Scalability remains a paramount challenge for blockchain projects, especially for platforms specialising in gaming like Hemis. The term ‘transactions per second’ (TPS) measures how many transactions a network can handle each second, a critical indicator of its efficiency and usability. For gaming platforms, high TPS can enhance user experience by enabling faster, cheaper and more complex interactions.
Understanding TPS and Scalability
Scalability in blockchain refers to a network’s ability to handle a growing amount of work or its potential to accommodate growth. For blockchain projects, scalability directly influences usability and performance. High scalability means more transactions can be processed swiftly, making the platform more practical and user-friendly for its audience.
Historical Approaches to Scalability
Traditionally, blockchains have tackled the scalability issue through various means. The challenge lies in achieving consensus—the agreement on the next valid block in the chain. Typically, reaching consensus is time-consuming. To speed up this process, some blockchains reduce the number of participants in making consensus decisions, which can lead to increased centralisation.
For instance, EOS and its Delegated Proof of Stake (DPoS) model serve as a pertinent case study. EOS has demonstrated the ability to handle up to 5,000 TPS due to its DPoS system, which relies on a limited number of block producers (101) to reach consensus more quickly. However, this concentration of power led to an event early in their project history where EOS validators were able to rewind the blockchain to mitigate a hack, a capability that, to the Hemis team, contradicts the very essence of an immutable blockchain.
Bitcoin: A Case Study in Scalability Constraints
Bitcoin, as the first cryptocurrency, faces significant scalability constraints. It has deliberately chosen not to compromise on decentralisation in favor of scalability, resulting in a system that handles only about 7 transactions per second. The downside of this decision is the occurrence of high transaction fees and slow processing times, especially evident during peak usage. Bitcoin’s approach reflects a commitment to security and decentralisation but highlights the trade-offs that come with such a choice.
The Hemis Approach
At Hemis, we currently cap our blockchain at about 20 TPS. We believe this is sufficient to launch our project and begin operations effectively. This approach allows us to focus on establishing a solid foundation without prematurely optimizing for throughput that isn’t yet required. For comparison, despite EOS’s capability for 5,000 TPS, it rarely exceeds an average of 10 TPS in daily operations. This observation raises questions about the necessity and wisdom of compromising decentralization for theoretical performance gains that may not even be utilized.
Strategic Patience and Future Plans
Hemis is committed to a cautious and measured approach to scalability. We prefer to address this challenge only when necessary, believing that rushing into scalability solutions can lead to suboptimal outcomes, such as unnecessary centralization. The blockchain industry continues to innovate rapidly, and more efficient, decentralised scalability solutions are likely to emerge. By waiting, Hemis aims to benefit from future advancements rather than committing to current technologies that may soon be outdated.
Looking Forward
For Hemis to achieve true widespread adoption, we must eventually confront and overcome the scalability issues that confront many blockchain projects. However, a hasty decision in this regard could be more detrimental than beneficial. We are poised to make informed, strategic decisions that ensure scalability without compromising our core principles of decentralization and security.
In summary, while the path to scalable blockchain gaming is fraught with technical challenges, Hemis is committed to growing thoughtfully, ensuring that when we do scale, it’s in a way that aligns with our vision for a decentralised and secure gaming environment. Our approach may be cautious, but it is designed to ensure long-term viability and trust in the Hemis ecosystem.