Why we are choosing to stay integrated with Ethereum Frameworks, but not entirely.
DISCLAIMER: This announcement is not about us only using Ethereum, this announcement is advocating for why staying integrated with Ethereum is suitable for adoption and good for the growth of our platform, Scroll integrates with Ethereum, but it is not Ethereum.
Hello Scroll Community,
Recently there has been quite a bit of confusion in the Blockchain world. A lot of media forums particularly like to find a correlation between a descending market and Ethereum dying as a platform. What we would want to do in this announcement is go over why we see longevity in Ethereum, and what we intend to do to stay native toward Ethereum….but not entirely. So, let’s begin!
1.) ERC20 Tokens are not bad, bad people just had easy access to them.
In terms of documentation, codebase and community ERC20 is very easy to implement and use as a transference of value. The vision of the ERC20 Token is also something that is easy to resonate with, and the idea of decentralized access to new unique digital assets could be great for the world. In 2017, a lot of people decided to use the ERC20 standard for negative reasons, thus giving it a bad name. Just like how Bitcoin started compared to how it is today, with time, eventually, it was better understood. A lot of new innovations in the Enterprise DLT space are looking to use ERC20 tokens are validator assets, as in verifying private on chain transactions with an immutable record. There is incredible efficiency here, primarily if it is widely understood that ERC20 is the default means of token creation.
2.) Hyperledger integrates with Ethereum and so do MOST future innovations in Enterprise DLT.
For most businesses looking to adopt blockchain technologies, many are gravitating toward Hyperledger Fabric. Some Blockchain Developers make the argument that Hyperledger is too centralized to be considered Blockchain..but the following needs to be considered:
a.) Businesses do not want a totally decentralized ledger
b.) Privacy in companies must be maintained at all times
c.) Transparency must be considered as a hallmark when building Enterprise DLT solutions
Due to the growing codebase that Ethereum has to offer and the ever-increasing adoption of Hyperledger Frameworks in Enterprise, migrating our *entire* platform to a new standard would create a much longer process for our software to be adopted. We believe that 2019 is a pivotal year for this technology and want to stay on the cutting edge throughout.
3.) Validation and understanding of clients.
Ethereum is popular, and its codebase is trusted. Blockchain is a collaborative technology, so that means working with internal IT teams to integrate solutions. There needs to be a two-way understanding upon integration that the technology is well documented and sourced by 3rd parties which can take years to do. We intend on using what works from Ethereum to help bring adoption quicker.
SO! What do you mean by not entirely?
It is a general understanding by a majority of Blockchain Enthusiasts that data storage on the Ethereum Blockchain is robust. Big Data means A LOT of information, and the current version of Ethereum, in most cases, is not scalable with big data, but there are a lot of cross-integration benefits with existing platforms through the use of Ethereum. We do not want to alienate the Ethereum community but will continue to build up Scroll to be the most pro-adoption platform we can make it.
All the best!
The Scroll Team