Ethereum is stuck in congestion, how can NGK speed up and break the game?
The more Ethereum is used, the more it becomes congested. Block producer has started to raise the gas limit because of the current congestion, and miners have been raising the limit in recent days, pushing the average across each block above 10m, a 25% increase from the previous month. This allows the Ethereum network to process more transactions per second, although this helps reduce costs, but it also means that blockchain capacity is growing faster, making running nodes more expensive, and it’s difficult to continue running the network, and the network burden is going up in a straight line. Ethereum’s scalability will face a major bottleneck because his blockchain is almost full. The move to raise the gas limit has led many cryptocurrency believers to view Ethereum’s network as centralized, with miners having a high degree of control over the network. The growth of network capacity has allowed the Ethereum block to constantly reach the new gas limit, which, even if the community has repeatedly raised, cannot fundamentally solve the problem of network congestion.
And NGK public chain breaks through the technical bottleneck, greatly reducing the congestion problem, in addition to the iterative update of technology to achieve value transfer, developers on the public chain can create any intelligent contract. In addition, NGK public chain is the first in the industry to propose and implement a unique fork design, distributed storage of data and account transactions, high-capacity up-chain data, secure and assured performance. NGK reduces the complexity of consensus algorithm. We all know that the lower the complexity of the algorithm, the shorter the time to complete the calculation under the same hardware conditions. NGK replaces the POW consensus mechanism with the DPOSS consensus mechanism, and the 21 block producer distributed globally for fast transaction validation together ensures that the end-of-blockchain business application experience is met.
At the same time, compared with other blockchain systems, the NGK also has blockexpansion. NGK uses state channel as expansion scheme, state channel as a more common payment channel, in addition to NGK also uses slice technology, multi-chain architecture to solve the speed problem of TPS. The NGK slice technology only allows each node to process a portion of the transaction at the same time, for example, the transaction initiated by a portion of the account reduces the calculation and storage burden of the node. The idea of NGK multi-chain architecture is to divide the original chain into several chains, each chain is responsible for some storage and computing services, and is scalable, that is, the number of chains can increase according to the increase of traffic and data, the overall performance of the system increases with the increase of the number of chains, the storage space of the system can also expand with the increase of the number of chains.
The characteristics of fast transaction confirmation and low transaction cost on the NGK chain will make its ecology bloom in all fields, and NGK will shine more brightly on the blockchain sector.