The Tokamak Network is building an on-demand platform that organizations can use to easily adopt and use blockchain technology. This comes in the wake of a recent successful rebrand, through which the Tokamak Network aims to offer multiple solutions to accelerate development of decentralised applications.
Tokamak Network is focused on enhancing collaboration rather than competition across the blockchain industry. The platform provides an avenue where various layer 2 players can come together to develop ideal solutions to common problems through collaborative efforts. Consequently, this will enhance the industry’s ability to tackle not only the existing issues but also those that arise in the future.
Issues impeding blockchain technology progress
Multiple business enterprises across the globe have expressed their interest in adopting blockchain technology so as to benefit from its cost effectiveness and to improve operational efficiency. Others are keen on being among the first within their industry to align their business with the new wave of technological revolution. Alongside the Internet of Things, Artificial Intelligence and Virtual Reality, blockchain technology is among the top priorities for enterprises seeking to gain first mover advantage in the fourth industrial revolution.
With these technologies being relatively new, businesses have found it hard to develop relevant solutions around their core operations or even find the right fit for their nature of business. Technical complexity, small talent pool, and uncertainties have become some of the main stumbling blocks impeding the adoption of blockchain technology across organizations.
Some organizations have tried to develop solutions within the existing blockchain frameworks with little success. Others have resorted to building their own enterprise blockchains from scratch that comes at a very steep price. There have also been attempts to build sector-wide decentralised consortium blockchains but the reluctance by organizations to share their operational secrets with their rivals has frustrated such collaborative efforts.
As a result most businesses have turned to the existing blockchains, and more particularly, the Ethereum network to develop decentralized applications. The smart contract capability of Ethereum makes it an ideal protocol for enterprises to develop their apps as layer 2 solutions on top of the main chain.
However, the Ethereum network does not have the capacity to support such diverse applications. This has been evidenced lately with the network failing to handle a surge in activity from the DeFi sector repeatedly over the past few months.
Several solutions to this problem exist in the form of plasma chains, sidechains and rollups among others. Either of these novel solutions offers different approaches to solving the Ethereum scalability issue to further accelerate its adoption in the mainstream market. Still, developers using these solutions are required to establish their own set of tools, components, and processes to create new applications.
Only, the Tokamak Network defies this pattern as it has built an ecosystem around its layer 2 scaling solution.
How Tokamak Network solves these issues
The Tokamak Network is an Ethereum scaling solution that utilizes the plasma protocol to build side chains with similar functionality as the main chain. As such, it allows developers to create DApps on their dedicated side chain while guaranteeing high levels of scalability and extendability. Each DApp operates on its own chain while remaining connected to Ethereum’s main chain via the Tokamak protocol.
Besides facilitating the Dapps connection to the main Ethereum protocol, the Tokamak Network’s biggest role is serving as an on-demand platform that developers can rely upon in the creation and rollout processes.
The Tokamak ecosystem comprises a host of tools, components, talent, and community that contribute significantly to the development and adoption of new applications. Put simply, Tokamak serves as an aggregator that brings together all the necessary constituents needed for the creation and use of Ethereum Dapps.
This unique feature separated the Tokamak Network from its peers and other Ethereum scaling solutions in that it does not stop at providing the layer 2 technology. Rather, it goes a step ahead to bring together all the requisite components and makes them easily accessible for all developers through its on-demand platform.
In this sense, the Tokamak platform creates a trustless environment that developers, tech companies, business enterprises, crypto community, and other users can engage in collaborative efforts to deliver new applications.
This is quite critical in expanding the entire blockchain industry as it opens the door to all interested organizations, even those without the substantial resources, skilled personnel, or even blockchain knowledge.
The Tokamak Network levels the playing field for all participants as they can easily access talented developers, custom built core components, and a dedicated sidechain on the Ethereum blockchain. Organizations can therefore tap into this existing framework to further customise their applications based on their preferences and business needs.
Moreover, organizations have ready access to an existing community that can serve as a sounding board during the conceptualisation and development stage. The Tokamak community will also help out in testing the apps, finding and fixing bugs as well as being the first users. This greatly enhances the value of the Tokamak Network to the developers, organizations and the blockchain industry at large by accelerating development and adoption of new applications.
The Tokamak Network on-demand platform is a bold initiative and a game changer that is set to alter the course of blockchain technology in the near future. By serving as an aggregator and opening up its ecosystem to various users, developers and organizations, Tokamak is bringing in a fresh approach.
The platform will foster collaboration rather than competition and allow users to mutually benefit by bringing their efforts together. Instead of spending huge amounts of time and resources working on similar solutions, they can collaborate to tackle multiple issues together thus fast-tracking the development process.
Upon working on the core components together, the different organizations are then open to customising their solutions according to their needs. This opens the door for all companies to easily use and adopt blockchain technology through a trustless development process.