MAJOR OBSTACLES TO WIDESPREAD ADOPTION OF BLOCKCHAIN TECHNOLOGY
Introduction
For a decade, our society is gradually growing interests in blockchain technology. People are becoming are smarter and interconnected due to technological trends. The two major keys to being considered in the smart applications such as blockchain-based security solutions for industry 4.0 based applications are Security and Privacy. In this article, we will discuss the major obstacles that should be resolved in the blockchain technology through global consensus with the used of parsimony. As blockchain technology evolves, new problems and challenges emerged. There is a need to provide a swift and suitable computation environment for scaling, validating payments, and creating decentralized applications.
Blockchain technology refers to the technology that uses decentralized consensus to maintain networks, and cannot be controlled by any bank, corporation, or government. It is transparent, trustless, and a publicly accessible ledger. The blockchain ecosystem is gradually evolving and they are issues arising such as poor scalability and lack of a solid development environment. At the moment, Cartesi are taking measures to overcome these issues.
Cartesi
Cartesi is a layer-2 platform for the development and deployment of scalable decentralized applications.Cartesi provides a Linux runtime environment for scalable blockchain Dapps. Complex and intensive computations run off-chain while retaining the security guarantees of the blockchain.
Cartesi is designed to achieve local (instead of universal) consensus over its computations. The main contribution of Cartesi to the blockchain ecosystem is to solve the problem of poor scalability and lack of a solid computation environment.
Scalability
For the widespread adoption of blockchain technology, scalability is a challenge. Firstly, when it comes to solving problems of scalability, they are two stages of solutions to be considered. The layer 1 and layer 2 solutions. In the first stage called the layer 1 solution, different measures are being taken to tackle this challenge, including the optimization of block sizes, sharding, and the Delegated Proof of Stake (DPoS).
The layer 2 solutions, such as plasma, side chains, TrueBit, or state channels move as much data and computation as possible off-chain.
The plasma is a sub-chain like the layer-2 approach where a number of contracts run on top of the root chain (the main Ethereum blockchain).
The essence of state channels is to set up a communication channel between participants so that state updates and transaction processing can be offloaded on them.
Solid Computation Environment
On-chain or off-chain computations that are influenced by a transaction must be reproducible by all parties playing a validating or justifiable role. Reproducible computational models must be fully specified and agreed upon. Virtual machines (VMs) were used by blockchain platforms to solve this problem of lack of a solid computation environment when processing smart contracts. These Virtual machines are reproducible, but also domain-specific. They also offer native supports for features of useful smart contracts. (e.g. cryptography and authentication).
To increase the rate of productivity and widen the scope of blockchain development, a reproducible computational model that supports modern operating systems such as Cartesi needs to be employed.
Cartesi is committed to making off-chain computations portable across different blockchain platforms thereby solving the challenges related to scalability and computation environment.
Get connected with Cartesi
Website: https://cartesi.io
Twitter:https://twitter.com/cartesiproject
Telegram:https://t.me/cartesiproject
Discord:https://discordapp.com/invite/Pt2NrnS
GitHub: https://github.com/cartesi
