2018 has been a year of the bear, stablecoins, "exciting" new projects that claim to cure cancer and can reach 1 million tps. But there has also be a lot of projects trying to solve the scalability problem.
In a series of topics, I will briefly discuss projects that I believe are truly exciting and can make a significant difference to the space. The first is Bloxroute.
What it is:
Bloxroute is a blockchain scalability solution that can scale blockchains like Ethereum (Yes, Ethereum) to thousands of transactions per second. It does this on-chain without making changes to the protocol, unlike most other scalability solution projects which are mostly off-chain solutions.
Benefits:
- The solution cannot censor blocks or wallets or miners as the blockchain distribution network has no knowledge of the blocks it's propagating.
- It can work on any blockchain.
- Miners will earn more rewards. They can also opt to pay a small fee to bloxroute to fit in even more transactions to earn even more rewards
- Users will send transactions quicker and cheaper by using this solution.
- Mainnet will be released this year.
Drawbacks/question I'd like to ask the team:
- Will the code be open source? What stops others from copying the solution?
Summary:
There are a lot of projects experimenting with scalability and most of them hope to release their mainnet in 2019/2020. Most of them are all layer 2 solutions. Bloxroute solves the bottleneck problem at the base layer and there's an incentive for users and miners. That is why it is unique and interesting. They say the mainnet should be released next month. This solution will hugely benefit Ethereum & Bitcoin. Check out their website to fully understand the solution: https://bloxroute.com/