Plasma Chain: It's Commonalities With The Main chain In The Blockchain Ecosystem

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Good day family,

How are you all doing, I hope you are all fairing great and are enjoying your promotion work in the community

I am happy to come to share an interesting post concerning plasma chains with you all.

In our last post, we discuss about the advantages of plasma chain to the crypto ecosystem and today, we shall be learning about the similarities between plasma chain and the main blockchain.

In one of our discussions, we have learnt about the difference between plasma chain and the main blockchain.

Now, let's examine some of their similarities, please tag along as we examine this.

THEY ARE DECENTRALIZED SYSTEM

One major similarities between a plasma chain and the main blockchain is that they are both decentralized systems.

Decentralization is a very important aspect of the blockchain technology, as it aims to eliminate the interference of a third party or a middleman in it's activities, thus building a peer-to-peer network where it's participants can validate and come to a collective agreement on the state of the ledger.

In both plasma chain and the main chain, the maintainance of the integrity of the system is being done by nodes across the network.

SAME SECURITY SYSTEM

Another unique similarity between plasma chain and the main blockchain is their security system.

They both make use of cryptographic techniques such as digital signature and hash functions for the security of transactions and they also ensure that the ledger remains Immutable.

The overall security of the main blockchain and the plasma chain is dependent on the consensus mechanism, which helps to show how the nodes reach an agreement on the genuinety of transactions.

CHALLENGE AND GOAL OF SCALABILITY

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The challenge and goal of scalability is another commonality between the plasma chain and the main blockchain.

With the increment in the number of users and transactions, scalability becomes very vital in the network so as to prevent congestion and also maintain network efficiency.

Both chains make use of the same techniques such as side chains and sharding for scalability enhancement and also accomodation of a larger volume of transactions without network compromise.

CONSENSUS MECHANISM

Another unique similarity between the plasma chain and the main blockchain is their consensus mechanism.

They are both dependent on consensus mechanism for their operation, as the consensus mechanism act as a cornerstone for their operations.

While there exist several consensus mechanism such as delegated proof of stake, proof of work, proof of brain, proof of stake etc, they all have same underlying principle, that is, the state of the ledger must be agreed upon by the nodes through a secured process.

There may be variation in the choice of consensus mechanism, but their goal remains the same, which is the agreement on the validity of transaction.

SMART CONTRACTS

Smart Contract happens to be another commonality between the plasma chain and the main blockchain.

Smart contract which we know to be self executing agreements which are written directly into codes are supported by both plasma chain and main blockchain.

The support of smart contracts by both parties helps to enable automated and programmable execution of predefined agreement without the interference of a third party.

This feature helps in the enhancement of the transparency and efficiency of different processes within the decentralized ecosystem.

INTEROPERABILITY

Interoperability is another similarity between a plasma chain and the main blockchain.

Interoperability is known to be ability of a chain to seamlessly interact with other blockchain network, and this helps to improve the overall utility of the chain.

Both architecture makes use of cross chain communication protocol standard for the facilitation of interoperability and to build a more interconnected blockchain ecosystem.

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The plasma chain and the main blockchain share fundamental principles such as interoperability, smart contract, consensus mechanism etc.

These similarities helps to build a more efficient interconnected and efficient blockchain ecosystem.