Steemit Crypto Academy Contest / S14W1 -Plasma Chains
Plasma chain in context of blockchain is just like secondary blockchain that works alongside the blockchain which is main. Plasma chain is used for the improvement of scalability and reduction of load at root chain.
Issues related to scalability at blockchain are solved by plasma chain by enabling off chain transactions. Through plasma change large number of transactions are processed off chains rather than processing of a single transaction being recorded at root chain. After that periodically these transactions are submitted to root chain which reduce burden over all at main network or at main blockchain.
Commitment proofs is a technique that is used by plasma chain for achievement and improvement in scalability. Commitment roof gives surety that all transactions that are processing at plasma chain could be trusted because these are valid. In this way commitment proofs are responsible for the verification of integrity of all the transactions without any need to have a storage of data at root chain.
When load reduces from main blockchain due to plasma chain then root chain can be more focused at validation and securing all those commitments that are made by plasma chains. It permits for massive number of transactions that can be processed which leads to more scalability.
Main difference between plasma chain and main blockchain I am going to describe here;
Root chain is another name that we use for main blockchain and here all transactions as well as small contracts are validated as well as they are also recorded.Main Blockchain is designed in this way that all data remains secure and decentralized which gives surety in integrity of data stored at blockchain.
Plasma chain purpose is to maintain scalability and its working is alongside main blockchain.Issues related to scalability at blockchain are solved by plasma chain by enabling off chain transactions. Through plasma change large number of transactions are processed off chains rather than processing of a single transaction being recorded at root chain.
Plasma chain and main blockchains both are different majorly in their roles and functions.At main blockchain, final and critical transactions are recorded so in this way high level of security is maintained in this way.
A plasma blockchain is a kind of flexible blockchain by which high volume of transactions can be handled and it is responsible for off chain transactions.Commitment proofs is one of the important technique that is used for validation of transactions at blockchain.
By the use of plasma chain transactions load from the main blockchain is reduced which helps to alleviate congestion and helps in improving scalability.Through plasma chain transactions fees is also reduced associated with on-chain transactions as well as they enable more faster and efficient transactions.
In plasma chain we have to face delay in finalization of transactions because plasma chain is not directly connected to main Blockchain.If there is any glitch in validation of transactions at plasma chains then there would be a need to escalation of that issue to main blockchain for resolution of glitch.
Here I am with some of the examples of applications or projects that are used by the plasma chains.
1. OmiseGO (OMG)
OmiseGO is a financial platform that is blockchain based which is the responsible for providing decentralization in financial services and it implements plasma chain which is known as MoreVP for the enhancement of scalability and transactions.Secure,fast and efficient off-chain transactions are enabled by MoreVP so peer to peer transfers are conducted in this way.OmiseGO plasma chain successfully processed transactions to high extent but maintain security and integrity of Ethereum which is main blockchain.
2. Loom Network
Loom network is a platform Which is more focused about the creation of scalable blockchain games as well as applications and importance this network also developed a plasma chain known as basechain.Basechain help in scalability improvement and enhancement of user experience and high performance applications are also enabled by basechain.Axie infinity is one of the most important project that is created at loom network plasma chain and it is blockchain based game which permits player for the collection, breed and battle digital creatures called axies.Axie infinity handles large numbers of in-game transactions in an efficient way.
3-Matic network
Matic network is an network that utilise plasma chains.At Ethereum layer 2 scaling solution is built and plasma chain is used here for processing off-chain transactions and then at Ethereum mainnet final result settles.Matic network provides cheap and fast transactions but decentralization of Ethereum also remains maintained.
At steem blockchain, potential integration of Plasma chains can have a great impact on transaction speed and cost.
Plasma chain is responsible for the enhancement of scalability of blockchain network like steem. By the integration of Plasma chain large portion of the transactions processing of steem blockchain can offload to this secondary chain. In this way transactions speed up and their cost also reduces.
STEEM Blockchain processes on-chain transactions so due to this all transactions verified and recorded at main blockchain. When number of users and number of transaction increases at this blockchain then it leads to congestion which as a result make transaction process to happen in slow way and with high cost.
At Steem blockchain transactions activity also occur off-chain with the integration of Plasma chain. Transactions are operated independently as well as they are processed and verified at plasma chain but still it remains connected to main steem blockchain. By doing this it is very clear that plasma chain can handle high volume of transactions which results in faster transaction processing times.
Either plasma chain operates in an independent way skill it can have its own consensus mechanism as well as it can also charge its on transaction fees or cost. In this way it permits for more flexible fees as well as it also reduce the costs that are associated with the transactions at steem network.In this way it becomes more easy for users to participate in steem ecosystem.
Implementation of other small complex and decentralized applications at steem blockchain is also enabled by integration of Plasma chains. When plasma change provides increase scalability then developers build more sophisticated application which requires high level of transactions. In this way more vibrant ecosystem at steem blockchain attract more users and helps in encouragement of further adoption.
Steem is using graphene now a days as an additional layer that provide security and smoothness in transactions. But I can say according to my knowledge that there could be implementation of plasma chain at this blockchain for more scalable environment.
Steem layer 2 is just like upcoming of plasma chain at steem blockchain so if there would be official announcement of plasma chain implementation at steem blockchain then it would be very helpful in making transactions in more faster way as well as processing transactions in cheapest and safest way.
I am very optimistic and hopeful that steem blockchain would get more success day by day by introducing new projects and implementing them like plasma chain.If I talk about exact dates of the implementation of project plasma chain then there are no exact knowledge and information I have regarding this but I really wish to see steem to be such a developing platform day by day by introducing such kind of projects.
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Best of luck for contest. Wishing you success.
Hello brother.
You have discussed every concept in your own words that too in detail.
Definitely, there are many issues in main blockchain and that can be solved by using Plasma chains as It distribute all the transactions load to many side chains which result in high scalability of the main blockchain.
Good luck for the contest.
First of all I want to say thanks to you that you manage your time to read my post and I am very happy to see your encouraging comment and I agree that the issues that we face most of the times at main blockchain can be sort out in a very easy way by plasma chains. I wish good luck to you and soon I would be there at your entry
Your post about plasma chains and the Steem Blockchain is awesome ! I learned a lot from your clear explanations. Best of luck in the contest you have got my full support Your examples of projects using plasma chains make it easy to understand. I m excited about the potential impact on the Steem Blockchain. Your Positive outlook is contagious! Keep up the fantastic work and here to more success ahead!
Thank you so much for your valuable comment at my post as well as I agree with you that I tried my best to explain examples of the projects that are using plasma chains.
Yes there could be a lot of potential impacts of implementation of Plasma chains at steem blockchain I also visited your entry which was very valuable and informative I want to say Good luck to you again and thanks for wishing me too
Brother your publication about the Plasma Chains is totally awesome and well articulated. You have shared your thoughts with us about the plasma chains which are totally insightful and informative. I'm very glad and impressed by your entry. Thank you so much for sharing your knowledge with us 😊.
Success to you 🤗
I am happy to see your comment that you consider my publication well presenting and well structured and if I talk about some of my thoughts about this topic then I agree with you that I tried my best to convey maximum of my knowledge and information to all of you I have also visit your entry which was very interesting I wish you success
Yes no doubt that your publication was very well written. I wish you more success 💖
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Efectivamente cuando la cadena principal se concentra más en la validación y la seguridad de las transacciones, dejando el procesamiento de la operación a las cadenas de plasma, se descongestiona o alivana de la carga que tenía aumenta su rendimiento.
Ethereum comenzó a descentralizarse mucho más con la cadena de plasma y su escalabilidad mejoró muchísimo. Entendieron el dicho que dice: "el que mucho aprieta poco abarca". Es decir, encontró quien hiciera el trabajo pesado con más autonomía de manera más eficiente y en tareas pesadas específicas, pasando a tener un rol de administrador o supervisor más que ejecutor.
Gracias por aportar conocimientos en tu contenido.
Te deseo mucha suerte y éxito.
First of all I want to say thanks to you that you leave your extensive comment at my post and then I really agree with you that when we talk about validation and security of transactions in most appropriate and accurate way then nothing can be more good option then plasma chain
If I talk about plasma chain benefits then yes scalability could be improved to a greater extent as you have talked about ethereum that scalability has been improved with their, after the implementation of Plasma chain so due to its efficiency and ability to carry out heavy tasks it could also be very beneficial for steem betterment
I wish good luck to you I have also visited your entry that was quite interesting
¡Saludos y feliz día!
Hey there,
I really appreciate how you explained every concept in your own words and went into detail. It's awesome how plasma chains can solve scalability issues in the blockchain by allowing off-chain transactions, by distributing the transaction load to multiple side chains, plasma chains can greatly improve the scalability of the main blockchain.
Good luck in the contest
Thank you so much for your extensive comment and meaningful reply as my post and I am happy that you clearly understand all the things that I have tried my best to explain as well as I agree that scalability issues could be solved as well as of change transactions could be occurred without any issue at plasma chains
Agree with you that when at main blockchain transactions traffic increase then it becomes difficult to handle all the transactions which results in decrease in its speed and efficiency also so at that time plasma change really helps
I have also visited your entry which was very expensive and formative and thanks for wishing me good luck.Same wishes are for you