Home AI Web3 Applications Will Increasingly Be Built on Custom Blockchains, Says Ankr Product Manager – Bitcoin News Interview

Web3 Applications Will Increasingly Be Built on Custom Blockchains, Says Ankr Product Manager – Bitcoin News Interview

0
Web3 Applications Will Increasingly Be Built on Custom Blockchains, Says Ankr Product Manager – Bitcoin News Interview

Source: news.google.com

As blockchain developers compete for the traffic and resources of their respective dapps (decentralized applications), the downside of this, according to some in the industry, can be a poor user experience which, in turn, undermines the cause of the mass adoption. So unless today’s blockchains, both layer 1 and 2, can overcome annoying problems like high gas fees or slow network speeds, it will be hard to convince traditional organizations that they need the technology, according to Ankr’s Josh Neuroth.

Overcoming Blockchain Scalability Challenges

In cases where attempts are made to improve the transaction performance of a blockchain, history has shown that compromises may have to be made that could affect the security of the chain. Alternatively, developers may consider overcoming this problem, known as the blockchain trilemma, by using sidechains or application-specific blockchains (Appchains).

As Josh Neuroth, head of product for Web3 decentralized infrastructure platform Ankr, explained, the widespread adoption of Appchains may be the spark needed to fuel and ultimately onboard billions of new Web3 users. In addition, Neuroth also suggested that Appchains can be used as tools that help developers “overcome scalability challenges by working alongside other scaling solutions like Layer 2.”

To learn more about Appchains and how they can be a potential solution to the so-called blockchain trilemma challenge, Bitcoin.com News had a chat with Neuroth. Below are Neuroth’s comments.

Bitcoin.com News (BCN): What are application-specific blockchains and why do you think they are necessary?

Josh Neuroth (JN): Application-specific blockchains (also known as subnets, sidechains, or application chains) are chains dedicated to serving only one decentralized application. They are sub-networks of ecosystems like BNB Chain, Polygon, or Avalanche that support an additional network of these “sub-chains.” Application chains give developers the best in security, scalability, and customization without the need to build a whole new Layer 1 chain from scratch.

BCN: What distinguishes you from the Layer 1 and Layer 2 chains?

JN: By building on top of an existing L1 or L2 blockchain, developers compete for traffic and resources with thousands of other projects. This can lead to a poor user experience with slow networks, high gas fees, and a lack of customization. Alternatively, Appchains dedicates all the resources and infrastructure to support an app, leading to a vastly improved user experience.

BCN: Why do advocates of custom blockchains think they will play a key role in mass adoption of Web3?

JN: Millions of new and excited Web3 users are disappointed by high gas rates, slow transactions, attacks, and complexity. With a new solution to these scalability issues, developers can focus on providing optimized Dapps that make every user on the web want to participate, so that Web3 can eventually onboard billions of new users. In short, custom app chains will start to deliver all the benefits of Web3 with a better user experience than even the established Web2 apps.

BCN: How do your Appchains help dapp developers build custom blockchains that are uniquely tailored to their app?

JN: Ankr Appchains is an end-to-end engineering service that allows projects to choose their specifications for a new blockchain (based on ecosystems like BAS) while the Ankr team gets to work building it. Ankr Appchains are highly customizable for custom programming languages, consensus mechanisms, development frameworks, and security features to fit any industry or use case.

BCN: How useful are they for transaction-intensive use cases like defi and gamefi?

JN: Application chains are best suited to the types of use cases that have extremely high requirements for bandwidth and scalability. Building a game directly on Ethereum would mean a rather slow and expensive experience for your players in terms of fuel fees. With a game built on an app chain, you can provide an always low (or even zero) gas experience with lightning-fast transactions that don’t distract from the game. The same principle applies to every new Defi or DEX protocol.

BCN: Are custom blockchains the answer to the so-called blockchain trilemma?

JN: Application-specific blockchains address and provide a solution to every aspect of the blockchain scalability trilemma. They improve decentralization by creating a ‘blockchain internet’ with new validators and nodes for diverse infrastructure. They improve security by allowing any customization or enhancement to security frameworks that developers can imagine.

And lastly, Appchains are extremely good at improving scalability by ensuring that Dapps can support almost any number of users or transactions. Application chains are not the end of the complexities of the trilemma, but they are an additional tool that helps us overcome scalability challenges by working alongside other scaling solutions like Layer 2 that are already doing a great job of improving. Web3 performance.

What are your thoughts about this interview? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively about the economic problems of some African countries and how digital currencies can provide an escape route for Africans.







image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read More at news.google.com