Friends, Daily Steemit contests or challenges are increasing the enthusiasm and delight among my fellow Steemians. This week, we entered a number of new contests, and I hope everyone who desires and is able to participate can do so with me. In any case, I'd like to be a part of it. I'd like to welcome and extend a warm greeting to everyone.

​What is a plasma chain in the context of blockchain? And how do plasma chains help solve blockchain scalability issues?

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A plasma chain refers to a distinct blockchain which is linked to the main blockchain known as the root chain. Its operation is independent, and it utilizes its way of validating blocks. Sometimes plasma chains are called child chains, which may be considered miniature reproductions of the basic blockchain. Fraud proofs are used by plasma chains to arbitrate on fraudulent actions within their optimistic rollups. Plasma chains address scalability problems of the main blockchain through increased transaction speeds that are also cheaper in the child chains.

​What is the main difference between a plasma chain and the main blockchain?

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Unlike in the main blockchain, which is autonomous, the plasma chain needs safety as well as arbitrage functions provided by the main one. Plasma chain has also its own sets of parameters and rules which can be tailored for specific applications such as gaming, social networking sites, as well as decentralized exchanges. The chain plasma makes its commitment to the underlying chain at some intervals and provides the trust layer of finality for the underlying blockchain. However, the main blockchain operates independently of some other chain and uses none of it for calculating its status or validity.

Are there any concrete examples of applications or projects using plasma chains successfully?

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As per my research and studies, some real-world applications or projects have been using plasma chains effectively, for example, OMG Network, Matic Network, and Loom Network. OMG Network is a scalability solution based on plasma where fast and reliable assets transmission on Ethereum can take place easily. It includes ERC-20 tokens and states that it can save users’ transactions costs to a minimum of 33%. Another plasma-scaled networking called Matic network gives a platform for creating and deployment of decentralized apps on Ethereum., Provides low latency & throughput support on multiple asset types like; ERC-20, ERC-721, & ERC-1155 tokens. Loom Network is a plasma-based scaling solution that focuses on gaming and social applications on Ethereum. It permits developers to create scalable and compatible DApps with user-friendly features, such as free transactions, cross-chain asset transfers, and identity management.

How could the potential integration of plasma chains on the Steem Blockchain influence the speed of transactions and associated costs?

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As per my revisions, on a Steem Blockchain, some possible ways that integration of plasma chains could impact transaction speed and fee are discussed. In the first place, it would enhance the transnationality throughput and minimize the confirmation period on the Steem Blockchain. Additionally, it could reduce the transaction costs and resource credit prices on Steem Blockchain since plasma chains are capable of offering lesser and even adjustable pricing policies against the primary chain. Firstly, it could increase the user experience and capability of the Steem Blockchain, since plasma chains would support many other applications, and even assets that will not fit with the main chain.

Are there any plans or discussions within the Steem Blockchain community regarding the exploration or implementation of plasma chains?

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I think, the discussion and even the plans for Plasma Chains among the Steem Blockchain are very little. Nevertheless, certain proposals and initiatives like the Hive Engine, the Steem Engine, and the SMTs(Smart Media Tokens) try to improve the scalability and performance of the Steem Blockchain. A smart-contract platform called Hive Engine works on top of the HIVE blockchain, that was derived from the Steem blockchain. With this, it is possible for the users to mint and transfer new types of tokens like Hive tokens, non-fungible tokens (NFTs), Decentralized Autonomous Organizations (DAOs) on Hive. Another comparable platform referred to as the Steem Engine operates on top of the Steem Blockchain but does not work with the Hive Engine. Moreover, it provides for the development and trading of new tokens, NFTS and DOS at Steem. SMTs stand for Smart Media Tokens which is a native token protocol for the Steem Blockchain. Using this, anyone can create as well as launch of his or her own tokens on Steem. SMTs were developed to be compatible with the Steem reward system, which motivates participants to create and curate content.