EOS Scaling Issues and Their Effect On the Blockchain

0
86
EOS Scaling Issues and Their Effect On the Blockchain

The EOS blockchain seems encountering substantial scalability concerns that are preventing its capability to safely host decentralised applications on the network. The issue is that the blockchain has actually grown so drastically that just a handful of block manufacturers can pay for to save the whole thing.

Considering that a lot of dApps link specifically to among these manufacturers, if they were to decrease as an outcome of financial or technical concerns, or were to begin acting maliciously, the applications referencing them would likewise decrease. Such plainly centralised points of failure are definitely an issue for the task moving forward.

EOS and its 4TB Blockchain Issue

The EOS blockchain has actually constantly been marketed as the fastest blockchain in the cryptocurrency area. Nevertheless, it is emerging that by optimising for speed in such a method, the dependability and security of the task might be in concern.

Including a brand-new block every half a 2nd has actually suggested that the EOS chain is now over 42 million blocks. This 4TB of overall information seeks simply 8 months of operation too. Compare this to Bitcoin’s blockchain, which is at 200 GB after 10 years, and Ethereum’s, which is 150 GB after 3 months.

To save and reference such an unwieldy blockchain is not inexpensive. This expense has actually triggered a number of the block manufacturers that the EOS network counts on to pull out of saving the whole chain.

There are obviously just 5 block manufacturers now saving the whole EOS blockchain: EOS Sweden, GreyMass, CryptoLions, EOSTribe, and EOS Canada. Just 2 of these, according to the Tweet listed below, are utilized to verify blocks too, given that the others are not considered to be among the 21 “leading block manufacturers” utilized to validate deals. A number of the others left when the chain quickly grew from 1TB to 2TB at the end of in 2015.

The following video enters into more information about the problem:

Corey Miller, an executive at crypto possession financial investment company BlockTower Capital, highlighted the scaling problem himself just recently:

Work Being Done to Financing Keeping the EOS Chain

According to actions to this Tweet and referenced in the EOS Weekly video above, there is work being done to assist divert more funds to obstruct manufacturers so that they can pay for to save the whole chain.

One possible service is to charge dApps for referencing the complete blockchain history. Another is to utilize an application of the sharding innovation being pursued by Ethereum core designers. A last possible service referenced by EOS Weekly is to utilize the soon-to-be-released LiquidApps Network. This would include moving the duty for remembering the blockchain from the block manufacturers to nodes supporting the extra layer. They might then monetise their operation straight through staking arrangements with those dApps requiring to access their storage.

Associated Reading: Eos to Be Used by 300 Million Users on Tapatalk, Real Mainstream Use Case

 Included Image from Shutterstock.