Ethereum founder Vitalik Buterin, yesterday in Paris I Ethereum community conference, participated in the EthCC and presented a scaling solution for Plasma, a system of intelligent contracts aimed at increasing the computational potential of the world’s second largest bloc chain.
The past year, Buterin and Bitcoin Lightning Network The scaling solution created by Joseph Poon, the creator of the Unity, is one of the many developmental stages that works by creating an intelligent contract layer that can interact with the main block chain. However, the iteration of the current prototype of the project requires all users to download and verify each intelligent contract in the Plasma system. However, Buterin mentioned a method that could limit this to a handful of data points in his new speech.
“The main benefit here is that the amount of data that customers have to deal with is very small,” Buterin said.
Buterin says that users can create “Plasma coins” by depositing money into the contract rather than downloading the entire Plasma history. Therefore, they can easily track the tokens they create in that system without having to worry about downloading and confirming everything.
This idea, put forward by Buterin and developers Dan Robinson and Karl Floersch, has not yet been tested. But according to Buterin, this scaled-down system could have a number of important use cases, such as crypto money exchanges, from large-scale hackers.
The vision is that stocks can provide order book functionality rather than directly handling user funds and can insure losses through Plasma contracts.
‘I hope that no one will lose money in hacked stock markets’
Finally, Buterin said, “I hope no one will lose money when the billions of dollars worth of stock market hacking is written by an incompetent developer.”