Bitcoin

Four Ethereum scalability projects were submitted as part of the Reddit competition

Possible escalation solutions were introduced in several projects before the Reddit date on July 31. Most of the contest participants are developers of Layer 2 solutions for Ethereum and Most of them seem to have adapted their existing technologies to Reddit’s requirements.

The conditions of the challenge stipulate that the proposed technologies must be able to deal with them “100,000-point entitlements (coin and distribution points), 25,000 subscriptions, 75,000 individual points burned and 100,000 transfers” over a period of five days.

Each would be a separate type of transaction, which corresponds to a transaction rate of only 0.69 per second. However, since these are intelligent contract calls and token transfers, this can lead to significantly higher gas consumption than with ether transactions (ETH). Reddit’s challenge focuses primarily on the cost of the system.

Aztec proposes a private Zk rollup

Four Ethereum scalability projects were submitted as part of the Reddit competition
Four Ethereum scalability projects were submitted as part of the Reddit competition

Aztec, A data protection protocol based on Ethereum and supported by zk-SNARKproposed a hybrid data protection and escalation solution.

In contrast to its competitors With zkReddit from Aztec, all token transactions in the Ethereum blockchain become privateAlthough Reddit itself will know how many tokens are in circulation. The current proof of concept achieves a rate of 3.2 TPS with an average of 27,500 gas per transaction. This rate is slightly higher than the cost of normal ether shipping.

It can take up to 40 seconds and up to 3 minutes to create a transaction. The project promised that its performance would improve enormously with more iterations.

OMG Network proposes plasma

OMG Network, formerly known as OmiseGosuggested Plasma side chains as an escalation solution.

As Cointelegraph previously reported, OMG’s more viable plasma Addresses some of the reliability issues in previous iterations using the Optimistic Rollups “standard trust” concept.

For the challenge The team created a Chrome extension for interacting with Reddit Community Points. The interface connects users to the plasma network and offers a number of usability abstractions, e.g. B. Automatic extraction of relevant wallet addresses.

Skale proposes a decentralized cloud computing platform

Skale’s proposal concerns the powerful blockchain network, which was primarily developed for cloud services. Unlike other systems in this network No commissions are charged for direct transactions. Instead, DApp developers would pay for the use of resources directly via a prepaid balance system, similar to cloud computing platforms such as Amazon Web Services.

Reddit would have to create its own blockchain in the scale network and reimplement the community points logic. This would cost between $ 350 and $ 44,000, depending on the size of the chain. The system is based on the Ethereum 1.0 architecture and maintains the blockchain capacity that is crossed with the mainnet.

Everest proposes its blockchain network as a second layer

Everest project proposed a proof of concept that relies on the EverChain blockchain to process transactions.

Trading Reddit tokens would cost around $ 0.40 since most of the logic is downloaded to EverChain. Transactions would be transferred from the main Ethereum network to EverChain through a series of oraclesRegister the data in the main network via a storage system based on the Ethereum Name Service.

The project also suggested that subscriptions, biometrics and document-based identification could be done through the platform.

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