Ethereum has a problem that is hard to ignore: it can not support many users right now. The second largest block platform in the world has recently had a large number of capacity issues, including increasing the fees for smart contracts that occasionally torment transaction times and disrupt new ICO releases. This proposal would be a solution to reduce the congestion of the Ethreum network, generated by the Initial Coverage Bids (ICO) and the decentralized applications (Dapps).
However, a new solution called Plasma is rapidly emerging as a solution to this problem from Vitalik Buterin and Joseph Poon. Not only is Buterin the creator of Ethereum, but Poon is the co-author of the Lightning Network report. Plasma is a proposed framework for enforced and enforced the execution of smart contracts that is scalable to a significant amount of status updates per second (potentially billions), will enable much faster and more cost-efficient data transmission Computational.
Poon sincerely believes in Ethereum’s mission to become a global computer that “replaces the farms”, and there is no doubt that it’s climbing obstacles will be overcome. With Plasma, the system connects the “Babies” Blockchains (or new, secondary strings) with the “main” Blockchain with something called “fraud tests”, this way the main Blockchain would be unbound. It is similar to the Lightning Network, the idea that Poon posted a couple of years ago for Bitcoin since it is a top layer that interacts with a Blockchain Core later. While the Lightning Network simply worked strictly for payments, Plasma extended the idea to more complex calculations, such as Ethereum’s smart contracts.
“Basically, you want to do some math, let’s say it’s very complicated and time-consuming, and you ask someone to do it for you,” Poon said.
At that time, someone puts a solution with a monetary “bonus”, say $ 10, arguing that the solution is correct. Users not only trust that the solution is right, there are controls and balances. “Anyone else in the world can say, ‘No, you’ve screwed up here, in step seven,'” he explained. If proof is provided that the initial solution is incorrect, others can calculate it and identify the error. In addition, users have the option to resend the computation to the “main” Blockchain if they suspect fraud, solving the debate definitely. According to Poon, all participants know that they can be identified and penalized, they are unlikely to try to defraud the system. Plasma enables the continuous operation of decentralized applications on a large scale.