Blockchain platforms are starting to emerge as a viable solution for businesses looking to scale. However, many companies are still unsure of how to go about scaling these platforms. In this post, we will discuss some tactics that can be used to help accelerate scaling blockchain platforms. We will also take a look at some of the benefits of using blockchain for scalability.
Scalability is the ability of a computer system to handle a growing amount of work (e.g., a database or search engine). Blockchain networks struggle to scale or have low scalability when dealing with massive amounts of data. Blockchain does not make enough effort to change the system to accommodate the growing workload, data, and resource demands (e.g., computing power, servers, or bandwidth).
In the context of Blockchain, the term “scalability” has a much wider range of implications. Unexpectedly, the term “blockchain” has not received a detailed scholarly definition.
It’s essential to remember that in the Blockchain, “scalable” is a comparative term. When a blockchain system is referred to as scalable, it accomplishes a higher TPS than other current systems by modifying certain system properties and its consensus process.
How can you solve a blockchain scalability problem? The most typical response would bring up layer-1 answers. The core blockchain network’s software must be modified in order to implement layer 1 solutions. Thus, layer 1 solutions are frequently referred to as on-chain scaling solutions.
By extending the block size limit or speeding up block verification, layer 1 solutions improve the fundamental properties and features of the blockchain network. Sharding, segregated witness (SEGWIT), and hard forking are three common layer 1 scalability methods for blockchains.
First-layer or on-chain scaling techniques rely significantly on improvements to the core blockchain network to be successful. Off-chain scaling techniques have, however, come into existence as a result of a study into how to enable scaling blockchain platforms.
Off-chain scaling alternatives are part of the second layer, or layer 2 scalabilities, solutions. The primary Blockchain would be “offloaded” of transactions using layer 2 solutions, which are supplemental protocols constructed on top of the main Blockchain.
Therefore, layer 2 solutions can be quite helpful in resolving issues with network and space congestion. Some well-known examples of second-layer solutions are state channels and off-side chains.
Scalable consensus strategies would come up in your search for answers to the question, “How do you address a scalability problem in the blockchain?” There are several consensus techniques that can be applied, all of which aim to improve the agreement-building process. Scalable consensus techniques may therefore offer higher scalability and transaction throughput.
The distributed ledger technology (DLT) ecosystem includes more than just blockchain technology. There are several types of distributed ledgers besides Blockchain. The intriguing fact is that information is organized into a series of blockchains using distributed ledgers rather than the same data structure as blockchain.
As blockchain technology continues to scale and evolve, it is important for platform developers to consider how they can future-proof their applications. Our team of experts at SmartOSC can help you do just that. Contact us today to discuss your project and find out how we can help you with scaling blockchain platforms and get ready for the future.
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