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XTRABYTES.TODAY Network Congestion from CryptoKitties Impossible with XTRABYTES

Discussion in 'Blog Posts' started by XTRABYTES, Dec 9, 2017.

  1. XTRABYTES

    XTRABYTES Well-Known Member

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    An Ethereum-based digital gaming app called CryptoKitties is creating extensive network congestion on the smart contracts platform. Designed to breed virtual cats, CryptoKitties transactions now constitute nearly 20% of Ethereum network traffic. The resulting overcapacity has lead to a surge in transaction costs for Ethereum users.

    Perhaps worse, the failure of Ethereum to adequately handle CryptoKitties has reinforced a quiet skepticism among its users. At first glance, the notion that a single decentralized app can severely test a blockchain platform with a $45 billion market cap seems somewhat preposterous. However, the troublesome reality currently confronting Ethereum suggests that allowing distributed apps on its platform may not be entirely appropriate. If Ethereum’s troubles fail to abate, the hundreds of cryptocurrencies now intent on using the Ethereum platform to produce a distributed app may need to look elsewhere. Which prompts the question whether any blockchain platform is safe from such a fate. Enter XTRABYTES.

    Nearly ready to launch, XTRABYTES is a fully decentralized, infinitely scalable and immensely secure blockchain platform using a unique Proof-of-Signature consensus. Given that the XTRABYTES platform is currently aiming to conduct 10,000 transactions-per-second (compared to Ethereum’s 20 transaction/second), network congestion from CryptoKitties would hardly be a problem.

    Moreover, the XTRABYTES team is planning to introduce dynamic transaction costs based on block size. As XTRABYTES’ Lead Developer Borzalom has stated

    Why do we need the blocksize limit? Because the bitcoin and other blockchain networks use the wrong protocol. If the block size is too big then broadcasting the new block is problematic. Why do we need to broadcast the blocks? Because all clients copy the blocks to the storage of the computer. The XBY network stores the blocks inside of the network so we don’t need to broadcast the blocks. This is the reason why it’s possible to have unlimited blocksize.

    Thus, simple transactions will always cost about the same as the block space will be small (so transactions that do not use much data – such as CryptoKitties – will be fairly inexpensive). In contrast, transaction blocks filled with terrabytes of data will be far more expensive. In order to facilitate such large transactions, XTRABYTES will be using its appropriately named X-VAULT for data storage.

    The creativity and forethought expended by Lead Developer Borzalom and the XTRABYTES development team is nothing short of amazing. The relatively new Ethereum (Cryptocurrency 1.0) has already revealed its shortcomings. Its only expected that creative innovators will seek to overcome them and create vastly superior systems. This is what XTRABYTES is focused on doing and what the cryptocurrency world will soon witness in real time.

    The post Network Congestion from CryptoKitties Impossible with XTRABYTES appeared first on The XTRABYTES News Blog.

    Continue reading...
     
    immunotherapy, nickdegre and trutbert like this.
  2. Jonathan

    Jonathan New Member

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    Awesome article.
    And now lets look at the market capitalization of both networks.
    Ethereum 42 Billion $.
    XBY 17 Million $.
    Hope everyone loves to eat cake, cause we will get a huge piece of this tasty cake.
     
  3. inthearena

    inthearena Member

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    Interesting article - thanks for posting!
     
  4. AkaApocalypse

    AkaApocalypse New Member

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    So, I'm new overall to crypto, and the whole "10000 transaction vs 20" is confusing to me. Does that mean that 10000 transactions per second can be processed, versus 20? And, well, compared to bitcoin does that mean we don't have to deal with three-hour long transactions anymore while big bitcoin holders pay their big-buck transaction fees to transfer their coin around?

    And yay, dynamic transaction costs! Wait, is that proportional or inversely? And what are the benefits to such an implementation?
     
  5. Muhammad Haris

    Muhammad Haris Member

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    you heard it right, the network is capable of executing 10000 transactions per second. After registration of all static nodes, you transactions will be processed almost instantly.
    The fee will be proportional, and it will charge some percentage on your actual amount.
    XBY eliminates weaknesses of a lot of past coins, which are market leader now a days. Surely XBY will take their place in near future.
     
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  6. Muhammad Haris

    Muhammad Haris Member

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    A very nice article, xby will share some of etherum market for sure. :D
     
    thestatistacs likes this.
  7. BenjaminHannon

    BenjaminHannon New Member

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    "Nearly ready to launch", this gives me the feels.

    Boy oh boy I can't wait.
     

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