How genEOS Overcomes Blockchain’s Scalability Limits
Typically, blockchain can’t handle an infinite number of simultaneous transactions, just like bridges can’t carry unlimited quantities of cars. This scalability problem assumes that the more events there are for a particular blockchain to store, the longer the blockchain members will need to wait for new data to be recorded. However, with the genEOS blockchain platform, it’s not a problem anymore, and we are happy to explain why.
It Allows High Bandwidth
Continuing our bridge metaphor, a wide bridge would handle more cars than a narrow one. Same way, some blockchains are more capable than others. By supporting a high bandwidth, genEOS can record thousands of transactions per second (TPS) while, for example, the current version of Ethereum can process only 15 TPS.
It Supports Inter-blockchain Communications
If a single genEOS chain is not enough to serve your bandwidth-heavy decentralized application, the platform allows incorporating side-chains.
Let’s zoom in on this process by taking the bridge example. If your bridge can’t handle all the cars which need to go across, you will have to build one more nearby. In this case, drivers will need to choose the bridge with less traffic.
The genEOS blockchain works alike. It allows building as many side-chains as required to make the platform capable of carrying out a near-infinite number of simultaneous transactions.
It Limits the Number of Witness Nodes
An inherent feature of any blockchain is to act as an incorruptible digital ledger. This is possible since a chain’s members themselves must witness every transaction.
Imagine that your blockchain is a room full of people, and all these people need a permit from others to make every single move. When someone wants to change her location, she will need to ask other people for their approval. It means that the number of people who need to confirm her movement will impact her waiting time.
The genEOS blockchain platform requires 21 witness nodes. This number is sufficient for data security reasons, and yet it isn’t too big to make the waiting time swelled-up. This means that as a genEOS-driven blockchain scales, it won’t be requiring more time for witnessing, because it will still be the same 21 nodes monitoring every single record.
How exactly are these witness nodes chosen? genEOS chooses 21 nodes among the most trustable ones in the chain. However, if any violation occurs, these nodes will be replaced with others. In addition, each genEOS chain has 10–20 spare nodes, which can ensure uninterrupted monitoring.
Why Scalability Matters: Potential Use Cases
Financial Applications
When it comes to measuring the speed of new blockchains, experts always compare it with Visa. Visa processes nearly 1,700 TPS. In its turn, genEOS has no particular transaction processing limits.
The processing speed becomes crucial particularly for financial services apps, such as for stock market agents. Here, transaction recording needs to be instant, otherwise, it won’t keep up with the changing stock prices.
Social Networks
Imagine that Facebook, which users like 69,000 posts per second, is blockchain-powered. With a limited bandwidth of such a blockchain, every new like or photo upload would take some time, which collectively would amount to hours if not days. This would affect both the loyalty and the experience of the social network users.
Yet, no such problems can occur if a social network is built on top of the genEOS blockchain ecosystem for the reasons described above.
Summary
When it comes to a quick massive scaling, the genEOS blockchain ecosystem can come in handy. It not only supports a high bandwidth but also allows building as many side-chains as necessary to guarantee a virtually unlimited scalability. In addition, the genEOS approach to transaction witnessing enables easy scaling without any time losses.
