18 - Scaling Public Blockchains — Challenges and Solutions

How to scale blockchains so they can support ever greater numbers of transactions and functions without being crippled by huge fees and wait times has always been a big question in the blockchain space.Matthew introduces some of the current problems like gas prices, and talks about how we might be able to scale blockchains without costs spiraling out of control. He also explains some concepts like zero-knowledge proofs, the Nakamoto consensus, and smart contract blockchains — and how all three of these have combined to make modern-day decentralization possible.Some other ideas we touch on include state channels — a way to perform a lot more transactions while storing a lot less data, and side chains — a way to avoid high transaction fees or long waiting times when doing a lot of transactions. We also talk about some of the potential problems involved.—You can follow Matthew on Twitter and LinkedIn, Diana on Twitter and LinkedIn, and learn more about Unstoppable Domains and our work here.—Don’t forget to rate, download, and subscribe to the podcast so we can keep producing awesome content for you – and you won't miss an episode. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit unstoppablemedia.substack.com