In an interview from March of this year main developer Jaguar0625 had this to say regarding the scalability and strength of the public Catapult chain;
“The Catapult public chain will support higher TPS than the NEM public chain (~2 TPS) but it will not natively support the 4000 TPS number that is thrown around so often. That would require much stronger nodes on average than are currently running the NEM public chain, and we don’t want to do anything that disincentivizes running nodes. The network is already relatively small, and we’d prefer to see it grow rather than shrink.”
I am not a tech-guy so please correct me if I am wrong but I thought about a holistic solution that could perhaps turn public Catapult chain into the most scalable, robust and valueble blockchain in the entire world. It’d be nice to get some feedback regarding this vision, whether it’s attainable and/or realistic, or whether I am just daydreaming about a utopian future/new economy movement.
So my solution is basically this; create a hybridized node structure, mixing current node model with lower node requirements and implementing government run nodes (the strong robust nodes).
Currently it’s very expensive to run a supernode, seeing how xem value is expected to rise perhaps it’s better to lower the requirement to run a supernode, for example requiring 300k XEM rather than 3m XEM. This model could be supported indefinitely if part of all the fees on the network get collected into a so-called supernode fund. This is one way to grow a stronger network and get more nodes running.
The other part of the equation is to basically incorporate governments to run special NEM nodes. Governments basically have infinite resources and technical capabilities from a technology point of view. In order to incentivize governments to run special nodes a clearinghouse settlement layer ought to be created on the public Catapult chain run by participating governments. They get the benefit of instant (near) free cross-border transactions by using XEM for clearinghouse settlements and we get the benefit of having the most scalable, robust and valueble blockchain in the world. In order to achieve that NEM Foundation ought to set up a sub-foundation, for example “NEM Fintech Inc.” where government officials can be represented and determine the policy that best suits their needs. We could even allow governments to not only reap the direct benefits of free cross-border transactions but also let them come up with models themselves to generate revenue by cutting out the banks and clearinghouses, opening up a multi-trillion dollar market for them.
Any feedback, especially from devs themselves, would be highly appreciated :).