The topic of modular blockchain in 2023 is fiercely disputed in the current cryptocurrency ecosystem.
Ever since the first cryptocurrencies appeared, monolithic blockchains have been the industry standard; however, this is gradually changing. As there is more and more proof that monolithic architectures perform poorly, modular blockchains trends are becoming ever more common. In the present cryptocurrency ecosystem, modular blockchain in 2023 is a passionately debated subject. Due to security worries and new trust presumptions connected to a dispersed settlement and data availability layer, the Celestium concept for a modular blockchain architecture has faced a lot of resistance.
Blockchains that are modular enable decentralization, security, and scalability. This translates into customers being able to avoid things like Ethereum’s expensive gas fees or Bitcoin’s lengthy confirmation times in the real world. Assigning a specific purpose or duty to each tier or component promotes security, effectiveness, and speed.
For instance, the Ethereum network, which is debatably the most well-liked blockchain among programmers creating decentralized applications (dApps), is credited with introducing the Web3 community to advancements and bringing a crypto trend like smart contracts despite upholding strict security requirements. A different type of Layer-2 (L2) blockchain, which relies on the Ethereum Mainnet (Layer-1) for its security but processes transactions on different third-party networks to enhance throughput speeds, was introduced in order to address Ethereum’s scalability problem.
The modular blockchain layout is substantially more adaptable than the monolithic blockchain. It is made to give miners access to functionalities that aren’t available in the monolithic blockchain. A few basic traits are shared by all cryptocurrency blockchains, such as guaranteeing data availability, security, agreement, and transaction execution. Blockchains often handle this type of operation at the same layer. By shifting work to different layers, the modular style of blockchain architecture provides greater efficiency.
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