🚀 Web3 Applications Face Speed Challenges Due To Data Indexing
#Web3 #DApps #DataIndexing #Blockchain #Pangea #Throughput #Ethereum #Layer2 #DevCon2024 #Starknet #ZKsync #Solana #TransactionsPerSecond #Interoperability #ETH #SOL
According to Cointelegraph, decentralized applications (DApps), also known as Web3 applications, often experience slower performance compared to their Web2 counterparts. This is primarily due to the need to organize blockchain data from multiple sources. Maxim Legg, CEO of Pangea, a decentralized data indexing solution, highlighted that data indexing could address the speed bottleneck faced by Web3 applications.
Legg explained that data from RPC nodes, smart contracts, and other blockchain infrastructure can accumulate to hundreds of terabytes on high-throughput chains. Indexing involves organizing this raw blockchain data to facilitate efficient recall later. He emphasized that this is a significant infrastructure issue that should be resolved once, rather than individually by each DApp developer. However, many Web3 developers are compelled to create in-house indexing solutions, which are often inefficient, overly complex, and time-consuming.
The throughput of a blockchain, measured in transactions per second (TPS), directly impacts the volume of on-chain data that must be indexed by a DApp interacting with that chain. In October, Ethereum co-founder Vitalik Buterin outlined plans to scale the Ethereum base layer and its layer-2 scaling solutions to process over 100,000 transactions per second combined. These plans also aim to enhance interoperability between Ethereum and its numerous layer-2 networks.
At the DevCon 2024 conference, StarkWare CEO Ben Sasson mentioned that Starknet, an Ethereum layer-2 scaling solution, aims to quadruple its TPS within three months, potentially rivaling the Solana network's throughput. Similarly, the layer-2 solution ZKsync is targeting higher throughput, with developers aiming to increase it to 10,000 TPS by 2025 while reducing transaction fees to as low as $0.0001. Solana's non-voting throughput currently ranges from 800 to 1,050 TPS, and its high-throughput, monolithic design has attracted significant developer interest, positioning it as a leading ecosystem for development in 2024.#Web3 #DApps #DataIndexing #Blockchain #Pangea #Throughput #Ethereum #Layer2 #DevCon2024 #Starknet #ZKsync #Solana #TransactionsPerSecond #Interoperability #ETH #SOL
🚀 Filecoin Launches Onchain Cloud on Mainnet, Enhancing Decentralized Storage Solutions
#Filecoin #OnchainCloud #MainnetLaunch #DecentralizedStorage #ProgrammableStorage #PDPProofs #AI #SLA #DeveloperEcosystem #DecentralizedFrontends #DataIndexing #FilecoinPay #StorageSolutions #Blockchain #FIL
Filecoin has announced the official launch of its Onchain Cloud on the mainnet, offering developers a programmable storage and payment layer. According to Foresight News, this service supports dual-redundancy across independent providers and verifies data on-chain every 24 hours using PDP proofs. If the verification process is interrupted, the system automatically halts payments. The starting price for storage is set at $25,000 per TiB per month, based on the default storage of two independent copies.
In the next phase, Filecoin plans to introduce an enhanced SLA based on real-time performance data and provide deep tool support for AI agent workflow development. The development team will also continue to optimize the PDP browser and payment processes to further improve the developer ecosystem.
Since the testnet launch in November last year, Filecoin Onchain Cloud has attracted over 100 teams working in areas such as AI, decentralized frontends, compute pipelines, and data indexing. Currently, 478 active datasets have stored a total of 49.41 TiB of data, and 81 payment wallets are connected to on-chain payment channels via Filecoin Pay.#Filecoin #OnchainCloud #MainnetLaunch #DecentralizedStorage #ProgrammableStorage #PDPProofs #AI #SLA #DeveloperEcosystem #DecentralizedFrontends #DataIndexing #FilecoinPay #StorageSolutions #Blockchain #FIL