What is sharding and why Polygon co-founder says it may not scale Ethereum enough?
cnbctv18.comThe scalability of the Ethereum blockchain has long plagued the decentralised finance (DeFi) industry. Its biggest drawback has been its Proof-of-Work (PoW) consensus mechanism, which identifies transaction validators on the network.The PoW mechanism was the first consensus mechanism in the world of cryptocurrencies.
It was developed by the creator(s) of the bitcoin blockchain. It requires blockchain users to devote stupendous amounts of computing power to run complex mathematical calculations that decrypt transaction data for validation.
This inevitably consumes massive gas fees and requires heavy investments in hardware.This prevented Ethereum from adding more processing power to its blockchain. It is now transitioning from the PoW to the
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