The boom of ICO in 2017 and early 2018 ushered in a new era of individual blockchain projects which had the purpose of solving a lot of the problems on the ETH or Ethereum network. The most outstanding ones have so far issued a final product in the form of a mainnet, with some other in the last stages of launching one. This is best shown through Tron which recently launched its Mainnet and EOS. On the other hand, Zilliqa is on the cusp of launching its Mainnet at the end of 2018 or the beginning of 2019.
What is the aim of the new projects?
All of these new projects are excellent. Tron has the purpose at decentralizing the web: EOS has the approach of democratized blockchain; On the other hand, Zilliqa brings the concept of sharding and the new Scilla programming language.
However, what if the approach of breaking away entirely from Ethereum has been the wrong one? What if it was far wiser to try, as well as improve it by creating a second layer as it was suggested by the co-founder at the Loom Network, named James Martin Duffy. The Loom network builds their layer 2 on top of the Ethereum instead of entirely creating some new blockchain network. Then, this solves the scalability problems on the network without having to start from scratch.
SDK allows developers to build their own side-chain on ETH network
At the core of Loom network is Software Development Kit or SDK which permits developers to create their own side-chain quickly on the Ethereum network without the need to understand blockchain base. It is more or less the concept of Plasma which was put forth as a way of solving scalability problems on the ETH network.
In one recent Medium.com article of James Martin Duffy, he puts forth the notion that ETH already has the tools, as well as the infrastructure which is free to use by any developer all over the world. Building a new blockchain is going to include the process of creating everything from scratch. However, why to do that when ETH is already existing and time-tested? He also summarizes that the ETH network has some more developers that are working on it, than any other blockchain.
Just said, the number of developers that are building on the top of ETH is not only growing but is accelerating.
Features added on the ENJ ecosystem
Another project which also improves on the Ethereum network is Enjin Coin or ENJ. The project is a gaming one. Therefore there is a need for some higher throughput. The team earlier in 2018 had hinted about using techniques from both Plasma and state channels in their Efinity project geared at scaling on the ETH network.
Efinity is going to add some of the following features on the ENJ ecosystem:
Necessary token transfers, as well as approvals;
Escrow of multiple tokens;
Metadata attached to game items;
Updating whitelists for bound tokens.
Concluding, there is more to be achieved with the testing of the limits of the ETH network than creating some new blockchain networks. This fact is maybe the reasons why the Virtual Machine of Tron is 100% compatible with the one of ETH. Also, it accommodates the Solidity programming language. In a nutshell, scaling the ETG network has to be reconsidered as an option before embarking on some new blockchain networks which try to reinvent the wheel.