Solution to Blockchain Scalability Problem Proposed by Ex-Microsoft Worker

• A public blockchain project called Asensys, led by an ex-Microsoft employee, has been proposed as a solution to the scalability issue of blockchain.

A former Microsoft researcher has claimed to have solved the blockchain scalability problem. Asensys, a public blockchain project led by JiaPing Wang, unveiled their website 11 months after presenting the concept of a blockchain which is scalable. The Asensys protocol created by the researchers has shown more capacity than Bitcoin and Ethereum.

When asked how they were able to achieve this, Wang said:

“Asensys is able to essentially ‘divide and conquer’ all network actions, thereby reducing unnecessary redundancy.”

The Scalability trilemma refers to the problem of not blockchain not being decentralized, secure and scalable at the same time. An increase in volume has often compromised one of the other aspects. To get around this problem, Ethereum and Buterin have been working on something known as sharding, which essentially means the Ethereum nodes will process a transaction only partially. Bitcoin developers, on the other hand, have come up with solutions such as Lightning which records certain transactions off-chain.

Asensys, however, has come up with a solution that involves neither sharding nor Lightning. A conference paper termed “Monoxide: Scale out blockchains with asynchronous consensus zones” suggests the creation of various ‘zones’ within the network which will work independently and asynchronously to remove the duplication of efforts built into blockchains and instead spread the workload around.

 

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