Dash Partners with Arizona State University to Research and Analyze Blockchain Scalability
Dash and Arizona State University Blockchain Research Lab have partnered to research and analyze on the possible solutions to the scalability issue. The partnership aims to work on identifying potential opportunities and also work to root out existing and potential roadblocks towards achieving real solutions to this challenge. Dash blockchain will greatly benefit from this project since they will have an opportunity to advance their network from the resulting findings and solutions.
Dash, which is an open source peer-to-peer cryptocurrency went live with the news tweeting on their official page about the project and about the partnership. “#Dash & #ASU #Blockchain Research Lab Discuss New Research on #Scaling Solutions #DigitalCash.”
About the Duo Partnership Research
Dash and ASU have already published a research paper dubbed ‘Block propagation Applied to Nakamoto Networks.’ The paper shows a combined analysis of potential scaling solutions scenarios using the Dash network as the testing platform. Furthermore, the duo has also discussed in this paper the various challenges inherent in the Proof-of-Work (PoW) blockchains.
The CEO at Dash Core Group, Ryan Taylor asserts that scalability is a significant aspect in the blockchain and needs to be addressed accordingly. He says that the scalability has been a real challenge in the blockchain industry and that the lack of academic research to address this problem has been notable. He continues saying that the significance of this research is not only for the benefit of the Dash network, but for the entire crypto industry.
The research, if it brings about lasting scalability solutions means that we can now increase network capacity and block size to at least five times its existing capacity. Bitcoin capacity will potentially increase its to 40 times its current size, and there will be a window for further growth. Ryan finishes by saying that it is this kind of growth that the crypto industry requires to make these currencies viable for every day daily transactions.
Every discussion concerning crypto and blockchain as well as other Nakamoto networks, improving scalability and increasing the size of these networks is always the focal point.
The Director of the ASU Blockchain Research Lab, professor Dragan Boscovic, who is also a professor in the Ira A. Fulton Schools of Engineering also considers scalability issues as a major challenge towards the mass adoption of cryptocurrencies. He says that the scalability question has been a limiting factor for most if not all digital currencies. It is due to this challenge that there have been doubts whether these coins can achieve mass adoption.
The professor continues to say that through the research program, which was made possible by the ASU partnership with Dash, they have been able to investigate scaling limitations within the Dash network, while at the same time exploring other blockchain expansion possibilities. He says that the team is excited to continue further with the research that will enable them study other pertinent aspects including the operation of mining pools and the function of multi-tier networks.