Cashcool Deji
@cashcool
Still on the topic of building on the global onchain economy, millions, if not billions, of users, buying assets, getting groceries, paying for movies, investing, posting content, and making a living all on onchain. It’s a vision slowly coming to life.
But then you ask, What do they mean by “We’re scaling”?
You notice how the gas fees on every transaction are averagely around a cent, and the chain operating without congestion, even with the number of people onboarded and products built daily? It’s because of the frequent Gas Target scaling.
We just hit 32.5 MGas/s a few days ago, another step towards the big bald 250 MGas/s goal for 2025.
MGas/s, million gas units per second, measures the rate of computational work processed by a network. You can compare it to GHz in CPUs and GPUs, but not exactly; you get what I mean.
Enough of the jargon, what’s the practicality behind scaling gas targets? 0 reply
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Base is for everyone.
How?
By being one of the most decentralized blockchains building on the onchain economy and enabling anyone to do the same.
Following this vision, @base just achieved Stage 1 Decentralization.
Before I define what Stage 1 Decentralization entails, what does Stage 0 Decentralization mean?
Transactions onchain are validated and screened by a single operator, the chain’s operator, making it centralized and basically on training wheels.
Stage 1 Decentralization, in simple terms, is a system in which, instead of entrusting the scoreboard of a game to a single person (Stage 0), it can be defined, fact-checked, and challenged by anyone. This system is called a Fault-proof system.
The Base team also believed that to achieve true Stage 1 Decentralization, the chain’s smart contract upgrades must go through a “Security Council,” which entails 10 independent entities.
To implement an upgrade, the agreement must reach a threshold of 75%, meaning no single entity has the authority... 2 replies
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