With the Ethereum’s further development in place, the Elph, one of the scalability layer for Ethereum has been organized across the blockchain’s testnet. With the multiple value-added features associate with Elph, the developers elaborated each of them in Medium post that focuses the project’s capability to create all those transactions that run through Ethereum platform which become faster and very cost effective especially when the platform in use.
Technical Aspects of Elph
The entire Elph network is designed such that it uses of Plasma, an existing sidechain framework which allows certain transactions in order to take place on ‘Child Chains”. The story is not confined up to here, however, Plasma supports the scalability of Ethereum such that it streamlines the entire process. With this, Elph creates across Plasma’s original technological innovations.
While being considered Elph as one of the second block chain layers, the developers appraised the way it executes the task. With this, the entire network executes transactions in an efficient manner besides having certain benefits of Ethereum’s decentralized network in place.
Further speaking to the subject matter, Elph actively focuses on scalability by instantly executing numerous transactions while the first layer – Ethereum acts as a dispute resolutions solutions provider to the extent that any one of the transactions is in a complex situation.
While developers further explain more about the platform “By creating “layer-2” blockchain networks (what we’re doing at Elph), we can leave layer-1 networks as-is and use them as a secure and robust justice system that backs the layer-2 blockchain.”
With the major improvements over the entire Ethereum’s network being analyzed with the Elph, it helps achieve a transaction at the rate of 6000TPS. Let us not forget that Elph is poised to supports only token transactions at present, however, it will start assisting smart contract transactions as well as EVM executions in a cost-effective manner however to a larger extent.
Elph Finally Exists
With the live status across the Ethereum’s Rinkeby testnet in place, community users can easily visualize the Elph platform in action. With the interactive demo facility in place, it allows users to take part in a simulated – Shopping Spree however not via fiat money.
Multiple Solutions Under One Roof
Let us not forget that Elph is considered as one of the most scalable solutions providers for Ethereum. With the most awaited solutions by Etereum, Elph is not expected to release sharding in the days to come. However with the introduced Plasma in association with Ethereum and Lightning Network has given developers a completely new perspective to build upon.
Since there are numerous independent groups have developed their own scaling solutions, Elph’s newly introduced model consistently the same as Plasma based scalability effort from OmiseGo and Quantstamp besides other scaling efforts in place namely – Raiden Network, OpenST Mosaic, the Loom Network.