ADVERTISEMENT

Will OpenST Mosaic beat Scaling Challenges for Ethereum 3.0?

Must Read

Indian regulators postpone introducing the “anti-cryptocurrency” bill.

The Indian government earlier revealed that it is drafting a bill that would ban the use of all cryptocurrencies...

Chinese Regulators to focus on Crypto Mining Firms in Mongolia

China has been a significant sector for the process of cryptocurrency mining since the beginning. Over the years, China...

Digital Bazaar awarded with $200k by the U.S. Homeland Security

The adoption of blockchain has seen a massive surge in the past few months as more and more organizations...

Industry experts are positioning OpenST Mosaic as the go-to solution for Ethereum scaling and stabilization at Ethereum 3.0 level.  Will Mosaic sustain and deliver as per expectations is a question many stakeholders wish will come true since dApps are driving the blockchain revolution.

Decentralized Applications (dApps) are the latest ‘type’ of unified software package which that is open source platform, cryptographically store operations data on the public blockchain and use native blockchain currency for easy access and use as contributions to its miners. These are typical of three types – with own blockchain, use existing blockchain and run as a layer over it with own protocol ( The Omni Protocol) and in the third type use protocol of type 2 dApp as own protocol but generate local tokens ( SAFE Network).  

Economies with digital resources will engage with dApps of every kind by exploiting the Proof-of-work mechanism native to the consensus processes of the blockchain. In this context, Ethereum has been the market leader in developing a programming language which will allow developers to develop their own dapp on the Ethereum blockchain and therefore build easy economic solutions for businesses and its consumers.

Thus, Ethereum will need a mechanism which allows thousands of such dApps to be running using the mainnet. This mechanism is what OpenST developed Mosaic has to offer Ethereum-based devs.

 

What is Mosaic?

Simply defined it is a master method where the parallel schema is run for decentralized applications for the blockchain environment.

For blockchain developers, the biggest challenge is building decentralized applications for mainstream adoption. The current breed of solution sets – Casper, Sharding or Plasma, are time-consuming and it could well go into 2022 before such massive scaling can happen for real-time conditions.  Hence, there is a demand for feasible solutions where the quantum of scale will remain unaffected despite massive adoption.

 

How will Mosaic tip the balance for scaling?

Mosaic is waiting-to-be tested scaling solution built by OpenST a blockchain company headed by Jason Goldberg.  The CEO believes their new protocol will beat scaling issues “today” and not 2022!

Experts believe Mosaic will match industry needs by as early as 2019 first quarter itself, though there are other protocols – Dfinity, Harmony Protocol, which could be close competitors.

The first reason where Mosaic wins over the other is that it allows double-layer solution or “on chain”ing.

Secondly, by 2019 the number of transactions per second would be as high as tens of thousands.

Thirdly, Mosaic does not require that developer’s fiddle Ethereum and is essentially a “consensus” protocol which runs over Ethereum as meta-blockchain. This means that metachains run in parallel and allow flexible injection of additional space into Ethereum. In turn, every Meta blockchain will have an open staked validator set, allowing for all transactions to be “asynchronously finalized and committed” back on the mainnet.

But the odds are against Mosaic essentially because it was ‘launched’ just in September 2018, at the ETH Berlin show, and is viewed as code which takes over from Tendermint and Casper FFG.

 

A role for Mosaic tailormade

If Mosaic is successful, then it will be the first solution of sorts to allow the change to the second layer protocol on Ethereum, cut down on transactional costs and work on the lines of token sharding at layer 2 for Ethereum v1.0 and scale dApps.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

4 comments

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Indian regulators postpone introducing the “anti-cryptocurrency” bill.

The Indian government earlier revealed that it is drafting a bill that would ban the use of all cryptocurrencies...

More Articles Like This