1,000 times faster
In an email sent to Cointelegraph, IDEX claims that its system, dubbed Optimized Optimistic Rollups (O2Rs), reaches block finality in 10 minutes. The company also says that this is about 1,000 times faster than the Optimistic Rollups (ORs) developed by Ethereum scalability development organization Plasma Group — which achieves block finality in two weeks.
Rollup solutions scale by moving computation off-chain and pushing result to the network later. Both O2Rs and ORs ensure data legitimacy by having validators analyze the data published on-chain.
There are multiple possible applications
This technology offers a spectrum of use cases. The difference between the two protocols is that O2Rs only publish the data off-chain unless a validator triggers a data availability check. Thanks to this change, the new system reportedly has limitless scalability potential, and can handle much more complex applications.
IDEX CEO Alex Wearn suggested in a tweet published on Nov. 6 that point of sale payment systems could use O2Rs in a scalable non-custodial payments service “that can match the throughput of Visa.” He also suggested that the solution would allow for free, instantaneous transfers of video game assets digitized as non-fungible tokens.
Scalability is one of the main obstacles to blockchain adoption, as blockchains currently tend to increase transaction prices or stop processing them altogether when under heavy use. As Cointelegraph reported earlier today, the EOS blockchain is currently congested by the EIDOS token airdrop.