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Sharding technology makes 100x scalability and seamless interoperability a reality
Disclosure: The views and opinions expressed herein are solely those of the author and do not represent the views and opinions of the crypto.news editorial.
On the first Prime Day of 2023, Amazon facilitated selling 375 million items. A single store, during one of the busiest days of the year, offers maximum convenience to its users, reflecting decades of infrastructure development in web2.
Contrast this with the infinite possibilities of a unified web3 ecosystem, which, although widely talked about, seems increasingly difficult to achieve, characterized by fragmented systems, long transaction times and prohibitive costs.
Web3 advocates have long sought to accelerate efforts to mirror web2’s seamless experience and benchmarks. The biggest obstacle to this dream is ensuring scalable networks that maintain decentralization as they grow.
Enter sharding technology. It has been widely talked about and tested globally, and now, finally, it is a reality. From what the developer community has seen so far, he could be the messiah the web3 community has been waiting for. And rightly so!
Sharding technology at work
Let’s accept it. The existing web3 model is relatively slow, inefficient and expensive. It’s difficult to convince most of the world’s Internet users, not to mention businesses and even the developer community, to quickly switch from the simplicity and convenience of web2.
The new emergence of sharding technology now makes it more than an urban legend. While industry titans have talked quite a bit about this technology, the launch of the recent Sovereign Chains is the first application of its kind to incorporate this innovative technology. One that is intended to advance the use cases of leading L1s and hundreds of L2s looking to solve for scalability and interoperability.
Fundamentally, sharding involves dividing the network into smaller, more manageable parts, maintaining security, speed, negligible costs and energy efficiency even in times of exponential activity. Theoretically sound, its practical implementation in Sovereign Chains now demonstrates that it can solve web3’s most pressing challenges, in a way that is cost-effective, developer-friendly, and extremely resource-efficient. This means creating a blockchain capable of scaling 100x compared to Ethereum or Bitcoin, in a fraction of time and energy.
One of the biggest industries that will benefit from sharding technology is decentralized finance. It’s no secret that to effectively compete with the current financial system, web3 must offer ten times superior solutions in every measurable aspect. By implementing sharding technology, you can ensure that end users not only achieve parity with the legacy system, but also enjoy improvements such as globally equitable access, open playing fields, transparency, value creation, privacy and security .
The technology is built in such a way that allows major defi platforms to no longer be bound by blockchain-specific limitations, enabling interoperability with other defi products on any main chain, eliminating liquidity fragmentation and unlocking significant improvements in trading efficiency. capital.
Beyond defi, applications of sovereign chains based on sharding technology extend to the gaming, healthcare, supply chain, education, government and enterprise sectors. In games, for example, high throughput and low latency, combined with adjustable transaction fees, enable radically different business and gameplay models. Developers can introduce innovative in-game reward structures, new economies, auctions, time-sensitive drops and more, ensuring seamless user experiences regardless of scale.
Understandably, this lays the foundation for the first interconnected web3 ecosystem, which inherits features like on-chain 2FA, native standards, user-friendly aliases, and more, to address critical challenges hindering widespread web3 adoption.
Driving adoption from scratch
To gain ground for any major breakthrough in the web3 world, the first step is to trust the developer community. Almost the opposite of how consumer products in the traditional world target end consumers. What is common, however, is the goal of making people’s lives easier by acting on the needs of early adopters.
Composability of digital assets and unbreakable security are other key benefits offered by the scalable architecture of sharding technology, which allows developers to focus on innovation rather than infrastructure.
Sharding technology provides a solid, scalable foundation for building the next generation of dApps and L2 interoperability with major cryptocurrency chains such as Bitcoin, Ethereum, and Solana. Something that developers really need to leverage the strengths of multiple ecosystems to create more versatile and powerful products for last mile user consumption.
Merging various chains into an ecosystem goes beyond traditional resource linking. Advanced smart contract capabilities, custom VM environments, and comprehensive SDKs enable developers to build, test, and launch solutions that work natively across multiple chains more efficiently. This holistic approach reduces barriers to entry, inviting more talent, including the current web2 developer community, to explore blockchain technology without the limitation of past iterations.
Advancing the Sovereign Chains case
As the spotlight shines on the need for scalable web3 infrastructure in a world where security and data concerns are rapidly imploding, expect to see networking features like parallel processing, confidential transactions, or VM-specific enhancements that they can extend intrinsic functionality.
Achieving the seamless and expansive reach of existing web2 technology while promoting collaboration across chains is an ambitious but achievable goal. Through sharding technology and the introduction of sovereign chains, it is now possible to not only dream but actually build a scalable, secure and cost-effective architecture capable of supporting the creativity of current and future web3 developers.
Luciano Mincu
Luciano Mincu is a visionary infrastructure engineer, co-founder and chief information officer of MultiversX. He has extensive experience developing end-to-end startup solutions and designing and implementing highly complex network infrastructures and architectures. Lucian’s ability to solve complex technical challenges has been instrumental in establishing MultiversX as a top 100 L1 project processing a maximum of 263,000 transactions per second, with a growing ecosystem of over 8,200 dApps and 3,200 nodes. Prior to co-founding MultiversX, Lucian’s entrepreneurial and technical skills were put into practice through the co-founding and development of ICO Market Data, a platform for discovering ICO opportunities, filtering scams and supporting blockchain projects.