Visa transactions per second3/14/2023 Consensus will be handled by the PoS Beacon Chain, data availability will be handled by the current Ethereum chain and execution will be handled by layer 2s. When Ethereum upgrades to Proof of Stake (PoS), expected in September 2022, there will be different chains for each task. A modular blockchain utilises the concept of specialisation and chooses to separate these tasks into separate chains. Over a decade later, there is now the rise of modular blockchain architectures. Since their inception, blockchains have been monolithic, that is, blockchains were expected to perform all three tasks under one chain. Execution is where all the transactions happen, consensus is where network participants agree on what has happened and data availability is guaranteeing that data is accessible to all. There have been many attempts to solve this issue, including plasma and sidechains but these solutions also fell short of the design goals.įrom a high-level perspective, blockchains perform three main tasks, execution, consensus and data availability. While this trade-off has helped to make for a better user-experience, the outcome of centralised blockchains does not allow for the innovation, culture or benefits associated with a decentralised paradigm. This trilemma has burdened the industry for years, with many alternative layer 1s opting to sacrifice decentralisation in favour of speed. We illustrate the blockchain trilemma trade-off below. In this report, we outline the steps Ethereum is taking to scale its blockchain without compromising on the other two attributes. ![]() Traditionally, most blockchains, like Bitcoin and Ethereum, have opted for decentralisation and security at the expense of scalability. This issue, where a blockchain must choose two of these three guarantees, is known as the “blockchain trilemma”. However, the architecture behind these ledgers leads to a trade-off between decentralisation, security and scalability. Blockchains are powerful networks that provide users with a shared digital ledger.
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