Today, as part of the Everscale Deep Tech column as an example, we propose to speculate on the question «How should a scalable blockchain really work?»
๐ตScalability in blockchain means the ability to handle growing workloads and process more transactions per second (TPS)
๐ตEthereum constantly faces scalability issues due to growing network activity, which in turn leads to higher transaction costs
๐ตEverscale is a scalable fifth-generation blockchain with a unique architecture based on smart contracts
๐ตEverscale uses a unique heterogeneous, horizontally scalable blockchain architecture. Here every object (even your wallet) is a smart contract
๐ตSmart contracts exchange messages with each other, and the instructions in those messages are executed by the Threaded Virtual Machine (TVM). They can change their state as well as the state of other smart contracts
๐ตTransactions are generated when smart contracts send messages and are stored in blocks on the Masterchain
๐ตTo achieve scalability, Everscale uses partitioning into shards that handle messages from multiple smart contracts. Depending on the current needs of the network, the shards can be split or merged
๐ตThe Masterchain handles random user transactions and can use multiple shards to handle load spikes. It plays a crucial role in reaching consensus on the state of the entire chain, as it contains block hashes of other shards
๐ตThe Everscale architecture supports up to 232 Workchains with 256 shards in each — this scalability allows millions of transactions per second without negatively impacting network fees
๐ตEach Workchain can be independently configured and run its own virtual machine, commission policy and currency. Workchains can work in parallel and communicate with each other using an inter-chain communication mechanism
๐ตThis approach to flexibility and scalability makes Everscale blockchain a suitable platform for a variety of applications, such as payment or transportation systems, social networks or food delivery
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