Scaling Solution
What scaling solution is available out there?
TL;DR — summary
L2 solutions are a set of solutions built on top of a public base chain to improve its scalability, efficiency, and output.
Scalability has to do with the ability of a technology to be used by an increasing number of people.
In crypto, scalability refers to the number of transactions that a network can process in within a specific period -usually per second.
A scaling solution is fundamentally a method of enabling a network’s expansion, in respect of improved efficiency and output without hurting the existing operation.
In crypto scaling solutions typically take the form of Layer2 (second layer) protocols — like sidechains and off-chain layers that are merely to ameliorate throughput.
L2 solutions comes in different approach or methods
- State channels: a payment channel where individuals can create multiple communication link (e.g Lightening Network, Bitcoin, Ethereum, Neo, etc.)
- Sidechains: Uses independent consensus mechanism in connecting two or more blockchains. (e.g Plasma — ethereum-based, Liquid — Bitcoin-based, etc.)
- Interoperability: the use of protocol compatibility in tnteracting between two or more chains (e.g 😫)
- Sharding: Splitting network into partitions or groups called shards and assigning nodes to a specific shards with the idea of processing each shards in parallel. (e.g Proof of stake )
- Rollups: uses the recording of transaction rollups in batches on a base layer and executing them off-chain and resubmit to the base chain as a single transaction. (Optimistic rollups — Arbitrum, zkSync, etc).
So far, Rollups appears to be the most promising contemporary scaling solution for Etheruem — especially the Optimistic Rollups.
Tomo chain — 2000 TPS, tx fee lower than $0.01
BinanceSmartChain — 100 TPS, tx fee at $0.20 to $1.00
Ethereum — 15 TPS, tx fee at $5 to $500 now
Solana — 65,000 TPS […fetching fee ]
Polkadot — 1,000 TPS, […fetching fee ]
Cardano — 1000 TPS […fetching fee ]
Tron — 1,000 TPS […fetching fee ]
Bitcoin — 4.6 TPS […fetching fee ]
Ripple — 1,700 TPS […fetching fee ]
The data also shows Solana has the lowest average fee per transaction and latency relative to the other blockchains.
