Tokamak: The first On-Demand Layer 2 Protocol for Ethereum

in #blockchain3 years ago

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The Tokamak Network is rebranding into an on-demand platform that provides the necessary resources for building blockchain applications in an easy and trustless way. The rebrand entails transforming the Tokamak Network into an aggregator of developer tools and blockchain foundational components with a vibrant community behind it.

This will create an ecosystem that various organisations and layer 2 solution providers can rely on in the development of their decentralised applications (Dapps).

The case for Tokamak’s on-demand platform

Since the inception of Bitcoin, a decade ago, the blockchain space has remained a niche sector with only new and disruptive solutions being built on the various decentralised protocols. But, with time the mainstream market has realised the importance of blockchain technology and has been actively pursuing its integration across multiple sectors. On the other hand, the blockchain community has been actively pushing for the use and adoption of the technology in different industries.

Subsequently, there has been a convergence of efforts and will to achieve mass blockchain adoption from both sides of the divide. This has culminated in concerted development efforts to create blockchain-based solutions for the mainstream markets.

However, most of these efforts have been undertaken separately with each organisation focusing on tackling specific issues perceived to hinder the transition from niche to widespread adoption. 

   

This has in turn created a greatly fragmented blockchain industry characterised by competition and race to become the first to corner the market. Though competition is healthy, it is not especially good for a sector like blockchain that is still in its infancy and with limited resources.

In this respect, the Tokamak Network has decided to establish a platform to bring together the different players and get them to work towards a common goal of expanding the blockchain industry. 

Tokamak Network on-demand platform has a solid foundation

As aforementioned, Tokamak is an aggregator that brings together all the resources for building Ethereum-based layer 2 solutions onto one platform. This is to ensure easy accessibility, foster collaboration and trust in working towards the same goal.

To understand the motivation behind the on-demand platform, it is important to firstly get a brief preview of the Tokamak Network background.

Tokamak Network is the first Turing Complete Plasma Protocol on the Ethereum blockchain. This means that all plasma chains created on the Tokamak protocol fully support the EVM and are 100% compatible with Ethereum smart contracts. It also ensures that they are scalable and secure.

This is unlike any other plasma chains ever created as they only support a few functions like token transfers on Ethereum.

Therefore, Tokamak’s Turing-completeness is no mean achievement and it clearly sets it apart from other existing layer 2 solutions.

The feature allows Tokamak to create plasma chains with similar functionality as the Ethereum main chain. This means that Dapps on the Tokamak protocol run as if they are on Ethereum’s core protocol.

The capability also supports the seamless migration of Dapps between the main chain and the Tokamak Protocol without sacrificing decentralisation or security whilst enhancing scalability. 

This feature will play a key role in improving Ethereum’s scalability by allowing developers to move their applications from the root chain to their own dedicated plasma chain without losing any functionality. Moreover, it will provide an ideal environment for testing out new applications on separate chains thus reducing workload on the main network.

Evidently, the Tokamak protocol is a powerful tool with the potential to expand Ethereum’s scalability exponentially since there is no limit to the number of plasma chains that can be created.

Now, Tokamak is unleashing this powerful tool to the world and is committed to push it even further by building an ecosystem around it through the on-demand platform.

Tokamak on-demand protocol will expand the blockchain industry

Having delivered one of the most sought after layer 2 scaling solutions for the Ethereum blockchain, the team behind Tokamak (Onther PTE) have set their sights on another equally important undertaking. That of advancing the adoption and use of blockchain technology in the mainstream market. This is the main purpose behind the on-demand platform.

The team believes that this can be achieved much more easily by working together rather than competing. In this respect, they are opening the door to other layer 2 players, developers, tech companies, the crypto community and mainstream organisations interested in deploying blockchain technology.

Once they join the on-demand platform, all the interested parties can easily access the plasma protocol, generate their dedicated chain and start building. Those organisations without prior experience building on the blockchain can call upon the various developers and the crypto community for help.

On the other hand, developers will be incentivised so that they can make new creations continually as well as offer their input and assistance to projects within the Tokamak ecosystem.   

This is in line with Tokamak’s dedication to establishing a collaborative environment where help and support is readily available. By so doing, the team hopes to break down some of the barriers that have inhibited the sector’s growth over the past years. Moreover, it will enhance trust among the various players within the ecosystem thus accelerating the development process.

Other PTE to follow Tokamak Network by rebranding

Other PTE Ltd. Is also rebranding as a blockchain R&D company that will be offering various layer 2 technology solutions to organisations interested in adopting the blockchain in their operations. This move is aimed at providing support for developers and projects throughout the development process. 

The company will also be able to collaborate better with other layer 2 players in this capacity as it diminishes the competitor element. This is deemed to effectively enhance the building process and ultimately grow the blockchain industry through consistent forward progress. 

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