Ethereum founder Vitalik Buterin presented the solution for scaling to project Plasma, a system of smart contracts designed to increase the computing capacity of the second largest blockchain platform in the world. The idea was described Baleriny the Conference community Ethereum (EthCC), passing these days in Paris.
We will remind, the project Plasma, was developed by acne together with the co-founder of Bitcoin Lightning Network Punom Joseph (Joseph Poon), first began in August last year. Plasma is one of numerous projects to enhance the capacity of Ethereum, which is still under development, and an interesting solution for the creation of smart contracts which can interact with the main bloccano.
Currently, users will have to download and confirm every smart contract in the system of Plasma, and Buterin offered a way to limit this limited number of data points.
“The main advantage is that the amount of data that must be processed to customers, significantly reduced”, — explained the boy.
Instead of having to download a complete history of Plasma, Buterin offers users to generate a so-called “Plasma coins” by sending a Deposit to the contract. Thus, instead of setting and confirmation, users can simply track the tokens that they have created within the system.
“Now users need to verify the availability and correctness of chain Plasma only for special index that is associated with the coins that they want to spend, which are owned and which are of their interest,” said Buterin.
The technology was created Baleriny together with developers Dan Robinson (Dan Robinson) and Carl Florsheim (Karl Floersch), and, according to the creators, still requires testing. However, Buterin believes that this minimized the system can have numerous applications, for example, is able to protect the funds of cryptocurrency exchanges in large-scale hacker attack.
So, exchanges can work with means users not directly but provide the functionality of the book of orders and payments using smart contracts Plasma.
“Let’s hope that when the next exchange, working with billions of dollars, with code written completely incompetent developer is compromised, no one will lose their money,” said Vitaly Buterin.
It is important to note that the technology is able to accelerate the solution of the problem of network scalability, which is especially important now, when the platform is hardly time to adjust to the growing load.
“This is just one simple way to make Plasma more scalable and significantly reduce the requirements for its use by common users,” explained Buterin.
We will remind, earlier it became known that a non-profit organization Ethereum Foundation to start payments to the winners of the first stage of the program of grants for network development. A total of 13 winning projects received $2.5 million.
In addition, in January, acne Buterin announced that it completed the first part of the work on the roadmap other technology — “sharding”, which allows to scale the database network.