Plasma is a proposed framework for scaling the Ethereum network. It is a second-layer solution that uses smart contracts to create a network of child chains off the main Ethereum blockchain.
Plasma could potentially scale Ethereum to process millions of transactions per second.
What Is Plasma Ethereum?
Plasma is a proposed scaling solution for the Ethereum network.
Plasma is designed to address the scalability issues that have plagued Ethereum since its launch. Currently, the Ethereum network can only process around 15 transactions per second.
NOTE: WARNING: Plasma Ethereum is an experimental technology that is still in its early stages of development. It is not recommended to use Plasma Ethereum for any financial transactions until it has been fully tested and found to be secure and reliable. Before using Plasma Ethereum, it is important to understand the risks associated with investing in or using any cryptocurrency, including the potential for loss of funds or data.
This is not enough to meet the demands of a global decentralized economy.
The Plasma framework would allow for an unlimited number of child chains to be created off the main Ethereum blockchain. These child chains would be able to process their own transactions independently of the main chain.
This would greatly increase the overall throughput of the Ethereum network and allow it to compete with centralized solutions like Visa and PayPal.
There are several different Plasma implementations being developed by different teams. The most well-known implementation is Plasma Cash, developed by Vitalik Buterin, Joseph Poon, and Dan Robinson.
Plasma Cash uses a novel data structure called a Merkle Tree to track ownership of tokens on the child chain. This allows for Plasma Cash chains to be much lighter than traditional blockchain solutions and reduces the amount of data that needs to be verified by each node.
Plasma Cash is currently being tested on the Ethereum testnet and is expected to launch on the mainnet in 2019.
8 Related Question Answers Found
Plasma on Ethereum is a decentralized platform that uses smart contracts to run an electronic peer-to-peer exchange. The platform is designed to be scalable and secure, and to allow for the creation of new financial instruments and applications. Plasma is built on top of the Ethereum blockchain, and uses the same underlying technology.
LP Ethereum is an open source, decentralized platform that runs smart contracts on a blockchain. It is a platform for developers to build decentralized applications (dapps). LP Ethereum is also a public blockchain that anyone can use to send transactions and build apps.
LPT Ethereum is an open source, decentralized platform that runs smart contracts on a blockchain. It is a platform for developers to build applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is unique in that it is the only major blockchain platform that allows users to create their own smart contracts and decentralized applications (DApps).
Rocket Pool is a decentralized Ethereum pooling service that allows users to earn a stake in ETH by contributing their computing power to the network. The pool uses a smart contract to aggregate the resources of its users and then allocates rewards based on contributions. The Rocket Pool project was launched in 2017 by an Australian team of developers.
SLP Ethereum is a new smart contract programming language that enables developers to write more secure and efficient smart contracts. It is based on the Solidity programming language and provides a number of advantages over Solidity, including better security, improved performance, and easier development. SLP Ethereum is still in its early stages of development and is not yet ready for production use.
Swarm is a distributed storage platform and content distribution service, a native base layer service of the ethereum web 3 stack. In Swarm, users are able to send transactions and store data in a decentralized way. The data is stored in a decentralized manner on the ethereum blockchain and is accessible to anyone who has an internet connection.
An interface in Ethereum is a contract that allows two separate contracts to interact with each other. It is a way to make sure that the contracts are compatible with each other. The interface is like a contract template.
Infura is a hosted Ethereum node service. It is one of the most popular Ethereum node providers and is used by many decentralized applications (dApps) to connect to the Ethereum network. Infura allows dApps to interact with the Ethereum network without having to run their own Ethereum node.
