Despite being fairly nascent, blockchain-based technologies have already proven their merit in a number of different fields including, but not limited to, asset management, cloud storage, governance, logistics, identity management, finance, and other similar applications. Regardless, existing solutions are riddled with inefficiencies, preventing them from achieving further widespread adoption. Implementing a comprehensive cross-chain methodology, AERUM tackles some of the critical challenges in front of current Blockchains solutions, such as the lack of scalability and connectivity.
A Closer Look at Pressing Issues
As mentioned above, two of the most critical issues which require immediate attention prior to even considering any widespread blockchain adoption are the lack of scalability and connectivity.
As it stands, the largest networks are struggling to process the number of transactions, which is only bound to increase as more people start to use cryptocurrencies and decentralized applications (dApps). As a result, blockchains become slow, as well as increasingly expensive. With the current block times, the existing networks are not even remotely close to being able to service millions of users and offer the necessary day-to-day practicality.
As it stands, every single blockchain needs to create an entire ecosystem comprised of its users and dApps, as well as its native currency. As such, chains operate in silos and fail when it comes to communicating with each other. This means that switching or transferring assets from one chain to another is hard if it’s even possible at all. This marks a substantial interoperability challenge, road blocking further adoption of the technology.
An even closer look at both issues reveals a very important conclusion: allowing for seamless connectivity between blockchains could potentially accelerate the network’s scaling capabilities, finally making blockchain a truly practical solution.
Plasma Chains: An Elegant Solution to The Scalability Issue
Solving the scalability issue, AERUM adds parallel Plasma chains in order to limit the load on the main network, while, at the same time, providing an environment for fast transactions.
Every Delegate user is allowed to launch their very own Plasma Cash sidechain in order to offload their dApp transactions while still having assets secured by AERUM’s ATMOS consensus mechanism.
Understanding how challenging this may sound to those who are new to blockchain technology, AERUM simplifies this whole process, allowing every single Delegate to easily launch their own Plasma sidechain through a suite of easy-to use integration tools. Additionally, AERUM’s solution builds onto the typical Plasma sidechain integration thanks to its additional features, which include:
- Short grace periods because of higher performance metrics
- Next-to-free asset exits as well as challenges by design
PlasmaBIT (a software toolkit enabling virtually anyone to launch their own Plasma sidechain on AERUM) makes integration hassle-free.
It’s worth noting that a single custom Plasma sidechain is able to perform a huge number of application-specific transactions or to store large amounts of data without loading the main network.
Building Bridges: Atomic Swaps
As mentioned above, the other main challenge in front of existing solutions is the lack of connectivity and interoperability. AERUM solves this problem as well, thanks to the implementation of so-called atomic swaps. This is an elegant way of connecting different networks and transfer tokens without having to go through a trusted third party like an exchange, for instance.
There are two types of built-in atomic swaps that AERUM takes advantage of:
- On-chain Atomic Swaps
- Cross-chain Atomic Swaps
We’ve addressed this matter at length and you can find all the necessary information here.
The Value of Cross-Chain Implementation
Think of it this way: without having a comprehensive cross-chain approach, each network needs to have a self-sustaining ecosystem in order to be even remotely viable. However, ecosystems are far from being easy to build, meaning that a lot of small chains wouldn’t really be able to further flourish in the long-term.
At the same time, projects which chose to build on the massive Ethereum blockchain, for example, would quickly find themselves captive to transaction fees which are comparatively high and a network which is fairly congested and slow.
AERUM allows you to build your business on a small, speedy network while still enabling you to take advantage of the much larger, Ethereum main network and all of its capabilities. With the implementation of atomic swaps, users are able to transfer value between different chains quickly and effectively.
You can read more about the AERUM network and its capabilities on the project’s official website or stay tuned on its Facebook or Twitter page. If you have any questions regarding the cross-chain approach or anything else, you can ask away or start a live discussion on the official Telegram group.
We are currently in the private round of our token sale — here’s how you can participate. Additionally, if you want to take part in the Whitelist Pre-Sale which starts on October 15th, you can sign up for the list on our official website.
What do you think of AERUM’s cross-chain capabilities? Don’t hesitate to let us know in the comments below!