If you have been in the blockchain business since its early days, you must be quite familiar with the scalability trilemma. Metaverse DNA is conceived as a breakthrough to solve this seemingly unsolvable trilemma and to offer a high-performance blockchain system with highly diversified and decentralized ownership and, a high level of defensibility against attacks with a superior security mechanism, and a high degree of scalability that allows future expansions. This is something that has never been achieved before, and this gives Metaverse with its combination of Entropy (ETP) and Dual-chain Network Architecture (DNA) a big leap in the realm of blockchain technology.
A Brief about Metaverse
Metaverse is a public blockchain launched back in 2016 and founded by Eric Gu, one of the earliest pioneers in the crypto business. From its first inception, its primary goal is to allow transactions to be easy, secure and accomplished within seconds — if not milliseconds. In 2018, when the financial market is in recession, Metaverse successfully prevailed by maintaining its rank in the list of 100 best blockchain systems based on market capitalization.
Metaverse distinguishes itself within the flock of blockchain systems by introducing an ecosystem that integrates different innovations in the distributed ledger technologies (DLT) — the technologies that allow the details of the transactions to be recorded in multiple locations simultaneously. It is the Metaverse’s integrated blockchain ecosystem that gives this blockchain system the power to solve the scalability trilemma that has been plaguing all blockchain systems since the dawn of their time.
Why Does the Scalability Trilemma Need Solving?
Before you understand why Metaverse DNA can be a worthy blockchain that you should use, you need to understand first the nature of the problem that it attempts to solve. Has a solution for this trilemma ever been attempted? Why is it so serious that solving it is a big matter?
Scalability trilemma is a term coined by Ethereum’s founder Vitalik Buterin and denoting the inevitable trilemma that every blockchain has to face during its deployment. The trilemma basically signifies that of the three superior features that every blockchain tries to attain, only two can be attained while the third needs to be sacrificed. These tree features are scalability, security, and decentralization. These three features can be explained as follows.
1. Scalability
The blockchain network constantly grows until the upper limit is reached. In a scalable blockchain network, this upper limit is dynamic and can be easily adjusted depending on the desired capacity of the network. All networks, including blockchain networks, can be designed to be scalable to allow them to grow infinitely; however, as the network grows, security, which will be explained below, will have to be compromised.
2. Security
Just like all kinds of networks, blockchain networks are also susceptible to attacks from both external and internal sources. A highly secure blockchain network has a high level of defensibility against such attacks. A decentralized network is generally more resistant to attacks due to the absence of a centralized entity that can be a sweet target. Maintaining a highly secure blockchain network is possible; however, too much focus on security will take its toll on the performance and scalability of the network.
3. Decentralization
Decentralization is the core feature of blockchain systems. One of the primary goals of the conception of Bitcoin is to make sure that transactions don’t have to be controlled and spied on by a centralized entity. Decentralization refers to the diversification of ownership, allowing the system to be owned by a community instead of a central individual. There are, however, costs that must be paid to ensure proper decentralization. The number of resources needed to maintain the network will be vast and ever-increasing, especially for dealing with PoW and other consensus algorithms. This will eventually take its toll on the network’s performance and scalability. And although a decentralized network is less prone to attacks, it is still susceptible to internal attacks like Sybil attack and DDoS.
Virtually all of the blockchain systems that are active today have to deal with this trilemma. Bitcoin has a superior decentralized and secure infrastructure; however, its performance and scalability are among the system’s worst features. It is so slow that block time often lasts up until 10 minutes. Ethereum comes to solve this scalability issue while maintaining a powerful decentralized platform; however, its security is among the weakest. The same compromise also has to be made by EOS, which is scalable and secure but is not considered a decentralized system.
All of the three features above are considered essential, but it is impossible to attain all of them without making a sacrifice until Metaverse arrives with its dual-chain network architecture.
How Does Metaverse DNA Solve the Scalability Trilemma?
The scalability trilemma can never be solved through a single-layer approach. Metaverse thus attempts a solution for this trilemma by integrating itself with the dual-chain network architecture, adopting the highly scalable DNA chain and combining it with Metaverse’s decentralized and secure blockchain. Metaverse uses the greener and more secure delegated Proof of Stake consensus algorithm instead of the energy-inefficient and energy-inefficient Proof of Work. With this scenario, Metaverse DNA successfully maintains a perfect balance between the blockchain’s scalability, security, and decentralization.
Key decisions can be made quickly and efficiently within Metaverse DNA’s decentralized system. It accommodates 529 regular nodes that will then elect 23 supernodes that are responsible for making key decisions. This ultimately also ensures the security and efficiency of the whole system.
Metaverse thus solves the trilemma by making its chain work in parallel with the highly scalable DNA chain, which can process transactions not in minutes or seconds, but in only 0.4 seconds. As a comparison, Bitcoin and Ethereum accomplish the same task in 10 minutes and 10 seconds respectively. How does Multiverse establish communication between the two chains? Here is where KrawlCat Generalized Oracle plays its role. This oracle ensures that the chains can operate in unison to offer their respective benefits to the system. This multi-layer approach is proven to be effective for a more balanced scalability-security-decentralization infrastructure.
