Grabity Blockchain Technology : Simultaneous Transaction
The current speed limit can be seen from Bitcoin (7 TPS) and Ethereum (20 TPS). Like the ‘Crypto Kitty incident’, Ethereum has experienced several paralyses of the network due to low throughput speed when traffic is flooded. In order to be used as real life source of Web, it should be accompanied by a more fundamental structural change than additional development of technology such as SegWit, Lightening, Raiden, and Sharding.
The sequential transaction-processing structure has limitations in the processing speed that cause problems in scalability. The fundamental way to address scalability issue is to handle simultaneous transactions.
The simultaneous transaction processing is to be implemented on the Orbits Network and is in a producer-structure in which a node becomes the transaction generating, processing and verifying user. This solves the problem of scalability because the number of nodes that process and verify transaction also increases as the number of transactions increases, unlike the existing methods in which the network is overloaded as the number of transactions increases.
The simultaneous transaction processing structure overcomes the need to collect and process transactions, creating a single block at the same time as generating a transaction and storing it in each node, that is responsible for processing including itself when the block is validated.
For example; in case of schools, each teacher of certain subject require themselves to mark & check student’s exam papers individually, which can seem very ineffective and time-consuming. However, let’s take it into a situation where students check each other’s exam paper by comparing and contrasting. Of course, there will be the “majority” who will be guess the answer correct, and it will be much effective than having a centralized performance.
Unlike a situation where the number of “nodes or students” increase dramatically, resulting in high fee cost and slow transaction speed, the processing speed will run in much more effective way in which Orbits Network users process and verify each other’s transactions and be rewarded with GBT Tokens.
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