How should a scalable blockchain actually work? ๐Ÿ—‚

How should a scalable blockchain actually work? ๐Ÿ—‚

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?»

๐Ÿ”ตScalability in blockchain means the ability to handle growing workloads and process more transactions per second (TPS)

๐Ÿ”ตEthereum constantly faces scalability issues due to growing network activity, which in turn leads to higher transaction costs

๐Ÿ”ตEverscale is a scalable fifth-generation blockchain with a unique architecture based on smart contracts

๐Ÿ”ตEverscale uses a unique heterogeneous, horizontally scalable blockchain architecture. Here every object (even your wallet) is a smart contract

๐Ÿ”ตSmart 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

๐Ÿ”ตTransactions are generated when smart contracts send messages and are stored in blocks on the Masterchain

๐Ÿ”ตTo 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

๐Ÿ”ตThe 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

๐Ÿ”ตThe 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

๐Ÿ”ตEach 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

๐Ÿ”ตThis 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

๐Ÿ”— Head to the article

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