IDEX, the decentralized exchange (DEX) responsible for more than 40% of all DEX transactions, claims to have created an "endless scaling solution" for the Ethereum network.
In an email sent to Cointelegraph, IDEX states that its system, called Optimized Optimized Folds (O2Rs), reaches the completion of the block in 10 minutes. The company also says it's about 1,000 times faster than Optimistic Groups (ORs), developed by Ethereum's scalable development organization, the Plasma Group, which achieves it in two weeks.
Rollup solutions are scaled by moving calculations out of chain and pushing the result to the grid later. Both O2R and OR most guarantee the legitimacy of the data, with validators analyzing the data published in the chain.
Possible applications are numerous
This technology offers a spectrum of use cases. The difference between the two protocols is that O2Rs only publish data outside the chain unless a validator triggers a data availability check. With this change, the new system has unlimited scalability and can handle much more complex applications.
IDEX Executive Director Alex Wern proposed in a tweet posted on November 6 that on-site payment systems could use O2R in a scalable, non-hold payment service that "could be consistent with Visa performance" . He also suggested that the decision would allow free and instantaneous transfer of digitized video game assets as non-consumable tags.
Scalability is one of the major barriers to blockchain adoption, as they currently tend to increase transaction prices or stop processing them completely when used a lot. As Cointelegraph reported earlier today, the EOS blockchain is currently overloaded with EIDOS airdrop.