bloXroute Halves Block Creation Time on Ethereum Blockchain
- The block propagation time went down to 172 milliseconds from an average of 360 milliseconds.
Decentralized startup bloXroute Labs has reduced block propagation time on Ethereum’sBlockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term to half, thus opening doors to scale the network.
According to a Coindesk report on Wednesday, the advancement was revealed by Akomba Labs, a blockchain advisory firm, which ran bloXroute's "Blockchain Distribution Network" (BDN) on an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term node in Singapore between November 11 and November 27. The block propagation time in the node went down to 172 milliseconds from an average time of 360 milliseconds.
Block propagation time is the time a block needs to be produced and shared throughout the blockchain.
Ethereum’s network is one of the largest public blockchains with a higher transaction cost. The study also concluded the effect of BDN on Ethereum’s block propagation and highlighted its cascading effect.
Not easy to scale a network of this size
Mentioning the challenges of Ethereum blockchain, Uri Klarman, chief executive at bloXroute, told the publication: “Ethereum feels the burn of the scalability bottleneck more than any other blockchain out there...It's losing momentum, it's losing market share. They feel the problem. Most others don't.”
The data for the two-week-long test were utilized from a Chinese mining pool.
The report also outlined that the blockchain scaling startup uses a layer 0 solution to reduce transaction size, speeding up block propagation time.
“We don't send the entire block because if the other gateways know the transaction out of there, you don't need to send the actual data itself – only pointers saying which transactions are there,” Klarman added.
bloXroute first started to test BND on Ethereum blockchain in September, resulting in a 25 percent reduction of block propagation time then. The CEO also revealed that the company is already running BDN on large mining pools with plans to scale up its operation.
Decentralized startup bloXroute Labs has reduced block propagation time on Ethereum’sBlockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term to half, thus opening doors to scale the network.
According to a Coindesk report on Wednesday, the advancement was revealed by Akomba Labs, a blockchain advisory firm, which ran bloXroute's "Blockchain Distribution Network" (BDN) on an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term node in Singapore between November 11 and November 27. The block propagation time in the node went down to 172 milliseconds from an average time of 360 milliseconds.
Block propagation time is the time a block needs to be produced and shared throughout the blockchain.
Ethereum’s network is one of the largest public blockchains with a higher transaction cost. The study also concluded the effect of BDN on Ethereum’s block propagation and highlighted its cascading effect.
Not easy to scale a network of this size
Mentioning the challenges of Ethereum blockchain, Uri Klarman, chief executive at bloXroute, told the publication: “Ethereum feels the burn of the scalability bottleneck more than any other blockchain out there...It's losing momentum, it's losing market share. They feel the problem. Most others don't.”
The data for the two-week-long test were utilized from a Chinese mining pool.
The report also outlined that the blockchain scaling startup uses a layer 0 solution to reduce transaction size, speeding up block propagation time.
“We don't send the entire block because if the other gateways know the transaction out of there, you don't need to send the actual data itself – only pointers saying which transactions are there,” Klarman added.
bloXroute first started to test BND on Ethereum blockchain in September, resulting in a 25 percent reduction of block propagation time then. The CEO also revealed that the company is already running BDN on large mining pools with plans to scale up its operation.