$XPL #Plasma #PlasmaXPL @Plasma
Plasma technology is not an independent cryptocurrency (like Bitcoin or Ethereum) but a technical solution to increase scalability proposed in 2017 by Vitalik Buterin and Joseph Poon to increase the speed of the Ethereum network and reduce its fees.
Here is a simplified and brief explanation of how it works:
1. The basic idea: "Child Chains"
Plasma relies on creating miniature networks linked to the main network (Ethereum). Imagine Ethereum as the "supreme court", while Plasma chains are the "local courts":
Most operations and transfers are moved from the congested main network to these subchains.
Subchains process thousands of transactions quickly and at low cost.
2. How does it work technically?
A smart contract as an anchor: assets (such as ETH) are locked in a smart contract on the main network.
Roots: Plasma chains do not send every transaction detail to Ethereum but only send a "hashed summary" (Hash) that represents the final state of transactions periodically.
Security: Since the main network holds the "roots", users can always revert to it to recover their funds if there is an error or fraud in the side chain.
3. The difference between it and other solutions (such as Rollups)
While Plasma was revolutionary when it was launched, it faced challenges that led to the emergence of newer technologies such as Optimistic Rollups and ZK-Rollups:
Data challenge: In Plasma, users must constantly monitor the network to ensure there is no manipulation, otherwise they may need to provide a "proof of exit" to recover their funds.
Complexity: It was difficult to implement with complex applications (such as decentralized trading platforms), and its greatest success was limited to simple transfers.
4. Is it still around?
Yes, but it has evolved. The Polygon (MATIC) project originally started as a solution based on Plasma technology (called Matic Network), but later evolved into a platform that supports multiple technologies. There is also renewed interest in integrating Plasma technologies with ZK-SNARKs to improve their performance.
Summary: Plasma is a "side road" that reduces pressure on the main "highway" (Ethereum), making transactions cheaper and faster without sacrificing the security of the parent network.
