Hello everyone!
Steemit Crypto Academy is back with another amazing challenges per week and I am always excited to participate in Steemit Crypto Academy contests as We get to learn many things from these contests. Let's start this post without wasting any time.
What is a plasma chain in the context of blockchain? And how do plasma chains help solve blockchain scalability issues?
Plasma Chain is just an off chain of main blockchain like Ethereum and It is similar to these main blockchains but due to more congestion in these main blockchain, Vitalic Buterin and Josheph proposed idea of these Plasma Chains.
It is also known as Child blockchain as these are like branches of main blockchain. Let me explain you with a simple example.
Let's suppose, If you want to go from place A to B and there is only one road to go to that place then, there will definitely be huge traffic as there is only one road. But to solve this problem, there are small small streets are made to reach that place, then everyone can go through these streets as this will result in decreasing the traffic from the main road.
That's what Plasma Chain is all about. It is just like a sidechain as similar to small streets from above example. These chains are introduced to remove the congestion and traffic from the main chain.
Plasma chains helps in solving the scalability issues of blockchain as it removes the traffic from the main chain which will result high scalability of the blockchain.
Let me tell you about scalability. Scalability is just the capacity of the blockchain like how much transactions it can handle per second.
With these Plasma chains, As It removes all the traffic and Hence, It results in faster transactions in the main blockchain and In this way, It solves the scalability issues of the blockchain.
What is the main difference between a plasma chain and the main blockchain?
Now, Let's discuss some differences between Plasma Chain and main blockchain.
- Plasma Chain is only off-chain and controls only few transactions whereas Main blockchain controls all the transactions and It is the main hub which means It is the Parent Chain and Plasma Chain is just a child chain.
Plasma chain is just like a street which removes traffic from the main road and Main blockchain is the main road.
Main blockchain is the main hub where all transactions takes place and Plasma Chain helps in removing traffic from the main blockchain which improves the scalability of the main blockchain.
Plasma chains verified transactions by using smarts contracts from the main blockchain whereas Main blockchain processes the transactions on its own.
Plasma blockchain is generally an off chain and hence, It has less transaction fees whereas Main blockchain has high transaction fees.
Are there any concrete examples of applications or projects using plasma chains successfully?
There are many projects which used Plasma Chains and let's discuss about these projects.
Polygon Network
Plasma Chains is used by Polygon Network and this network is based on Ethereum blockchain and they used Plasma Sidechains to enhance the security and scalability of their network.
Plasma Chains helps Polygon network to shift transactions off chain or some sidechains which generally helps in faster and cheaper transactions in this network and hence, improves the flexibility and scalability of network.
OMG Network
OMG Network uses Plasma chains which works on child chain mechanism and overall, It helps OMG Network in various ways.
OMG Network is originally called Omise Go and It uses Plasma chains as it's scaling solution as we all know that Plasma chains helps in improving scalability of the network.
As Plasma reduces the traffic from the main chain in a way like the transactions of the main chain are distributed among various sidechains which removes the traffic and help in improving the transaction speed of the network.
In simple words, let's assume a network without Plasma chains and that network will not able to process as many transactions per second which the network with plasma chains can process.
How could the potential integration of plasma chains on the Steem Blockchain influence the speed of transactions and associated costs?
Integration of Plasma on the Steem blockchain will definitely influence many points of the blockchain. After the integration, transactions of the main Steem blockchain will be distributed among many off chains or side chains which will decrease the congestion of the main chain.
It will definetely improve the scalability of the steem blockchain as after integration of Plasma, Steem users can process transactions in side chains and as a result, It will faster the transaction speed.
Steem users will be able to make transactions in side chains which will allow them to pay lower fees as compared to the main chain.
Plasma will help in enhancing the flexibility and security of the Steem blockchain by adding Sidechains in it and It will preserve the security of the main blockchain. In this way, Plasma chains will influence the Steem blockchain after it's integration.
Are there any plans or discussions within the Steem Blockchain community regarding the exploration or implementation of plasma chains?
Well, Steem blockchain community always try to integrate new things to make this blockchain better. Actually I am not fully aware from the Steem Community like about their plans of implementing Plasma chains.
But as I have discussed in my second last post of Steemit Crypto Academy, Plasma Chains is a type of Layer 2 Blockchain and If Steem Community implements Plasma chains, then We will definitely see many many improvements in the Steem blockchain.
I would like to suggest Steem community to look out for this as Plasma chains which is a part of Layer 2 blockchain will help Steem blockchain by improving the scalability of the platform.
After it's implementation, We will see improved security, flexibility and Plasma will also help in enhancing the user experience as It reduces the noise from the main chain and with the improved user experience, It can attract many users to this blockchain.
Conclusion
I have discussed about Plasma chains in this post. It is a part of Layer 2 Blockchain which solves many issues of the main blockchain. I have discussed some projects which are using Plasma chains.
That's all from my side. It was really an amazing topic for this week and I am glad to participate in this contest.
I would like to invite @steemdoctor1, @yancar, and @casv to participate in this contest.
Thank You!
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Saludos cordiales sachin08.
Muchas gracias por la mención en tu participación.
Las cadenas de bloques laterales y las ramificaciones de estas son las que reciben el nombre de Plasma, no son completamente proyectos Blockchain sino más bien soluciones de escalabilidad, poseen características individuales pero dependen por completo de la capa 1.
Genial tu participación, te deseo el mayor de los éxitos.
Feliz y bendecido día.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for your valuable comment friend. I will wait for your entry.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Acá esta https://steemit.com/hive-108451/@yancar/concurso-steemit-crypto-academy-s14w1-plasma-chains
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@sachin08 Happy to see your enthusiasm for the Steemit Crypto Academy challenges! Your detailed explanation of plasma chains and their potential integration with the Steem Blockchain is impressive. I appreciate your analogy of main roads and side streets making it super easy to understand. The comparison between Plasma Chains and the main blockchain is clear and insightful. Your examples of successful projects using plasma chains add real-world context. Exciting potential for Steem Blockchain with plasma integration especially in terms of transaction speed and lower costs.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm glad that you found my explanation clear. Thanks for going through my post.
Have a good day.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Plasma chains operating offline gives it the beauty it has. The ability to process huge amounts of data faster and cheaper than online processing.
It is a wonderful project, which we expect that it is integrated into the steem Blockchain. Looking forward to that.
Love reading your post. I wish you the best in in this contest
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
True. Plasma chains reduces load from the main blockchain which helps it in enhancing it's scalability and flexibility.
Thanks for reading my post
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings brother 😊
Yes the plasma chains work along with the main Blockchain because they are the side chains which are linked with the Blockchain. They record the transactions on the side chains and reduce the burden on main Blockchain thus the scalability of Blockchain improves. In fact your publication is very interesting and well written. Thank you so much for sharing with us 😊
Success to you 🤗
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for going through my post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You are always welcome 🤗
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
TEAM 4
Congratulations! This post has been voted through steemcurator07. We support quality posts and comments!Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Utilizar el ejemplo del tráfico a través de calles secundarias en lugar de la autopista principal para ir del punto A al punto B, es una buena analogía para explicar el funcionamiento de las cadenas de plasma y nuevo rol de la cadena principal.
Ethereum entendió que no podía hacerlo todo en su cadena principal y que debía delegar sus tareas más pesadas para lograr un mayor rendimiento sin sacrificar su seguridad.
Te deseo mucho éxito.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings friend,
I have to say, you did an amazing job explaining plasma chains and how they could work with the Steem Blockchain. Your analogy about main roads and side streets really made it easy to understand, like picturing the big highways and the smaller streets. It's super clear and insightful how you compared Plasma Chains with the main blockchain.
And I love that you gave real-world examples of other projects using plasma chains successfully. It helps us see how it could be applied in practice. The possibilities are seriously exciting for the Steem Blockchain if it integrates plasma.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you so much for participating in this engagement challenge again I'm really happy to see your post as well as I really like the way in which you explained this topic very well as well as if I talk about main difference then I considered that it's really interesting which you are saying that plasma chain is just like something that moves traffic from the main road and main blockchain is the main road from which the traffic is moving towards the plasma chain
You have presented with some of the very concrete examples but one of them that you explain in most proper way is polygon example which I really like and I learn from it was a good presentation of your post I wish you success in this engagement challenge
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit