In a bid to combat the lack of scalability blockchain networks usually come with, the ILCoin project has confirmed the launch of its RIFT protocol, which optimizes data transfer and comes with seamless synchronization.
The main goal of the upgrade is to prepare blockchain for adoption by industries such as data storage and finance. The new protocol works with 5GB stable blocks, and with a little over 23 million transactions per block in the case of 3-minute block generation time.
To put these numbers into perspective, this is tens of times faster than Visa and tens of thousands of times faster than Bitcoin. As November ended, 5GB blocks can be seen live on the official block explorer of the ILCoin network.
“RIFT features a simultaneous sync mechanism for individual blocks, which helped us to deal with the FIFO issue and avoid bottlenecks. Now larger blocks will synchronize at the same time with smaller blocks that follow,” commented Norbert Goffa, the Executive Manager of ILCoin.
The new protocol also allows any amount of data to be stored on the blockchain, splitting large mountains of information into ‘mini-blocks’, which are interconnected with one another and connected to parent blocks, guaranteeing information integrity.
For more information on exactly how the new RIFT protocol operates, you can take a look at this document.
While scalability has been an integral problem for blockchain-based tech ever since the start, it is still up for debate whether block size is the only sub-issue. We will certainly follow the progress of RIFT to see if its promise is realistic.