We already discussed the present blockchain limitations in the previous article. In recent years, many innovative strategies have evolved to speed up the blockchain, including sharding, sidechain, state channel, Layer 2, new consensus processes, and many more.
"For minimizing transaction delays and high transaction costs in applications like DeFi and NFT, few methods have considerably increased the throughput of blockchain. The environment has been revived while more users have benefitted from lower transaction costs and speedier transactions."
When it comes to the conventional big, complicated, and high-frequency computational applications like gaming, e-commerce, and social networks, these methods mentioned above offer no assistance at all. The finest of public blockchain can't manage it for large-scale multiplayer online apps even if it just serves one application.
What gives birth to this predicament? Traditional blockchain technology architecture is the primary culprit. To maintain the decentralization of Bitcoin, the initial version of blockchain allows nodes to join freely and without authorization. On the other hand, consensus needs a set of rules to ensure that all nodes accept the same ledger. A game-theoretic model underpins blockchain's proof-of-work consensus process, known as PoW.
The consensus process was later used by Ethereum and improved upon. Decentralized systems can obtain agreement utilizing this approach, which has been in use for more than ten years without the need for a central authority. However, the PoW consensus process provides security for Bitcoin and Ethereum. Still, its sluggish consensus time and severe energy consumption can no longer match the scalability demands of more extensive decentralized applications due to the system's limits.
Since then, several consensus methods have been developed, such as PoS (Proof of Stake), which considerably enhance the speed of consensus in a more energy-efficient manner, but they all follow the route of "finding consensus among untrusted nodes." In the same way, no matter what voting technique is used, it takes longer to reach an agreement among several individuals than it does to conclude by oneself. As a result, the decentralized application will never be as powerful as a centralized program that has to compute on its own. Unless this issue is addressed, decentralized applications will not provide the same level of service as their centralized counterparts.
Decentralized applications' transaction performance has been substantially improved by capacity extension techniques like sharding and Layer 2, but the underlying principle of "finding consensus among untrusted nodes" remains the same. As a result, the prior contradiction continues to exist.
To construct the ultimate form of the Internet — the "Metaverse," it is required to develop large-scale, decentralized applications quickly. Even while blockchain technology has the potential to completely decentralize big, complicated apps while still providing users with a good user experience, this has proven difficult in practice. We must find a fresh and innovative way to handle the situation.
The metaverse should also be made up of several apps, and each application should be able to talk to the others. On the other hand, existing apps are all housed in a single, isolated location and cannot communicate with one other. Users' actions and the value of their digital assets are severely restricted as a result of these constraints. The metaverse cannot be fully realized until the ecological and economic systems of the many metaverse applications are linked with a swift networking component.
"The consensus method in the standard blockchain is entirely altered by Ethanim's innovative approach, which differs from existing blockchain platforms. Trias Layer -1, a self-developed blockchain solution with more than ten years of technological accumulation in trusted computing, serves as the core of its architecture."
Making nodes trustworthy and executing computation is a major shift from the typical blockchain implementation method of "finding consensus among untrusted nodes." No longer are considerations like the number of nodes and the complexity of processing a role in how quickly nodes can come to a consensus. Consensus can be reached almost rapidly since it eliminates the blockchain network's consensus problem at its root.
"A massive number of big decentralized apps may be deployed and run at the same time, but just a single decentralized application needs to deal with the high volume of concurrent users. TPS is no longer going to be the blockchain's Achilles' heel."
In addition, Ethanim ingeniously modularizes edge computing, virtual GPU, decentralized storage, and other approaches and integrates them with pluggable blockchain to provide the integrated solution of the metaverse. Thanks to this feature, large decentralized apps may benefit from the same speed, user experience, and even development mode as traditional centralized ones. It's possible to create a robust and lucrative ecosystem with a wide range of compatible protocols and resources. This can aid metaverse implementation.
The next article will discuss a more in-depth technical understanding of Ethanim.