NULS partners with Bitmain for cross-chain development Binance collaborates with Neufund to invest in Founders Bank Exclusive: Zebpay stands strong, RBI’s cryptocurrency-ban may be lifted Ontology [ONT] adds another brick to its Co-Builder Plan $1.5 billion Bitcoin [BTC] fraud caught by Chinese police: World Cup 2018 Ontology [ONT]’s second scheduled airdrop announced by Binance Bitcoin Cash [BCH] blockchain-focused patent acquired by nChain Bitcoin [BTC] vs Warren Buffet: A battle for the ages with a $1.2 billion prize Bitcoin [BTC] will solve all mainstream currency problems: Uber, Airbnb investor Bitcoin [BTC] hailed as the ‘best’ cryptocurrency by Wall Street executive Verge [XVG] debit cards to release, Redditors speculate and Verge hints Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], featuring app ‘Unicorn Revolut’ expands Litecoin [LTC]’s Charlie Lee calls Lightning Network the ‘ultimate decentralized exchange’ XRP Ledger closes 40 million ledgers, community rejoices Ripple’s leadership changes, David Schwartz as CTO, Kahina Van Dyke as new SVP Ripple’s first client: Executive speaks about the journey from 0 to 1 Ripple’s SVP says regulation is their “biggest risk”, speaks up on signing banks Joseph Lubin, co-founder of Ethereum, announced in the RISE conference held in Hong Kong, that the Ethereum blockchain has now entered the second phase of its development. RISE’s post on Twitter | Source: Twitter The Ethereum Foundation has spoken about their focus on the development of solutions like Plasma and Sharding recently.
These developments are aimed at increasing the capacity of the Ethereum blockchain network to up to one million transactions per second. Joseph Lubin addressed this saying that emphasis is being laid on the Ethereum blockchain protocol’s main chain that is to be employed as a trust system.
These two-layer networks will primarily focus on the heavy load of processing large amounts of data. “Ethereum is moving into a space where it can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year.” Much like Bitcoin’s Lighting Network, Plasma scaling solution is a technique through which off-chain transactions can be conducted.
It operates as a multi-chain protocol with a network of minor blockchains, while simultaneously processing small payments. The integration of Sharding and Plasma is aimed at creating an ecosystem that allows decentralized applications [dApp] to function without the issue of scalability.
On 9th July, Augur, a decentralized platform built on the Ethereum blockchain, launched their smart contracts on the Ethereum mainnet. This project was the result of years of development, with the smart contract protocol having taken longer than any other project that exists today. Read more from ambcrypto.com…
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