U.Today – Vitalik Buterin, the co-founder of , recently returned to the topic of a blockchain scaling solution. His latest article dissects the complexities and potential of plasma, which has caught the attention of industry leaders, including Charles Hoskinson, who responded with a contemplative GIF of Kermit the Frog.
Plasma, first introduced in 2017, was designed to improve blockchain scalability by handling data and calculations off-chain, except for essential elements such as deposits, withdrawals and Merkle roots. It promised significant improvements in scalability, but was largely overshadowed by rollups due to its limitations, such as high client-side data storage costs and challenges beyond simple payment solutions.
Source: Buterin’s thesis revolves around plasma rejuvenation, propelled by advances in validity proofs (such as ZK-SNARKs). These technological advances could potentially address Plasma’s main challenges, making it more efficient, particularly for payments. However, he notes that while a large amount of assets could be secured using Plasma, it is not a one-size-fits-all solution, especially for complex applications.
The Plasma chain has an operator responsible for releasing new blocks and sending users to Merkle branches for their coins. The inherent risk lies in operator fault, requiring users to be vigilant and exit their assets quickly if anomalies are detected.
Buterin explains how to generalize Plasma to accommodate fungible tokens such as USDC, discussing technical and economic hurdles. It also covers the intricacies of adapting Plasma to the Ethereum Virtual Machine (EVM).
The main takeaway from Buterin’s article would be an updated perspective on plasma, given recent advancements that could revitalize its utility in the blockchain ecosystem. It invites developers and enthusiasts to revisit this once famous solution, which, despite its limitations, remains promising for certain applications.
This article was originally published on U.Today
Get the news you want
Read market news with a personalized feed of the stocks that interest you.
Get the app