RChain is a new project that would like to solve the blockchain trilemma.
One of the developers, Atticbee, recently said that none of the existing blockchains are capable of doing this.
https://twitter.com/11Shixi/status/1458331446871871489
Summary
The problems of the blockchain
There are three problems to be solved.
Firstly, Atticbee claims that there is currently no real solution to the problem of scalability, because second layers (such as Lightning Network) or Proof-of-Stake (as on ETH 2.0) would be illusory solutions because they are not interoperable.
Secondly, the current blockchains would be designed mainly for the transfer of tokens, not for data-intensive Web 3.0 applications.
Finally, smart contracts would not be able to securely call each other, thus preventing “secure composability” to build large and complex software systems from smaller and simpler blocks.
The blockchain trilemma and RChain’s solution
In light of these considerations, Greg Meredith, who worked together with Vitalik Buterin in 2015, created RChain, choosing the composable “Rho-Calculus” with on-chain formal verification capabilities as the computational model for the contract layer.
With this solution, RChain aims to solve the “blockchain trilemma” with the simultaneous processing of transactions “without code”, and become a platform suitable for all uses including the direct on-chain storage of large amounts of data. This would be made possible by seamless sharding, and fast formal on-chain verification based on the OSLF system.
According to Atticbee, the trilemma of security, scalability and decentralization would only apply to current blockchains that require transaction queuing, while it would not apply to RChain, which has no queue.
Traditional blockchains queue all transactions for validation, with all nodes in the network working together to maintain this queue.
Atticbee argues that the distributed maintenance of a transaction queue is the root cause of the trilemma, and RChain solves it by simply removing that queue.
RChain, secure and fast
For example in RChain’s block-merge test network, as more nodes are added the number of validatable transactions in a unit of time increases. This would prove that this technology has solved the trilemma.
RChain would therefore not only be decentralized, but also secure and fast.
The ultimate goal of the project is to build a truly decentralized global computer to serve as the basic infrastructure for Web 3.0.
