NuGenesis solves the scalability problem
NuGenesis, an Australian blockchain company with nearly 1000 employees and offices located around the world, has revolutionized the blockchain industry.
Scalability issues are not new. The severe congestion of the Ethereum network has led blockchain companies around the world on an adventurous quest for the Holy Grail of web3: a blockchain that combats latency issues and scalability issues. Now NuGenesis has found it.
The NuGenesis ecosystem involves multiple interoperable cross-chains, parallel processing, to achieve unlimited speeds and scalability. It was intentionally designed in a way to meet the massive adoption of blockchain technology. This article seeks to answer the following questions:
- What does it mean to have multiple interoperable chains in a blockchain ecosystem?
- What is parallel processing and why is it necessary to achieve unlimited speed and scalability?
- What are load balancers and why are they important?
- What’s next for NuGenesis?
What does it mean to have multiple interoperable chains in a blockchain ecosystem?
To put it simply, blockchain interoperability means the ability to see, access, and share information across different blockchains on the protocol as well as other networks.
NuGenesis has used its revolutionary interoperability technology to streamline its processes. ensure transparency and improve communication between blockchains and networks. The operability of the NuGenesis ecosystem augments the blockchain network, making the whole process more efficient.
Each protocol in the NuGenesis ecosystem stores different types of data and transaction information. The interoperability of the NuGenesis system allows blockchain users to share and access their data and interact with each other across platforms, protocols, and even entire networks.
What is parallel processing and why is it necessary to achieve unlimited speed and scalability?
The NuGenesis ecosystem enables parallel processing to achieve unlimited speed and scalability. The scalability of the blockchain often depends on the transaction processing capacity of the blockchain network. Generally, it is measured in “Transactions per second” (TPS).
This is evidenced by the current speed and scalability issues plaguing the Ethereum blockchain. The problem with Ethereum is that it wasn’t designed with scale in mind – it just wasn’t part of the initial development considerations.
The NuGenesis ecosystem was designed specifically to combat speed and scaling issues to facilitate global adoption by governments and international organizations. To facilitate such an endeavor, the NuGenesis team knew their system would need to achieve limitless speed and scale – and they did.
The NuGenesis network has a current transaction processing speed of 50,000 transactions per second. Comparatively, the Ethereum blockchain has a transaction processing speed of just 18 transactions per second. Similarly, on Binance Smart Chain, the maximum transaction speed that can be achieved is 300 transactions per second. But with NuGenesis, they designed with the end in mind.
What are load balancers and why are they important?
Generally speaking, load balancers improve resource utilization, facilitate scaling, and ensure high blockchain availability. NuGenesis used load balancers to fragment its ecosystem. “Sharding” is the term used for the process performed by blockchain load balancers, it is also the approach required to design any highly scalable blockchain solution.
What’s next for the NuGenesis blockchain ecosystem?
NuGenesis achieved parallelism, as shown above, by dividing consensus nodes (also called validators) into subgroups (called shards). Each shard can have independent states (different types of coins, smart contracts running independently). The shards have different sets of validators and run on an independently operated shard-specific consensus protocol.
To oversimplify the technology, it allows any Web3 element that wishes to communicate, collaborate, or transact across the NuGenesis ecosystem to be “shared”, which in turn avoids latency and scalability while retaining its underlying blockchain philosophy.
The NuGenesis team works hard. The NuGenesis ecosystem is well advanced, with its native blockchain developed. He patented interactive NFT technology to enable the serialization of tokens and digitally notarized assets. It has created its native token, NuCoin, and is about to launch its native decentralized exchange, LedgerX.
In the long term, the NuGenesis team is creating the ultimate tech city oasis, both in the physical and virtual world. Farley Tech City will be revealed in Farley, New South Whales in 2025. The “city” will consist of an actual city, purpose-built to provide constant data input and feedback, to a virtual twin city that mirrors the physical city absolutely for a seamless transition between the legacy world and the Metarealm NuGenesis.
Disclosure: This is a sponsored post. Please do your research before purchasing any cryptocurrency.
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