 |
August 22, 2018, 02:46:36 PM |
|
It’s good news following aelf’s testnet — they achieved 14,968 transactions per second, an extremely promising result which shows the technology is developing well.
Zhuling Chen, aelf’s COO and co-founder, had good things to say about the results. He said, “We have hit 15,000 TPS, and this is just the beginning. Imagine where we will be in 6 or 12 months’ time!”
One of aelf’s investors is Alphabit Fund, and their CEO Liam Robertson is enthusiastic about the future, saying, “Aelf is currently among the largest holdings in Alphabit’s portfolio, and we believe that the team will continue to be successful in creating the blockchain infrastructure to enable the future of scalable commercial applications.”
Now, following the encouraging start, aelf intend to launch their mainnet in early 2019. It’s a step closer to their ultimate goal of building a system that will help bring blockchain into the physical world.
Right now blockchain technology generates a lot of hype and attention. It has the potential to change the way we do things in many ways, from more secure data storage to decentralized digital networks and transparent record keeping.
But one of the things holding blockchain back from mainstream adoption is the issue of scalability. Right now, most major blockchains struggle to support many transactions per second. That’s a problem, because the technology will need to handle much greater volumes if it’s to appeal to large businesses and organizations.
aelf want to change this, by making blockchain able to handle high volumes of transactions per second. As the testnet results show, they’re well on the way to achieving this goal.
But how do they do it? Their model is based around nodes — the individual computers that make up a blockchain network. In the current system, many blockchain networks are clogged with slow and inefficient nodes, which slows the whole network down and results in fewer transactions per second.
aelf plan to change this. In their system, nodes are made up of multiple computers instead of just one, and they can run in parallel. That means nodes can easily process multiple non-competing transactions at the same time, and verify multiple transactions at once.
This is what seriously increases the transactions per second in aelf’s model, and increases blockchain’s scalability. aelf’s model also takes the part of the node that stores data and splits it from the part that deals with computational processing.
This way, the node is split into two clusters, each with a different role. Every node still contains the complete ledger of transactions, but that ledger is shared between a number of computers.
This system allows multiple tasks to take place at the same time in one node. It’s a much quicker and more efficient way of processing transactions — for reference Ethereum’s blockchain can handle roughly 1000 times fewer transactions than aelf’s.
aelf’s early success is truly exciting for the blockchain space, and is proof that scalability issues don’t have to stand in the way of widespread adoption of the technology.
|
