⚡ Ethereum/OmiseGO Plasma 'coming soon' ⚡ Vitalik posts 'minimal viable plasma implementation'
Ethereum is moving forward and the Plasma protocol is nearing implementation! Vitalik Buterin posted a 'minimal viable plasma implementation' online, which has sparked a response by the OmiseGO team. Plasma is one of the scaling solutions of Ethereum and OmiseGO is the premiere project to use it.
MINIMAL VIABLE IMPLEMENTATION
Vitalik Buterin, the founder and lead developer of Ethereum, posted a 'minimal viable plasma implementation' today, which is a document that aims to provide the basic security properties of Plasma in a simplified way. It's not quite as simple as that highly complicated sentence makes it sound - I copied and pasted that description because I couldn't make heads or tails out of that document.. that's how simplied it is..For those with more technical and programming expertise, I believe the document describes how the Plasma protocol should work logically. By doing this Vitalik has given any developers a freebie, as they only need to code it using this document as a guide.
PLASMA
So what is Plasma? It's another scaling solution for the Ethereum blockchain which allows for more data to be sent each block. After doing some research online, I have found that Plasma can be likened to Bitcoin's Segwit solution: unnecessary data gets stripped from the blocks to make it so that more data can fit inside.Sounds like a great plan, and with the Ethereum community being far more flexible I can see a Plasma adoption outpacing the Segwit adoption.
The main project that will use Plasma is OmiseGO, whose lead developer Joseph Poon is also the co-author of the Plasma whitepaper. Vitalik is, as many of you know, an advisor to the OmiseGO project as well.
COMING SOON
After Vitalik posted his paper on the minimal viable implementation, the OmiseGO team was quick to respond per Twitter and tweeted the following:
(source: Twitter )
Don't forget to read the part at the bottom: Soon means soon, but not tomorrow. OmiseGO probably did this because they suffered quite some criticism during the summer for alleged overhyping of news. It is encouraging news though! The coming of Plasma is sure to do good things for the price of the OMG token, which is doing well but has not seen the explosive growth yet that some other cryptocurrencies have.
>> Click here to view the Minimal viable Plasma Implementation by Vitalik <<
>> Click here to visit the OmiseGO website <<
Upvoted and resteemed! More great news for OmiseGO. I’m really looking forward to their next steps toward a working product. I follow you for news on this topic. Thank you.
Thanks!! I write a lot about OmiseGO so when there's news I'll definitely report it (unless it's all over the place already... I like to stay relevant!).
But OmiseGO I have high expectations for! They've got a lot of serious businesses involved, Vitalik's backing and they're close to delivering real milestones. I feel like 'huge news' can arrive any moment now, though I'm kind of expecting that it will probably be around february/march. We'll see though!
oh boy this is exciting for my OMG coins.....
Hodl on to those :P
Palm Beach Confidential predicted them to be $700 each in a couple of (2-3) years, in their PBC report during the summer.
Sounds very high and I was unsure myself, but seeing the current market and it's insanity... I'm not sure it's that far off of an estimate ;)
I think $50-100 each in the near term is very possible. Waiting for the milestones in Q1 and Q2.
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