The original blockchain platform on which Bitcoin is built was the first ever and most successful implementation of blockchain. Since the invention went public and enjoyed an exponential adoption rate, many other developers had aim and worked on improving the blockchain 1.0. Ethereum’s Smart Contracts is considered the most significant incremental evolution of blockchain, hence it is referred to as blockchain 2.0.
Skycoin has come up with a new improvement on the architecture of blockchain that it claims to be transformational enough to earn it the moniker blockchain 3.0. The new blockchain platform is described as a network of multiple blockchains, arranged side-by-side like strands, making them infinitely scalable.
This new disruptive approach to streamlining the architecture of blockchain means that new products that are far superior to Bitcoin and Ethereum’s Smart Contract platforms.
How Skycoin’s blockchain 3.0 Will Shape The Future Of Blockchain
The current blockchain architectures, no matter how secure and stable they are, have weaknesses. For instance, Ethereum’s architecture is built in a centralized design. Should the Ethereum blockchain go down, for instance, all the plasma child chains that run on it will also go down. It is also not uncommon for these platforms to report network congestions as a result of Ethereum-child-chains platform design.
Blockchain 3.0 aims to solve this with a new blockchain design where the child-chains in a Fiber blockchain are arranged in a parallel formation. This means that should one of the Fiber blockchains go down, it will not affect the rest of the strands.
With this innovation, Skycoin argues that transaction speeds on the blockchain system will be effected at even higher speed. Also, the on-chain scalability to a new parallel dimension within the Fiber’s network is much simpler. Who knows what opportunities real-time implementation of such a scaling feature bring to the blockchain industry?
Strengths Of Skycoin Fiber Blockchain Platform
One of the strongest features of blockchain 3.0 is that when a strand of blockchain system is added to the Fiber, it increases the strength of the whole network. After all, the strands of blockchain make up the entire Fiber ecosystem.
This means that individuals and companies can get their blockchain projects hosted on Fiber and get to enjoy all the benefits of blockchain including on a fully customizable private highway of blockchains.
The platform will not only necessitate higher speeds, it will also have better memory management. This makes it ideal for use even for small businesses, private and public institutions, and anyone who wants a stable, scalable, blockchain platform that brings autonomy and full control.