"Metaverse DNA- multiple transactions can be carried out easily, just in a matter of seconds"
Blockchain technology is a very powerful tool in this new and trendy digital system. It is playing a very significant role in the ongoing revolution which is taking place in the entire world as a result of the transitioning into the digital world. For every system which has adopted it, it has made their operations more seamless, reliable and effective, therefore rendering the traditional technologies, obsolete.But in spite of all these, Blockchain technology still finds scalability and interoperability, very challenging. A lot of the blockchain-based systems are unable to be improved and communicating with other networks is difficult, if not impossible.
So, if these blockchain-based projects and the entire global system is going to succeed in the digital world, we need to find a way around this nagging problem of the blockchain, by so doing, make these blockchain projects as efficient as it was intended to be. To improve the blockchain technology, Metaverse has developed the DNA.
What Is Blockchain Scalability?
Scalability refers to the limitations of a blockchain network when it comes to processing transactions. Scalability doesn’t just have to be limited to transactions of value on a blockchain protocol, it can concern any transaction made on the network — such as those between participants on a decentralized application.Transaction speed, and therefore the ability of a blockchain to scale, is usually judged by how many transactions per second or TPS the network can handle. Most often, when blockchains boast a high TPS, they are making significant compromises in other critical areas — be it decentralization or security.Many blockchain experts call this the ‘scalability trilemma’ or the impossible trinity, the challenge of building a secure and scalable network without becoming centralized and therefore no longer representing a truly distributed network. This issue has become of critical importance for the adoption of blockchain technologies. Although in their current state blockchains are more secure and trusted than traditional databases, their inability to handle high transaction throughput has limited their enterprise use cases.
What Happens When a Network Can’t Scale?
As we saw early on with the Ethereum-based dApp Crypto Kitties, insufficient network scalability can have serious consequences for all transactions on the chain. Crypto Kitties paralyzed the Ethereum network in late 2017 when users were making so many transactions that fees went through the roof and transactions took many hours to process. The cryptographic pets caused a six-fold increase in transactions on the Ethereum network and pushed transaction costs, known as gas, up significantly.More recently, news emerged in August that the Ethereum network was once again reaching the upper bounds of its limitations, with transaction costs rising to such an extent that some users may be unable to afford to make transactions on the network. Speaking to financial news website Bloomberg Vitalik Buterin, creator of the Ethereum protocol, explained how the USD stablecoin Tether was mostly to blame for overloading the Ethereum network.Buterin remarked that the Ethereum blockchain had been ‘almost full for years’, and in the future scalability would have to be a top priority for developers. Since Tether has exploded in popularity as a safe hedge against cryptocurrency’s daily volatility, scalability has suffered. Tether uses a huge portion of the Ethereum network, generating $260,000 in gas fees in just a 30-day period. Naturally, Tether is just one project built on top of Ethereum, and if there is to be any chance of attracting new projects to the network it must be capable of handling hundreds or thousands of applications at once.This issue isn’t limited to Ethereum, although the protocol has been at the bleeding edge of the scalability dilemma for a long time due to its popularity in building dApps and deploying smart contracts. Similarly, other public and permissionless ledgers that are open-source and free to build on also face significant scalability issues. Without a real scaling solution, this issue is likely to persist.
DNA, IMPROVING THE BLOCKCHAIN SYSTEM
DNA (Dualchain Network Architecture), is a system created to eliminate completely, the flaws of the current blockchain system. It can be seen as a superior Blockchain, which is loaded with scalability, decentralization, great speed, and reinforced security.The Dualchain Network Architecture (DNA) is not like the regular Blockchain Network, which keeps struggling with scalability issues and congested system. With the Metaverse DNA, multiple transactions can be carried out easily, just in a matter of seconds. Its speedy operations are pretty amazing, and it employs the use of better and more sophisticated consensus algorithms to make the whole system, highly scalable.
By adopting this the system could be improved when the need arises and full decentralization is achieved. That’s not all, Metaverse DNA is built in such a way that communication of its system with other systems is achieved, without stress. This interoperability makes it possible for data to be transferred between the Dualchain Network Architecture (DNA) system and other systems.
This is indeed a great achievement by the DNA, seeing as it is a great feature that has eluded the Blockchain industry for so long. Furthermore, the DNA is designed with total flexibility, which lets it solve the different problems of the blockchain, separately and effectively.
CONCLUSION
DNA has brought back efficiency into the digital world, and has improved the blockchain system for the better.
For more info about Mvsdna:
Website: http://mvsdna.com/
Twitter: https://twitter.com/mvsdna
Facebook: https://www.facebook.com/MVSDNA
Medium: https://medium.com/metaverse-blockchain
Telegram: https://t.me/mvsdna
DNA White Paper: http://mvsdna.com/MVS%20Dualchain%20White%20Paper.pdf
Metaverse White Paper: http://mvsdna.com/Metaverse-Whitepaper.pdf
AUTHOR
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