By Lior Yaffe on ALTCOIN MAGAZINE

Random Thoughts for a Rainy Saturday Morning

Consensus

PoW — Works but wastes energy.

NXT PoS — Works.

Everything else — unnecessary complication.

Multichain Architecture

Single token on a single chain does not scale.

Off chain solutions are complex and fragile, currently limited to value transfer a.k.a bitcoin lightning.

If you don’t have a multichain solution on testnet now — you have a problem.

Ardor is the only true multichain solution on mainnet.

Random Thoughts for a rainy day — Photo by Michael Podger on Unsplash

Scaling

1M TPS — Google, Whitepapers and fairy tales.

1K TPS — Single node with empty blockchain. Good for tweets not for production use.

100 TPS — Realistic goal for a truly decentralized blockchain.

Visa’s network is an outdated dinosaur unrelated to any blockchain scaling discussion.

Transaction Fees

If your end users pay transaction fees in another token, good luck.

Ardor style sponsored fees are the way to go. Users can focus on the app and not worry about crypto exchanges and tax payments. These will be covered by the business sponsoring the app.

Smart Contracts

“Ethereum style” smart contracts are not so smart.

Requiring every node to run every contract is a huge resource drain. This design also prevents contracts from interfacing with the outside world i.e. oracle contracts.

Storing the state of the contract inside the contract is a security risk. It also complicates upgrades.

Developers should not be locked into a proprietary development language and tool chain with uncertain future.

Ardor lightweight contracts are Java based, stateless and not part of the consensus. Built using standard tools. Ideal mechanism for Oracle contracts.

Privacy

There’s a Goldilock zone.

Too little privacy — blockchain can’t be used without exposing sensitive info.

Too much privacy — money laundering, drug trafficking and darknet use cases.

Use cryptography wisely for private key protection, message encryption, optimization, signature validation but don’t use it everywhere.

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Blockchain Tech was originally published in ALTCOIN MAGAZINE on Medium, where people are continuing the conversation by highlighting and responding to this story.