Background

Fireblocks Addresses Blockchain Bottlenecks with New Infrastructure

Article arrow_drop_down
fireblocks launches fairblock
Key Points:

  • Fireblocks launches Fairblock to tackle blockchain bottlenecks.
  • Focus on confidentiality to enhance scalability.
  • Addresses MEV concerns and scalability issues.

fireblocks-launches-fairblock
Fireblocks Launches Fairblock

Fireblocks has launched Fairblock, its new confidentiality-focused blockchain infrastructure, highlighting the current bottleneck issues with Maximal Extractable Value (MEV). This action is a notable push towards resolving scalability concerns in widespread blockchain networks.

Bottlenecks in blockchain scalability are crucial as they affect market performance and reliability. Fireblocks’ focus on confidentiality solutions aims to enhance blockchain efficiency and address noted scalability challenges.

Fireblocks

Fireblocks has advanced Fairblock to solve blockchain bottlenecks, focusing on confidentiality. Developed by its research teams, Fairblock highlights Maximal Extractable Value (MEV) as a central issue. Fireblocks critiques centralized MEV mitigation, promoting a decentralized approach instead. Michael Shaulov, CEO of Fireblocks, stated,

“Maximal Extractable Value (MEV) is a market failure … on-chain transaction searching is spectacularly wasteful. Blockchain needs a structural overhaul, not bandaids. Confidentiality must be embedded at the protocol level.”

Fairblock’s architecture rejects centralized solutions, using scalable multi-party computation. The system’s ABCI++ protocol and 180 MPC validators address bottlenecks effectively. This approach aims to avoid single points of failure common in existing systems.

The launch impacts major blockchain networks, addressing longstanding scalability issues. High-throughput Layer 1 networks often exhibit flaws under stress. Fireblocks’ Fairblock targets these scalability concerns with its innovative solutions.

The Financial Impact

The financial markets may see reduced volatility as improved scalability solutions can enhance network reliability. Implementing decentralized protocols could also influence regulatory environments, alleviating some existing drawbacks in blockchain networks.

The continued focus on confidentiality and decentralization points to a shift in the industry towards sustainable blockchain growth. Such outcomes suggest improvements in network efficiency and integrity as critical advances in tackling current limitations.

About the author

Related

Be the first to leave a comment

Leave a comment

Your email address will not be published. Required fields are marked *

About Coinlineup

CoinLineup is a specialized platform dedicated to empowering investors with the knowledge and tools needed to succeed in both the financial stock market and the crypto market. Our primary focus is to provide comprehensive market insights by delivering real-time and historical data, solid investment strategies, and trading tips. We aim to equip investors with accurate information, allowing them to make well-informed decisions in their financial endeavors.

Copyright 2024 coinlineup.com. Crypto, Stocks, and Forex – All in One Place.

Login to enjoy full advantages

Please login or subscribe to continue.

Go Premium!

Enjoy the full advantage of the premium access.

Login

Stop following

Unfollow Cancel

Cancel subscription

Are you sure you want to cancel your subscription? You will lose your Premium access and stored playlists.

Go back Confirm cancellation