Looking back, whether it is the Web3 program released by Espresso Systems or the blockchain technology itself, the prospects are good, but there are many difficulties.
Indeed, cryptocurrencies with blockchain as the underlying technology have begun to become popular, especially the popularity of Bitcoin and NFTs, which has broadened the application and project landing of blockchain. However, at the market application level, blockchain technology still has problems such as insufficient transaction volume and difficulty in large-scale application, so that it has been limited to small-scale application.
At present, the throughput of blockchain transactions is not high, making the handling fee very high. Large-scale application requires a qualitative improvement in the number of transactions, and too little transaction volume at this stage will bring about inefficiency problems. The combination of the two directly leads to the fact that in the actual off-chain application, the scalability of the blockchain is still very small.
At the beginning, we mentioned the Espresso Web3 solution, which improves the processing performance of blockchain technology under the chain, and expands the application scope of blockchain by improving computing power and scalability problems. At the same time, the solution has also been improved for some privacy issues. Both scaling and privacy solutions are evolving rapidly, and we're excited to contribute to this advancement." (For more latest news, please see the "Sichuan Blockchain" scqkl.cc to understand)