solutions for business, but also updating ethereum to better serve developers of decentralized applications and users.
According to Bollen, pushing Mosaic as a larger scaling solution simply means making ethereum "safer for the future" and giving it "a much longer and more profitable way to change the Internet and the way we organize".
To this end, Goldberg said several scalability solutions could be implemented that will be "workable and interesting for different types of customers".
He concluded:
"This is not a right or wrong approach, but a working community that is improving the ethereum chain of origin, as well as providing options on how to scale the existing ether".
Mosaic image through Shutterstock
The leader in blockchain news, CoinDesk is a point of reference that is committed to the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.
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