The Tokamak Network is probably the most hotly awaited layer-2 solution for the Ethereum blockchain. It is the first Turing Complete Plasma plasma platform assuring decentralization and enables developers to build applications with ease.
It will provide developers with all the resources needed to build blockchain applications, along with critical developer support. The Tokamak Network hopes to create an ecosystem that organizations can use for the development of decentralized applications.
There is a strong case for the Tokamak Network. For a long time, the blockchain space has been a very niche sector. However, blockchain technology is now seeing mainstream adoption, and technology is being integrated across multiple industries and sectors. The blockchain community is also pushing for the adoption of blockchain technology. This has led to a convergence of efforts to make blockchain-based solutions.
The downside to this is that efforts have been fragmented. Each organization working with the technology only targets issues specific to their platform, leading to a hindrance in mass adoption. The Tokamak Network aims to address this by bringing together these organizations and making uniting efforts to ensure mass adoption of blockchain technology.
Stated goals of the Tokamak Network
What are the stated goals of Tokamak? It provides high scalability and extendability, enabling developers to create new decentralized applications off the main chain. The main objectives of the Tokamak Network include:
- Ensure mass adoption of blockchain technology and expand the industry. It aims to stop competition among layer-2 players and, instead, encourage collaboration.
- Help ease companies and industries’ entry into the decentralized blockchain ecosystem by providing them with layer-2 technology.
- Enable developer adoption by providing them with layer-2 technology used in the Tokamak ecosystem.
The Tokamak Network is the first Turing complete plasma platform on the Ethereum blockchain. It can run multiple chains, all having the same properties as the main chain. Decentralized applications can thus run on their own and remain connected to the main chain. This enables developers to access tools available on the platform to build and deploy their applications. Tokamak addresses Ethereum’s scalability issues through the creation of multiple plasma chains that can host decentralized applications.
Scalability issues and the blockchain trilemma
The Tokamak Network addresses the fundamental issue that every blockchain faces, including Ethereum. The Blockchain Trilemma is an inherent characteristic of decentralized networks. A simple explanation would be that blockchains have three properties, security, scalability, and decentralization. Any alteration to one adversely affects the other two, making scalability difficult because to scale, the platform would have to compromise on security and decentralization. This issue is particularly glaring when it comes to the Ethereum blockchain. If Ethereum wants to scale, it would have to compromise on security and decentralization, damaging the platform’s mass adoption.
Presently, the Ethereum blockchain can process just 15 transactions per second. Compare this figure with mainstream platforms like Visa that can process over 24000 transactions per second. Ethereum has to scale up considerably to make a niche for itself in the mainstream markets.
The developer community associated with Ethereum has come up with several solutions to address the scalability issue. The plasma protocol is one of the most effective solutions for this problem. Scalability is critical because it allows the platforms and organizations to take in more users, ensuring they reach mass adoption. Without scalability, both the platforms and the organizations on the platforms are held back, having to settle for protocols that are not scalable or create their own frameworks, which is expensive. This is where the Tokamak Network comes into the picture, with the required functionality to address the scaling issues of Ethereum.
The Tokamak Network solution
The Tokamak Network, after creating a fully functional plasma protocol, now aims to serve as a platform for decentralized applications. It hopes to achieve this through its on-demand layer-2 solution. This can be customized by organizations to suit their needs and enable developers to create decentralized applications in an easy, trustless way.
The network solves the scalability problem by creating multiple chains. These operate alongside the main chain and offer the same or similar functionalities. Decentralized applications can then function on their own plasma chains.
The Tokamak Network hopes to build an ecosystem that encourages the mass adoption of blockchain technology. The network will also offer corporations layer -2 solutions like zk-rollup and Plasma EVM, among others. These tools will ease the integration of the Ethereum blockchain into their operations.
The Tokamak Network also aims to build a community of blockchain experts, developers, and others associated with blockchain technology. The network hopes that the community plays a critical role through feedback and providing support and cooperation to hasten the development of decentralized applications. It also hopes to increase collaboration between stakeholders in the ecosystem to improve scalability.
The network’s goal is to increase collaboration between layer-2 stakeholders. It believes that cooperation is the best approach to address scalability issues on Ethereum. Collaboration between stakeholders can help address issues quicker, making it easier for corporations to adopt blockchain technology. It also reduces the expenditure and the time involved to develop solutions for individual problems.
The blockchain community seems to have finally found a solution for its scalability issues in the form of the Tokamak Network.