Ethereum Developers Searching a Solution for the Scaling Problem

· 06 Jan 2018 in Crypto News, Home

Bitcoin is not the only network that is suffering from scaling issues. Ethereum has troubles to find scalability solutions for its network. That’s why the Ethereum Foundation is searching for outside developers to help solving this problem. With the CryptoKitties mania, the smart contracts and the exchange of Ether within the platform, the network is getting congested.

Developers to Solve the Scalability Problem

The nature of the Ethereum’s blockchain makes of it a more secure one, but also slower, creating a scalability problem. All the nodes are required to process each transaction made in the blockchain, meaning that it is difficult to hack it. But also a transaction needs to be confirmed by all the nodes in the network.

Bharath Rao, founder of the Ethereum exchange Leverj, commented:

“This expensive and slow process is justifiable for a global network where all participants are potentially malicious. In a corporate environment, where all participation is controlled, it does not make sense to spend a lot of energy and time for essentially no additional benefit.”

Vitalik Buterin, Ethereum’s creator, said that the the network has increased its size with more and more transactions every single day. The transactions reached the incredible number of one million per day and the scaling process needs to become a priority.

Which are the Possible Solutions?

As reported some days ago by UseTheBitcoin, Plasma is one of the possible answers to Ethereum’s congestion problem. Plasma is a second-layer scaling for the Ethereum protocol. It would help to reduce the network’s congestion by expanding the network’s bandwidth and the transaction capacity.

Another solution is known as ‘sharding’. That means that a small percentage of nodes would be required in order to process a transaction. In this way, several transactions could be processed in parallel at the same time. And according to Buterin, this solution would not reduce the security of the network because it still maintains the desired decentralization and security properties of a blockchain.

The Ethereum Foundation is searching for outside developers to get involved in the development process. These who will help to solve the scalability problem will receive subsidies that range from $50,000 to $1 million dollars depending on the work done.

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