geeblock
  • Gee block
    • Summary
      • Problem Recognition and Solution
      • Technical Highlights
      • Impact on the Blockchain Industry
      • Ecosystem Evolution and Roadmap
      • Role of $GEE in the Network
      • Expectations for Network Value Growth
    • Market Challenge
      • Scalability Limitations
      • Fee burden
      • Lack of Real-World Applications
      • Security Concerns and Data Privacy
    • Attempts
      • Ethereum with Layer 2 Solutions
      • Solana’s High-Throughput Approach
      • Polkadot’s Interoperable Parachains
    • Gee Solution
      • Goals and Principles
      • Key Structural Properties
      • Overview of Document Structure
      • Nomenclature and System Identity
    • Page
    • Consensus mechanism
      • Background: Rethinking Consensus for Decentralized Systems
      • Gee Consensus: A Hybrid Model for Scalability and Security
      • How Gee Consensus Works
      • Ensuring Consistency and Security
      • Benefits of the Gee Consensus Engine
    • Triple-chain architecture
      • Contract Chain (C-Chain)
      • Platform Chain (P-Chain)
      • Resource Chain (X-Chain)
      • Gee L1
      • Key Advantages of Gee L1
      • Creating Gee L1
      • Compensation Model
      • Key Network Parameters
      • Delegation and Validator Weight Limitations
    • Virtual machine s1
      • What is a Virtual Machine in Blockchain?
      • Why Use a VM on Gee?
      • How Do VMs Work in Gee?
      • Types of VMs in the Gee Primary Network
      • VM Development on Gee: Key Technologies and Compatibility
    • Virtual machine s2
      • Smart Contract Platform
      • Benefits for Developers
      • Benefits for Users and Businesses
      • Expanding the Gee Ecosystem and Industry-Specific Applications
    • Bootstrapping
      • Step 1: Connecting to Seed Anchors
      • Step 2: Network and State Discovery
      • Step 3: Becoming a Validator
    • Roadmap
      • Initial Phase (2024-2025)
      • Expansion Phase (2026-2027)
      • Long-Term Vision (2028+)
    • $GEE
      • Core Utility of $GEE
      • Issuance and Distribution of $GEE
      • Incentive and Reward Structures
      • Foundation Policies on $GEE Management
      • Additional $GEE Operational Policies
      • Long-Term Vision and Sustainability
    • Expectiation for network value growth
      • Expansion of the Core Ecosystem
      • Development and Attraction of High-Value Applications
      • Expansion of Strategic Alliances and Partnerships
      • Strengthening and Supporting the Community
      • Additional Activities to Promote Sustainable Growth
      • Expectations for $GEE’s Long-Term Value Growth
    • Optimization and future growth
      • Optimization Issues
      • Future Growth Challenges
      • Strategic Initiatives for Future-Proofing and Growth
    • Disclaimers
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  1. Gee block
  2. Attempts

Ethereum with Layer 2 Solutions

Approach:

Ethereum, the leading platform for decentralized applications, introduced Layer 2 scaling solutions like Rollups (Optimistic and ZK-Rollups) and Plasma to address scalability issues. These solutions process transactions off-chain, reducing load on the main network, and are then verified on-chain to ensure data integrity.

Achievements:

Layer 2 solutions have significantly increased transaction throughput, reducing congestion on the Ethereum mainnet and bringing down gas fees during off-peak periods. For instance, solutions like Scroll and Arbitrum can handle thousands of transactions per second, a vast improvement over Ethereum’s Layer 1 capabilities.

Limitations:

Despite these advancements, Layer 2 introduces complexity for users and developers. Transactions are often delayed, with funds locked temporarily for security verification. Additionally, the overall user experience is fragmented, requiring users to interact with different interfaces for each Layer 2 solution, complicating adoption

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Last updated 5 months ago