If there’s really any common problem faced by every blockchain, it is the ability to expand the capacity of the blockchain to contain the ever increasing data on the blockchain—Scalability. These data includes hashes and records of transactions on the blockchain.
Scalability in its real sense applies not only to blockchain technology but also the economics, organizational management, supply chain management and every other activities which requires changing one’s capabilities to suit the tides.
In computing and data storage, a truly scalable system is able to contain every transaction and is limitless in the amount of data it can carry. Blockchain start-ups faces this problem commonly as the struggle to achieve a truly infinite scalable blockchain continues. While many blockchain company’s whit papers have Infinite Scalability boldly written and continuously repeated on it, only few can boast of reasonable scalability, infinite scalability is hence an illusion and a bogus proposal.
Many blockchain attempts to tackle this issue by expanding their data storage system:
In less than a year, the ethereum blockchain size doubled from one terabyte (1Tb) to 2.3 Terabyte (2.3 Tb). This is in an attempt to contain the ever growing number of smart contracts created on it blockchain and DAPPs built on the blockchain, hence with increasing data on the blockchain, the goal of infinite scalability is defeated unless a different solution is sort as increasing blockchain size doesn’t mean an infinitely scalable blockchain
Expanding the size of the blockchain have been a common approach to issues of scalability, however, this doesn’t really mean a true infinite scalability as even this approach is has a limit.
While many other blockchains have attempted to create flexible blockchain whose transaction data occupy much lesser space in the data storage system, flexibility only appears to reduce the time and amount of transactions it would take before the blockchain size will need to be expanded, hence it’s just a matter of time before they fall back to the first approach which defeats the goal of infinite scalability.
The PascalCoin’s delible blockchain
If you could infinitely expand computer storage, then infinite scalability wouldn’t be an issue in blockchain technology and technology, however this is currently impossible hence the scalability issues. For every transaction on the blockchain, a new block is created with a hash which is identical to the block, connection of several block using the ‘chain’ is the concept of blockchain technology. Blocks are thus records or transactions and a blockchain is a chain of transactions
The PascalCoin blockchain only needs/keeps records of the last hundred (100) blocks, hence the history is ‘lost’ after a hundred blocks. Probably lost sounds a bit too straight forward as these lost transaction history are actually stored in an archival block and can always be traced and verified at anytime using the PascalCoin blockchain’s account seal technology.
This approach keeps the transaction history separate from the rest of the blockchain, the history is safely stored in an archival block known as the Safebox. The safebox is thus a container for embedded blockchains with one proof of work to secure all of them. This concept was first described by Albert Molina who developed the PascalCoin blockchain.
You can store all you want on the PascalCoin blockchain! Perfect? I’m sure you said that before myself!. The safebox and account seal technology not only makes the PascalCoin blockchain infinitely scalable but also enables the concept of embedded blockchains.
More on the PascalCoin project?...