IDEX Introduces Boundless Scaling Solution For Ethereum
IDEX, the decentralized exchange (DEX) handling over 40% of all DEX trades, has claimed to have developed an “infinite scaling solution” for the Ethereum blockchain network.
IDEX, in an email forwarded to Cointelegraph, has stated that its protocol, named Optimized Optimistic Rollups (O2Rs), attains block finality in 10 minutes.
The company also stated that it is roughly 1,000 times quicker than the Optimistic Rollups (ORs) built by Ethereum scalability development firm Plasma Group, which takes two weeks to attain block finality.
Rollup system exponentially increases the transaction processing capability by shifting computation off-chain and feeding the outcome to the network at a later stage. Both O2Rs and ORs guarantee data legality by making validators assess the data published on-chain.
The afore-stated technology can be applied in a wide range of business sectors. The variation between the two covenants is that O2Rs only transfer the data off-chain when a validator initiates a data readiness check. The changes implemented have ensured that the system has infinite scalability capacity and can process several complex apps.
IDEX CEO Alex Wearn tweeted that PoS (Point of Sale) payment platforms could utilize O2Rs in a scalable non-custodial payments facility “that can match the throughput of Visa.” He also proposed that the facility would permit for free, real-time movement of video game assets converted into non-fungible tokens.
Scalability is one of the key hurdles to blockchain adoption, as the technology causes congestion or increase in charges when used heavily. Notably, a few days back, the EOS blockchain got congested because of the EIDOS token drop.