In this article I will be concluding my write up about Cardstack project. I have covered many topics on Cardstack project, which include:
Cardstack SWOT And Business Analysis
Earn Income Building Dapps With Cardstack
From the comments I receive from my followers both online and offline they want to know how Cardstack will handle one of the greatest problems of blockchain which is SCALABILITY.
To answer the question I will first explain what scalability means and how it affects blockchain transactions.
According wikipedia.org: “Scalability is the capability of a system, network, or process to handle a growing amount of work, or its potential to be enlarged to accommodate that growth” [https://en.wikipedia.org/wiki/Scalability]
Therefore Scalability in blockchain is the capability of the system to handle a growing number of transactions on the network.
Scalability Issues With Existing blockchain.
I will use Ethereum network as an example. Ethereum processes 15 TPS (Transaction Per Second). What this means is that out of millions of people sending transactions on the Ethereum network, Ethereum network can only handle 15 of such transaction per second. "I heard you shout wow!!!" . This explains why your payment takes a little time to be received when you make a transaction.
But the story doesn't end there; as we all know sending transaction on the Ethereum network requires a transaction fee which is regarded as GAS FEE. The story gets funny when millions of people are making transaction at the same time, the network picks transactions that offer to pay higher transaction fee. People who are into ICO investing will be familiar with the word "GAS WAR". This means the higher fee you pay the fastest your transaction completes leaving people with lower amount of fee to the mercy of waiting for so long for the transaction to complete.
Many blockchain have emerged over the years to solve the Scalability issues but their solution has always been the same, they try to increase the number of transaction the network can handle.
But the question is this. Increasing the number of transaction, is it the everlasting solution to blockchain Scalability issues? Obviously the answer is big NO. If you increase the number of transaction today, how about in the future?
How Cardstack Solves Blockchain Scalability Issues.
I will try to explain the Cardstack approach to scalability issues in less technical terms. Normally every transaction that happens on the blockchain happens on the network which is referred to as on-chain. The on-chain comprises of heavy-duty calculations and complex logic which every transaction must pass through before putting the result on the blockchain ledger.
Cardstack has developed a technology called "Tally protocol which will use combination of on-chain stake pools and off-chain heavy-duty calculations and complex logic to allocate mass payments." What tally protocol will do in simple term is to perform those heavy-duty calculations and complex logic on the off-chain using existing GPU hardware and then put the whole result as one transaction on the blockchain ledger. This will remove much work from the on-chain and their by reducing the congestion on the network which will eventual solves the Scalability issues been encountered on the blockchain network.
Find out more about technical detail here https://medium.com/cardstack/the-tally-protocol-scaling-ethereum-with-untapped-gpu-power-d949a441c082
Conclusion
Cardstack have achieved a huge milestone to solve scalability issues on the blockchains and they have set standard for other blockchain to follow suit by making their project an open source which anyone can make use of to solve scalability issues. The blockchain community can't thank Cardstack enough for this amazing contribution and I can't wait to see what the future holds for Cardstack.
Cardstack token generation event starts today May 31, 2018 at 11:00 UTC.
Hard cap of the crowd sale: $8M.
Min Contribution: 0.1 ETH
Max Contribution: 1st hour - 5 ETH, after - 15 ETH.
Find out more about how to participate: https://medium.com/cardstack/contribution-guide-for-the-crowd-fundraiser-8c89a35ff823
Cardstack Official Contact And Channels
Website: https://cardstack.com
Bitcointalk [ANN Thread]: https://bitcointalk.org/index.php?topic=2768237.0
Whitepaper: https://cardstack.com/whitepaper-pdf
Telegram: https://t.me/cardstack
Reddit: https://www.reddit.com/r/Cardstack/
Twitter: https://twitter.com/cardstack
Medium: https://medium.com/cardstack