What is Plasma Technology? [Comprehensive Guide to Plasma Ethereum]
What is Plasma Technology? [Comprehensive Guide to Plasma Ethereum]

By Richard M Adrian | Crypto Info | 30 Oct 2019


What is Plasma? [Comprehensive Guide to Plasma Ethereum]

Plasma refers to a Blockchain technology that acts as a solution for enhancing and enforce the implementation of smart contracts to enable Blockchain to perform significant exchange as requested by many users. A key reason for the foundation of plasma was to enhance transactions by making it to be faster.  Plasma aimed to provide improved scalability by making transactions faster and less crowded. Blockchain has been experiencing some challenges in performing transactions due to many operations taking place here by the implementation of plasma comes in.  

This Blockchain technology will help to speed transactions for the decentralized app to run successfully without the challenge of backlog.Simplify we can describe Plasma Blockchain inside a Blockchain. Plasma establishes an act as a coordinator with the Blockchain that improves communication and interaction as fast as possible within the Blockchain. We can say with the implementation of Plasma Blockchain it  operates in a hierarchical arrangement such that it has numerous smaller chain on top of the main chain.

Plasma structure is built based on Smartcontracts to enable the performance of an unlimited number of child chains which are essential to the implementation of Blockchain. Moreover, plasma gives a chance of inbuilt more chains when the need arises. Each plasma child chain is in a position to customize the Smartcontract so as it can serve different needs of the user or work only in a singular way. A road map of plasma is to enhance and support a solution to Blockchain to help them implement their different needs.

 

Plasma Goals

Enable a single Blockchain to manage other chains- the main chain will form the basic chain which will give directive to child chains. However basic chain will not interfere with the operation of the child chain unless there is contradiction.

Minimize system trust- plasma aims to remove third parts or the intermediaries in the Blockchain this is enhanced by the system regulating all transactions involved.

Localize calculations- each node should perform its calculation, unlike the previous operation where all calculation was done by main Blockchain hence slowing transaction. In this case, basic Blockchain will only be receiving an update.

Provide fraud-proof- this aim to stop all the acts of malicious behavior.

Scale the ledger- this is to enhance and facilitate the Blockchain to produce data quickly. Blockchain stores large data and hence they are a need to have a system to produce the data much faster.

Feature of Plasma

Fraud Proofs

Frauds proof is a protocol that will be used to secure communication between child chains and the respective root chain.  To ensure safeness the root chain in charge of ensuring network security and blocking attacks. However, each child chain is allocated with its mechanisms of verifying and validating blocks associated with fraud-proof implementation which is on different consensus algorithms.

With fraud proofs, users can report any dishonest nodes, malicious activity, fund protection and ability to quite a transaction with the main chain.

MapReduce

Mapreduce is referred to as a set of functions that are used to carry out computation of data across the Blockchain. This is to enhance the transaction and ensure the safety of each transaction. However, for performing this data calculation MapReduce takes a limited number of steps.

Map- is a condition of sharing information between different nodes

Reduce- this involved the participant nodes that computes data size and returns the final value.

Step 1 Map

  •  A problem is assigned to the second chain by the first level chain.
  • Then the second level chain share the problem with the third level

 

Step 2 Reduce

  • The third level solves the problem and provides the result to the second level chain
  • Then the second level chain provides feedback to the first level.

To provide a scale Blockchain computation plasma gives a room where nodes are given economic incentives to operate the chain.

A Bitmap-UTXO 

This is a committed structure that ensures the transaction is accurate from the basic Blockchain. It also ensures that they are the implementation of decentralized exchange and payments.

 

Incentive Layer 

This is a layer that that computes contracts effectively and economically.

 

Mass Exists Problem

this feature helps Blockchain to solve the problem of network congestion due to many people trying to exist basic chain at the same time. Having child chain Blockchain will be in a position to present such cases in different nodes.

 

Benefits of Plasma

  • Plasma will help Blockchain to handle more datasets than the current situations.
  • Plasma will help to reduce unnecessary data in the main chain, therefore, reducing the processing power.
  • Reduction of transaction fee and time due to having a smaller number of nodes
  • increase in data storage for the Ethereum based application hence improving ledger scalability.

Plasma can be referred to as an off-chain that aims to increase the performance of the Ethereum network by creating child chains which will help to reduce the overall work performed by the basic chain, therefore, increasing transaction per second. Plasma proposed projects will increase the deployment of decentralized applications. However, this project not only for Ethereum but also it can work with other cryptocurrency networks to help them avoid scalability in the future.

 

 

 

 


Richard M Adrian
Richard M Adrian

I analyze bulls and bears in crypto markets


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