|
|---|
Hope you all are doing well and good and enjoying the best days of your life. This is me @shahid2030 from Pakistan and you are here reading my post. You all are welcome here from the core of my heart.
This is my participation in a contest Plasma Chains organized in a SteemitCryptoAcademy community by @crypto-academy.
What is a plasma chain in the context of blockchain? And how do plasma chains help solve blockchain scalability issues? |
|---|
First let me tell who have developed this chain. Plasma chain was developed by Joseph Poon and Vitalik Buterin. Now let's talk about what actually plasma chain is, and what is its function?
Plasma chain is actually a side chain along with the main chain. It is rooted in the main chain. Plasma chain processes transections and let me tell you that it's speed is more than the the real main chain. Plasma chain cost less fee than it's main one.
The aim of this chain is to help solve scalability issues by offloading some of the transaction processing from the main blockchain. All the transactions occur on the plasma chain, while the main blockchain is only for the essential information that periodically submitted through it. This helps in the reduction of burden on the main blockchain, increasing overall scalability while maintaining security through periodic validation on the root chain. It sometimes proceed more transections than the real one, and help lowering the cost of transections.
What is the main difference between a plasma chain and the main blockchain? |
|---|
Mostly the function of both the chains are somehow same, but we have slightly difference in their roles.
| Main Blockchain | Plasma Blockchain |
|---|---|
| It is the primary Blockchain layer | It is the secondary layer for transections. |
| The main Blockchain processes all the important transections. | The plasma chain is designed for another purpose. its function is to handle a subset of transactions off-chain. |
| Here the transections are somehow slow. | Transactions on plasma chain is too much fast. |
| It has a normal fee. | It's fee is too much less than that of main Blockchain. |
Are there any concrete examples of applications or projects using plasma chains successfully? |
|---|
Plasma chain don't have too many major projects developed on it, but yeah we have some and let me mention there named here. They are; OmiseGO, Lightning Network, and Loom Network.. You may find all these here on coinmarketcap Link.
As I have already mentioned that plasma chain main aim is to decrease the burden on the main Blockchain, that's why too much work has not been done on it yet.
OmiseGo*: OMG (OmiseGo) is an online exchange and payment platform. It was built on the Ethereum network. The unique thing about it is, that it is run by its side chain(plasma) Link.
Lightning Network:Lightning Network: It is a network for instant micropayments. It allows anyone to send cryptocurrencies without requiring a trusted intermediary. It is said to be designed for bitcoin. As other plasma chain it tries to solve scalability problems of the main Blockchain by not needing block confirmations. It can do too much transections per second and plus point is that it allows small transections to do without any cost Link.
Loom Network: It is also developed on Ethereum Blockchain. Here the second layer solution is bootstrapping. Here the developer writes a Smart Contract in the language of his preference. In short Loom Network is a Platform as a Service (PaaS) that allows Ethereum based Solidity applications to be run on public, permissioned and private chains link.
How could the potential integration of plasma chains on the Steem Blockchain influence the speed of transactions and associated costs? |
|---|
We are already aware of the function of the plasma chain, that it bring beneficiary to it main Blockchain. Same steemit also gets benefits out of it's Side chain ( plasma chain). This chain do these various function for the steemit.
Transection speed: The transections speed of steemit is so high, and as in other Blockchain system here too it because of the the plasma chain. Currently steemit is doing thousands of transections per second and it's possible just because of of it's child chain (plasma).
Cost Reduction: Usually plasma chain cost too much low fee compared to it main Blockchain. When the majority of transections happens on this side chain the fee become lower, so steemit is using that mechanism to provide transection with lower fee to it's users.
Scalability: Integration of plasma chains enhances the scalability of the Steem Blockchain.When a portion of the transaction load moves to a secondary layer, the main blockchain are free to focus on essential functions, allowing for more efficient use of resources and accommodating a larger number of transactions.
Are there any plans or discussions within the Steem Blockchain community regarding the exploration or implementation of plasma chains? |
|---|
No one can answer it 100% correctly because non of the user know this thing with surety, because non such announcement has been made by the steemit team or it's not mention in their white paper.
Still we can do some prediction which are based on current situation. Steem coin is currently gaining it's value and it's price is becoming stable by day. Steemit team is also trying to further increase it's price, so in future we can predict the steemit team might get complete services of Plasma chain.
If the transections are hundred percent fast and the fee is low and their is more scalability within the project, of course too many investors will show their interest in this project. This will help grow both the steemit and steem coin. We can hope that steemit will take the services of Plasma chain in future.
This is all about my blog for today, hope you guys have enjoyed reading it. See you soon with a new amazing and interesting topic, till take care.
| I would like to invite:@aaliarubab
| @goodybest, @mayepariata, @rosiortega, @pathanapsana, @emsonic, @artist1111, @miyexi, @kouba01, @mile16, @ridwant, @pelon53 @solaymann @waterjoe , @willmer1988, @msharif, @ripon0630 to participate in this beautiful contest |
|---|
Your presence here means alot
Thanks for being here
Regard shahid2030
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
The periodic validation by the entity is important to ensure the the security of the main chain on which it runs is not compromised.
Great article from you my friend. wish you the best in this contest.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Slam brother 😊
Its a pleasure to read your publication that you have provide us the brief overview of plasma chains and their role in any of Blockchain. Yes indeed the Plasma Chains are the side chains which works along with the main Blockchain and reduce the burden of transactions on main Blockchain and reduce their fees also. I'm really very impressed by your entry.
. success to you 🤗
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Love to see you here brother. Thanks for your precious time. Keep blessing.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You are always welcome brother 😊
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Saludos cordiales amigo shahid2030.
Otra semana con Blockchain de capa 2 (L2), estas vienen a solucionar problemas de escalabilidad que tienen las Blockchain como Ethereum y Bitcoin, estas usan mecanismos de consenso diferentes pero si su seguridad depende de la Blockchain principal, estas son ramificaciones donde se llevan a cabo las transacciones y donde queda la mayor parte de la información, así descongestiona y agiliza todo.
Te deseo suerte y bendiciones.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you so much brother for being here. God bless you too.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your post has been successfully curated by @𝐢𝐫𝐚𝐰𝐚𝐧𝐝𝐞𝐝𝐲 at 35%.
Thanks for setting your post to 25% for @null.
We invite you to continue publishing quality content. In this way you could have the option of being selected in the weekly Top of our curation team.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I will always try to keep my content high. Thank you so so much dear for the support.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings @shahid2030! 👋 Your detailed explanation of plasma chains is impressive making it accessible to readers. I appreciate how you've connected the concept to real examples like OmiseGO Lightning Network and Loom network providing practical insights. Your exploration of how plasma chains could influence the Steem Blockchain's speed cost and scalability is well thought out. speculating on potential plans or discussions within the Steem community regarding plasma chains adds an interesting touch. Best wishes and I hope your insights contribute positively to the contest! 🌟🚀 Good luck! 👍
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you so much friend for the compliment. Really appreciate your kind words. God bless you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Dejas claro que el funcionamiento de la cadena de plasma según su objetivo es mejorar la escalabilidad de la red principal. Sin embargo, debo señalar que la cadena lateral no es lo mismo que la cadena de plasma. Son muy similares en cuanto que aportan un mejor rendimiento transaccional.
La cadena de lateral es paralela a la principal y la de plasma lo hace de manera jerárquica creando cadena secundarias (arbol de Merkle).
La cadena lateral es mas vulnerable por ser una red mas pequeña mientras la de plasma es más segura por estar anclada a la seguridad de la cadena principal.
La cadena lateral es ofrece gran flexibilidad e interoperabilidad, la cadena de plasma también es flexible pero tiene problemas de interoperabilidad por estar vinculado a la cadena principal.
Has respondido adecuadamente a todos los tópicos del desafío, lo cual aporta mucho conocimiento en el tema.
Saludos y muchos éxitos.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Love to your too much positive response in my post. Thank you so much. God bless you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bhai aapane is topic ko bahut acchi Tarah se cover kiya hai main aapki baat se agree karta hun k plasma chain main blockchain ke sath connected hoti hai aur iske alava plasma chain bht saray issues ko sort out krny k liyee best Hy
Aapane main blockchain aur plasma chain ka bahut achcha difference byan Kiya hai . Main blocks per har Tarah ki transactions ki verification Hoti hai jab ke agar Main plasma change ki baat Karun To vah kuchh specific transactions ke liye important hai ...Main aapko good luck kahta hun
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Really appreciate your positive response dear. Thanks for being here. God bless you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Greetings friend,
Your breakdown of plasma chains is truly impressive! You've made it easy for readers to grasp the concept. I really liked how you connected it to real-world examples such as OmiseGO and Loom Network, providing practical insights.
Your thoughts on how plasma chains could benefit the speed, transaction cost, and scalability of the Steem Blockchain are well-reasoned. It's fascinating to ponder the potential plans and discussions within the Steem community regarding plasma chains. Best wishes to you, my friend and Good luck!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Really appreciate your kind and precious words my friend. Thanks for being here. God bless you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit