Scaling Po.et to Millions of Users
Let’s cut right to the chase: This week, Po.et merged an important code update that allows us to batch any number of verifiable claims into a single Bitcoin transaction. Why does this matter?
There are many blockers on the road to widespread blockchain adoption. These blockers are heavily covered and critiqued and normal to any consumer application success. They include design and storage. And, by far the most discussed in the blockchain space, the blockers include scale. As we edge closer to the end of 2018, we are seeing the first batch of scalable blockchain apps launched using technology like transaction batching, lightning network, plasma and so on. As of today, Po.et will be among the first scalable blockchain solutions in this space.
The mechanics of the Bitcoin blockchain restrict the number of claims we can hash to the blockchain. Po.et is the decentralized protocol suite for ownership, discovery and monetization of content. That means we need to be prepared to handle a volume of content and information never seen before on chain. Of course, this can’t be done in five to seven transactions per second increments. We need to do better and build a solution that works for all if we want to be the protocol for the world’s creative assets.
Talking to Eric Elliott, our VP of engineering, he explained that now with claim batching implemented, we can batch an unlimited number of claims per bitcoin transaction, which gives us virtually unlimited claim processing bandwidth. Need to hash 100,000 claims per second? We can make that work. This is huge not just for Po.et, but the industry at large. We are building bridges, not moats. There are no competitors, just collaborators. And Po.et is bringing a function to market that enables potential for real scale and real adoption.
These are the innovations and investments needed to bring Po.et and other blockchain projects to the masses. These second-layer solutions like batching and payment channels strengthen the core value to make these products, technologies and feature-sets things that the entire world will use.
With Po.et’s new claim-batching solution, we will be able to handle the volume that comes with creative works at scale. We will now be able to open the door to all media companies, all agencies, all artists and all creators. ALL. No restrictions. This means millions of users writing millions of claims. This is true value for everyone. This is the future of scalable blockchains.
Our road to mainnet has been an exciting journey and this huge milestone by our engineering team is a major step toward launch. There are more git commits, documentations, pushes and pulls than ever before in Po.et’s history. And this is just the beginning.
Also, since we’re a community, please vote for Po.et to be on stage at SXSW. You can find the upvote information here: https://panelpicker.sxsw.com/vote/89341
Thank you all.
