Ethereum is running at full capacity.
At least, that's according to Afri Schoedon, the release manager for ethereum software client provider Parity Technologies. On Thursday, he warned due to the scaling challenges faced by the second largest blockchain by market cap to: "Stop deploying dapps to ethereum."
The tweet caused an uproar, with ethereum creator Vitalik Buterin stepping in to defend the protocol, yet others lambasting the project and pointing to other blockchains as better solutions.
And while a number of (both layer-one and layer-two) scaling technologies are in the works, blockchain company OpenST thinks it's new protocol, Mosaic, is ready to tackle those issues "here and now, rather than just many years into the future," according to Jason Goldberg, the CEO of OpenST.
In an exclusive interview with CoinDesk after the project was first revealed at ethereum hackathon ETHBerlin, Goldberg highlighted that Mosaic requires no fundamental changes to the underlying ethereum network to deploy.
Currently, the team at OpenST is gearing up to launch a preliminary version of Mosaic in just three months time.
Once fully tested, Mosaic could then act as a scaling solution used in advance of other proposed solutions, such as sharding and zk-snarks, which require changes to the ethereum blockchain, dubbed layer-one, as opposed to changes on off-chain auxiliary systems running on a secondary layer atop ethereum.
The protocol, created in partnership with ex-Hyperledger developer Benjamin Bollen, allows tokens to be moved into an auxiliary system where the bulk of heavy computational activity is completed and later asynchronously committed back onto the live ethereum blockchain, or mainnet.
This is done through what Bollen describes as the "gateway protocol." In effect, any ERC-20 token, which is the widely held standard for new forms of cryptocurrency on ethereum, is able to move through the gateway protocol in...