Ethereum Layer 2 scalable solution: the magic of turning a cocoon into a butterfly

Blockchain can trade cryptocurrencies and traditional currencies of the world using the following concepts:

Decentralized services (Defi, DEX, DApp)

Safe, unauthorized / unreliable business by smart contract.

Cryptocurrencies such as Bitcoin, Ethereum, Cardano, Solana, PolkaDot, ChainLink, and Polygon (Matic) have seen strong growth among traders, retailers, and traders. However, the growth of cryptocurrencies today has created a lot of economic issues that need to be addressed by the developers in the community. Application services, especially in conjunction with Ethereum, are the main blockchain technology developed by hundreds of developers.

The prosperity and growth of the Defi ecosystem is a real advantage for the birth of ETH 2.0.

Why the Ethereum scale?

Traditional crypto projects face many challenges in terms of speed and scalability. Currently, the Bitcoin network standard is around 3-7 TPS, while Ethereum 1.0 has an electronic payment network that complements 10-15 TPS and Visa up to 20,000 TPS.

The Bitcoin blockchain network has decided to sacrifice speed for security and distribution so that all transactions can be mined, distributed, and analyzed through a vast network of mining nodes. This process is long and difficult to measure. The “impossible triangle” of blockchain technology has been around for a long time, but the good news is that there are now more phased two-dimensional solutions in blockchain systems designed to overcome the speed and limitations of the underlying network. .

What is the popular Layer 2 scaling solution?

The main goal of the Phase 2 solution is to increase business speed (faster performance) and business performance (better than TPS) without disrupting business or security.

These solutions are commonly referred to as the Layer 2 protocol designed at the top of the key chain, and the Layer 2 scaling solution achieves this point without changing the original decentralization or security characteristics of the block material. origin of the chain.

A number of Layer 2 scaling solutions are currently available, including:

state channel

roll up

scie sab

Parachain

application

Let's talk briefly with everyone.

Event channel:

State channels help improve the efficiency of the network when it comes to managing payment transactions. To do this, it allows multiple users to use direct communication for cryptocurrency transactions.

Bitcoin's Lightning Network is a great example of a cutting edge application.

This channel does a lot of business, but only the first and last change of state is recorded on the keychain of this network blockchain.

Trinity is another example of a cutting edge chain that supports Ethereum, Bitcoin, and Neo blockchain networks.

Roll up:

This is another solution that completes the operation of the key chain (Layer 1), but when the exchange is complete, the exchange data is written to Layer 1. Since the exchange of data is on the layer 1, the accumulation can be performed without modification on layer 1 as a security protection.

There are three main types of cumulation:

Marketing takes place outside of phase 1.

The documents or proof of exchange are at level 1.

The smart rollup contract (Layer 1) can use Layer 1 data transfers to properly control changes made from Layer 2.

These accumulations will help the blockchain to accomplish:

low operating costs

completely open

Business is fast

Winding type: (depending on the safety model)

Zero-Knowledge Rollup (Zk-Rollup): Works off-line and provides proof of on-line usability.

Optimistic stacking: Assume the change is significant and write down the numbers as evidence of deception only if there are errors.

Side chain:

The sidechain is an independent blockchain that works in conjunction with key chains (mainnet like Ethereum, Bitcoin, etc.) and can operate independently as a separate entity with its character and hardware.

Sidechains have their own approval algorithms such as delegated proof of stake, Byzantine fault tolerance, etc. They are usually connected to the mainnet of a given blockchain network using a two-way bridge or a two-way bridge (TWP).

The side chain TWP protocol allows cryptographic assets from the key chain to be exchanged to a second layer that requires the trust of a third party to function.

Currently, the main benchmarks of the sidechain:

Plasma Sidechain: rau Ethereum Network

Liquid sidechain: Bitcoin rau network

Plasma chain:

The plasma chain is a separate blockchain that attaches to the key chain and helps prove fraud (e.g., stack approval) for controversy.

Liquid side chain:

It connects to the Bitcoin keychain and its main purpose is to solve the scalability issue by carrying some authentication and exchanges to other block subchains.

This will allow the keychain to become more commercial and expand the size of the larger network.

Parachain:

The name Parachain comes from the concept of Parachain operating in parallel with a chain of relays. Parachain is typically used on the Polkadot network and is popular among these systems.

Due to the similar situation, the functions of various industries can be combined and the requirements can be met. The equipment is divided so that the product can be more efficient.

Parachain ensures the security of the entire network and can interact with other Parachains via XCMP (Cross-Chain Messaging).

The interconnection of strings was solved using a simple queuing mechanism based on the Merkle tree for security (reliability). However, Parachain can still do its own job to solve specific usage issues, and this is a key concept of the Polkadot system.

request:

Partitioning is a multi-level solution that divides a network into several different groups called fragments. These shards come with different operating modes to operate, which ultimately makes it possible to measure the network's ability to operate on a large scale.

Splitting helps to sharpen to sharpen to sharpen to sharpen to sharpen to sharpen to sharpen to break even to break to break to break to break to break to break to break to break to break on break to break even to reach the break-even point for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking for breaking

A phase 1 measurement tool can help reduce network latency by breaking up the blockchain network into independent fragments. However, sharding also has some security features, and shards are easier compared to the whole network, which should be taken into account.

Popular scaling solutions:

Ethereum 2.0

Polygon (formerly Matic Network, Ethereum Layer 2 extension protocol)

Loopring (exchange protocol using zkRollup)

Ethereum Layer 2 interoperable scaling solution

OMG Network (Layer 2 Capacity Expansion Solution)

PolkaDot (Sharding et Parachain)

Why do i need more expansion plans?

More scalable solutions allow the network to be more reliable while managing bus requirements. It guarantees the fastest and highest available.

Different solutions can be integrated and work together to have a greater impact on future business speeds and network connectivity.

Ethereum 2.0 uses a suite of scaling solutions, none suitable for the larger Vision 2.0.

Additionally, different solutions support different approval processes, and depending on your specific application, you can choose the one that's right for you.