Pioneering Elastic Blockchain Scaling Unveiled by Mysten Labs via Pilotfish Prototype
Mysten Labs, a leading innovator in the spheres of distributed systems, programming languages, and cryptography, has recently disclosed a groundbreaking advancement in the domain of blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More scaling. The advancement is based on their prototype extension named Sui, dubbed Pilotfish, which has showcased the enormous potential of Elastic BlockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More Scaling. The key breakthrough of this technology is its capability to boost the throughput of smart contractA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... More execution proportionately to the number of machines deployed. During trial runs, the Pilotfish model exhibited an eightfold surge in throughput, supported by eight machines. This marked an unprecedented instance of linear horizontal scaling for blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More transactions with minimal latency. The successful demonstration of this technology was published in a scholarly preprint named ‘Pilotfish: Distributed Transaction Execution for Lazy Blockchains.’ Unlike its counterparts, Pilotfish doesn’t rely on transaction batching for scaling, rather it attains potential linear throughput scaling sans the latency increase. This innovative system permits a validator to fine-tune its throughput and resource consumption based on the specific use case, by simply engaging the necessary number of machines. It enables more accurate capacity enhancements by dividing the validation function into three primary roles across several machines. The introduction of Pilotfish’s technology could instigate a paradigm shift in the blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More sector, propelling throughput beyond existing limits and facilitating transaction throughput levels that are currently unattainable by other blockchains. Sui, employing this technology, has already set a new record of executing a staggering 65.8 million transactions within a single day.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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