However, Ethereum-based platforms are increasingly facing scalability issues comprising high gas fees and network congestion. Blockchain developers have been trying to solve the Ethereum scalability trilemma by creating so-called layer 2 solutions that feature new consensus protocols like POS and BFT to replace the energy-driven and environmentally unfriendly POW. In recent years, many solutions were proposed to solve the scalability trilemma.
Basically, the solutions can be categorized as layer 1 and layer 2. Layer 2 protocols are built on top of the Ethereum Mainnet while layer 1 protocols are completely new kinds of blockchain. Besides that, there are other protocols that cannot be classified as layer 1 or layer 2 solutions but rather as independent blockchains that run parallel to another layer 1 blockchain. One good example is Binance Smart Chain, which is not a layer 1 or layer 2 protocol, but a fork of the Ethereum blockchain.
To help readers understand the core concepts of various solutions that attempt to solve the Ethereum scalability trilemma, the book provides detailed descriptions of various DeFi and NFT platforms that have been implemented based on these solutions. Additionally, readers will learn how to invest in these platforms to reap good rewards.
Dr. Liew Voon Kiong holds a bachelor’s degree in Mathematics, a master’s degree in Management and a doctorate in Business Administration.
Dr. Liew is a sought-after Blockchain Architect by companies in the blockchain industry. He has played a lead role in designing and developing the native cryptocurrency of an incubation hub in Southeast Asia, as well as successfully getting it listed on a renowned exchange via an IEO campaign. He is also the Chief Strategy Officer of an Australian blockchain company that manages a crypto exchange.
Dr. Liew is also a blockchain researcher and has developed several use cases such as blockchain-powered supply chain management for the automotive and textile industries, building a blockchain-powered digital government, event and ticketing DApps, and more. He is skilled in setting up blockchain networks such as private Ethereum networks, as well as writing smart contracts using Solidity and creating DApps. He has also created a blockchain blog titled Blockchain Guide for Everyone (http://www.blockchainguide.
He is a regular speaker in regional blockchain events and workshops