#GrayscaleConsiders35Cryptos Grayscale Announces 35 Altcoins on its Radar, including Artificial Intelligence and #DePIN projects. This news excited me a lot. So I thought I should accelerate my research in this area. Today I decided to write another article about #AutonomysNetwork , which provides infrastructure for scaling decentralized #AI3 applications on-chain. Our topic: The Farmer's Dilemma and proposed solutions.
Blockchain technology promises us decentralization, security and transparency. However, these advantages, along with the growth of blockchain data over time, lead to a problem called the “farmer's dilemma”. This dilemma arises when farmers contributing to the blockchain network need to decide how to use their storage space.
Farmers either increase the security of the network by storing the blockchain date, or speed up the verification of transactions by allocating more space for consensus.
A rational farmer usually chooses to allocate space for consensus, because this allows them to earn more rewards. But this choice could harm the long-term security of the network and jeopardize decentralization. This problem becomes even more pronounced in larger blockchain networks, because as the amount of data increases, so do the storage and transaction demands. So what is the solution to this problem that Autonomys offers?
The basis of the solution is the idea of separating storage and processing processes. In this system, farmers are only responsible for storing the blockchain history, and this data is duplicated many times. In this way, the secure protection of the data is ensured. On the other hand, transactions and consensus are carried out on a separate network. This, in turn, allows farmers to focus only on data storage operations.
With this approach, farmers’ storage burden is reduced while the security and decentralization of the network are maintained. This system offered by Subspace allows farmers to operate in an Ethereum - like model in a low-cost, efficient, and secure manner.
Unfortunately, the problems encountered are not limited to this. To illustrate the issue more clearly, you can review the infographic in which I summarize the other problem and what the solution of Autonomys' is.
As a result, Autonomys and Subspace solve the farmer’s dilemma by increasing the security and efficiency of blockchain networks while maintaining decentralization. This solution makes blockchain technology more scalable and sustainable.
If you need more technical details on this and other topics, feel free to review the source documentation.
