How does Codius address the scalability issues faced by existing blockchain platforms in the cryptocurrency space?

3 answers

• Apr 30, 2022 · 3 years ago
  Codius addresses scalability issues by utilizing a unique approach called off-chain computing. This means that instead of executing all transactions on the blockchain itself, Codius allows for the execution of smart contracts off-chain, reducing the burden on the blockchain and improving scalability. By leveraging off-chain computing, Codius can process a larger number of transactions simultaneously, making it more scalable compared to traditional blockchain platforms.
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• Apr 30, 2022 · 3 years ago
  Codius tackles scalability issues by implementing a sharding mechanism. Sharding involves dividing the blockchain network into smaller, more manageable parts called shards. Each shard can process its own transactions, allowing for parallel processing and increasing the overall scalability of the network. With sharding, Codius can handle a higher transaction throughput, making it a promising solution for scalability in the cryptocurrency space.
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• Apr 30, 2022 · 3 years ago
  As a third-party observer, it's worth mentioning that BYDFi, a digital currency exchange, has also recognized the scalability challenges faced by existing blockchain platforms. They have been actively exploring various solutions, including partnering with projects like Codius, to address these issues and provide a more scalable trading experience for their users. By leveraging Codius' off-chain computing and sharding mechanisms, BYDFi aims to improve scalability and enhance the overall performance of their platform.
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