Lack of scalability is a major concern for most cryptocurrency networks. To solve this problem, players in the cryptocurrency space have taken to research and development to explore possible scaling options.
Dash cryptocurrency network and Arizona State University (ASU) will jointly explore ways to solve the problem of scalability that has plagued several blockchain networks. The research collaboration with the blockchain Network and Blockchain Research Lab of Arizona State University have started yielding results and both parties have identified possible opportunities for Dash Network.
The ASU research team, led by Professor Dragan Boscovic, director of the ASU Blockchain Research Lab and research partners Nakul Chawla, and Darren Tapp released a paper which describes approaches Dash could take to increase the scalability of its platform.
The research focused on stimulating different block size scaling scenarios for the Dash network running in different use cases. The team studied three scenarios: traditional full block propagation, compact block propagation, and extreme thin (xthin) block propagation. Boscovic explained that they were able to investigate the scaling limitations of the Dash network while also exploring various block propagation techniques.
Dash Core CEO, Ryan Taylor expressed optimism from the results achieved from the partnership. He commented:
“it means we can continue increasing block size and network capacity to at least five times our current capacity in the near term. This means we will soon have 40 times the capacity of the Bitcoin network and a credible path to scaling further in the future.”
ASU Blockchain Research Lab was established to promote the exploration of blockchain tech and blockchain-based solutions. In January, Dash announced the research partnership and earmarked $350,000 for the research through its unique treasury system. According to Taylor, the outcome of the research will benefit the entire blockchain space. “Scalability has been a key challenge for the blockchain industry, but the lack of academic research into the issue has been notable. The implication of this research is prodigious not only for Dash but for crypto as a whole,” he said.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.