Cointime

Download App
iOS & Android

Polygon co-founder explains how to stop inscriptions from crashing networks

Inscriptions, a form of digital collectible created by writing data into the calldata or witness fields of a blockchain transaction, have caused degraded performance or even crashes on several blockchain networks, including Arbitrum, zkSync, Avalanche and others. But Branden Farmer, co-founder of Polygon, claims that parallelized Ethereum Virtual Machines (EVMs) may solve the problem once and for all.
Inscriptions were first created on the Bitcoin network. After the Taproot upgrade in 2021, Bitcoin users discovered that the upgrade allowed them to embed data into the “witness” field of a transaction, allowing images, tokens and other types of digital collectibles to be minted on the Bitcoin blockchain. Some users saw the new collectibles as a benefit to the network, while others regarded them as “spam.”
But the craze didn’t stop with Bitcoin. Soon, inscription producers started minting them on Ethereum sidechains and layer-2s such as Arbitrum, Avalanche and Polygon. Instead of being written into the witness field of a Bitcoin transaction, this new type of inscription was written into the “calldata” field of an EVM-based network. Since calldata doesn’t get stored in a smart contract’s state, this allowed producers to create their collectibles at a fraction of the cost of minting a traditional nonfungible token (NFT).
However, this cheap method of minting eventually caused high fees and instability for several blockchain networks as users increasingly flooded the networks with inscription transactions. On Dec. 15, Ethereum layer-2 Abitrum went offline for over 70 minutes from inscription spam. During December, half a dozen other blockchains also experienced degraded performance or extremely high fees as a result of these mints.



In a conversation with Cointelegraph, Farmer claimed that parallelized EVMs may help to resolve this problem. In his view, parallelism allows unrelated transactions to be processed faster, increasing the throughput of blockchains and potentially allowing them to handle the spam.
“In general, the EVM is executed sequentially, so every transaction in a block must be executed in order,” Farmer stated. “It doesn’t matter if it’s an NFT transaction or a Uniswap transaction, two things that have no dependency on each other, we process those transactions sequentially.”
However, with a parallelized EVM, transactions that are not related can be processed simultaneously instead of sequentially. “At the same time, we could be processing your Uniswap transactions and your inscriptions and your NFT mints,” Farmer claimed.
This ability to simultaneously process two or more transactions can allow the network to “localize gas fees to areas that contend with each other.”
For example, if many different people are trying to use Uniswap at the same time, they may have to pay higher fees, since their transactions are related to each other and must be processed sequentially. However, other users who are trying to mint NFTs would be mostly unaffected by this surge in Uniswap usage. Conversely, if the network experiences a surge of inscription mints, this may result in a rise in fees for inscribers, leaving other users mostly unaffected.
Farmer stated that this “localized gas fee” feature has not yet been implemented on Polygon, but it is ultimately one of the goals.
Another benefit of parallelism is an overall increase in throughput, Farmer stated. The Polygon team has already implemented “Block-STM,” which is a “first step” toward parallelization. And even with this small step, they saw “a 1.6x improvement in performance” and “either [have] achieved or will soon achieve a 2x improvement.” This means allowing the nodes to sync to the network and process blocks two times faster, leading to a greater ability for the network to handle spam.According to Farmer, parallelization was originally proposed by Solana developers, but the idea is now being implemented on multiple blockchains to improve performance, including not only Polygon but also Aptos, Monad and others. However, the Ethereum ecosystem is taking a new approach to this concept by combining parallelization with the increase of block space through layer-2 ecosystems, including Polygon 2.0, he claimed.

Comments

All Comments

Recommended for you

  • U.S. July Nonfarm Payrolls Fall by 23,000, Missing Market Expectations

    On August 7, U.S. nonfarm payrolls decreased by 23,000 in July, compared with market expectations of an increase of 80,000, and the previous value was an increase of 57,000.

  • US May and June Nonfarm Payroll Additions Revised Down by 103,000 Combined

    On August 7, the US Bureau of Labor Statistics: May nonfarm payroll additions were revised down from 129,000 to 63,000; June nonfarm payroll additions were revised down from 57,000 to 20,000. After the revisions, the combined additions for May and June were 103,000 lower than previously reported.

  • U.S. Rate Futures Market Sees Lower Odds of Fed September Hike

    On August 7, the probability of a Fed rate hike in September as priced by U.S. interest rate futures declined.

  • New York Gold Futures Top $4,400 per Ounce

    New York gold futures topped $4,400 per ounce, up 2.36% on the day.

  • Japan Finance Minister: FX Market Affected by Moves Not Driven by Actual Demand

    Japanese Finance Minister Satsuki Katayama said she and U.S. Treasury Secretary Bessent agreed that the foreign exchange market has been affected by moves not driven by actual demand.

  • BTC Breaks Through $65,000

    Market data shows BTC has broken through $65,000, currently reported at $65,007.44, with a 24-hour increase of 0.6%. The market is highly volatile, please exercise risk control.

  • Brent Crude Drops 2.00% Intraday to $81.07/Barrel

    Brent crude oil fell 2.00% during the day, now at $81.07 per barrel. (Jin Shi)

  • Trump: Data Centers May Be More Important Than Oil

    August 7 news, U.S. President Trump said in an interview with Punchbowl News, "I saw the other day that Texas seems to be opposed to building data centers. I think that's a mistake. I'm not taking a position—I just think it's a mistake, because there are other communities that want to build data centers. When a community is willing to accept data centers, it means a lot of money will flow into that community. I don't think they're ugly. Some of the data centers I've seen are the most incredible buildings I've ever seen. They are very important to the economy. If Texas says no to data centers, that's a mistake, because data centers may be more important than oil."

  • Trump to Meet with Mining Executives

    On August 7, according to CCTV International News, US President Trump will convene executives from some of the world's largest mining companies at the US State Department on August 7 local time, in an effort to take action to 'secure critical mineral supplies for the US and its allies.' Reuters reported that the US urgently needs critical minerals to replenish weapons inventories depleted during the war against Iran. During the more than five-month war with Iran, the US military expended large quantities of precision-guided missiles and air defense interceptors. US defense officials and lawmakers have warned that given existing production capacity constraints, replenishing some stockpiles could take years—although the Trump administration has denied reports of a so-called 'severe shortage of ammunition stockpiles.' According to Pentagon officials and defense companies, supplies of minerals such as rare earths, tungsten, germanium, and scandium are essential for manufacturing precision-guided missiles, fighter jets, armored vehicles, infrared sensors, and other advanced weapons systems. Expected attendees include industry giants such as global mining giant Rio Tinto Group, Australia's BHP, US Freeport-McMoRan, US Mountain Pass Materials, US Rare Earths, US Energy Fuels, and Canada's Metals Company. According to sources, the Trump administration plans to announce multiple deals and memorandums of understanding.

  • US Regulators Systematically Review Chinese AI Firms' Third-Country Computing Power Leasing

    August 7 news, according to Bloomberg, people familiar with the matter revealed that the U.S. government department responsible for investigating chip export control violations is reviewing Chinese AI companies' leasing of computing power in third countries to obtain Nvidia advanced chips.