This session delves into scaling blockchain protocols, which involves enhancing throughput while preserving essential properties such as dynamic participation, self-healing, resilience to faults, incentive alignment, inclusiveness, predictability, and more. Key topics covered:
- Understanding scaling in blockchain: learn about the metaphor of the blockchain as a pipe, emphasizing the importance of throughput and settlement time.
Essential properties for scaling:
- dynamic participation: engaging with the protocol at any time without prior notice.
- self-healing: recovering from adverse conditions like node failures.
resilience to faults: withstanding deviations in protocol execution.
- incentive alignment: ensuring participants operate in their self-interest.
- inclusiveness: serving a variety of applications globally.
- predictability: knowing transaction times and costs in advance.
- Maximizing throughput: exploring how to utilize the network's capacity effectively, including the challenges of agreement despite deviations.
- Standard approaches and their limitations: analyzing BFT and Nakamoto-style protocols and their impact on throughput.
Potential innovative solutions:
- tiered pricing and blockchain space futures: approaches to managing network capacity.
- layer 2 solutions: payment channels, isomorphic state tunnels, and partner chains to enhance scalability.
- transaction fees: the role of Babble fees and tokenization in managing diverse token holders.
…and much more.
