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What is PLASMA?
Plasma is an innovative off-chain scaling solution particularly designed for the Ethereum blockchain. It was introduced in August 2017 by Vitalik Buterin, co-founder of Ethereum, and Joseph Poon, a prominent advocate of scaling solutions like the Lightning Network. Plasma serves as a framework that enables the creation of scalable applications by establishing a hierarchical structure of child chains above the main Ethereum chain.
At its core, Plasma allows for the development of potentially infinite side chains that can operate independently while still relying on the Ethereum network for security and consensus. This architecture is underpinned by smart contracts and Merkle Trees, which efficiently handle transactions and data storage.
Core Objectives of Plasma
The primary aim of Plasma is to increase the throughput of the Ethereum network. By diverting a substantial volume of transactions away from the congested main chain, Plasma's architecture offers higher transaction speeds, more efficient data processing, and lower transaction costs. This is particularly vital in an age where demand for decentralised applications—especially in finance, gaming, and supply chain management—is reaching unprecedented levels.
For details, please read: What is Plasma?
