Ethereum + Lightning? Buterin and Poon Unveil 'Plasma' Scaling Plan

[bbc.reporter]

Do they really have a real solution for the yet unsolvable problem in blockchain? They said sharding and the switch to proof of stake will fix Ethereum's problems with scalability but until today, it has not been proven as technically possible.

Now they are trying a new solution that might also be a dead end. How long can Vitalik give ETH followers the run around until they realize that there might be no solution?



Criticism remains

Some are skeptical, however. The technical idea behind these systems has been extensively discussed in blockchain communities, and has attracted both adamant supporters and obstinate rivals.

Every public blockchain protocol will eventually butt up against scaling limits. Bitcoin, the most-used blockchain today, was the first to show signs of scaling problems, with seemingly endless debate following after.

But, long-time critics argue that ethereum's scalability problems are more pronounced since it needs to store so much data to become the dreamed of "world computer."

On the subject of Plasma in particular, Vlad Zamfir, ethereum's proof-of-stake research lead, has offered some critical commentary already. He tweeted yesterday that he's "honestly not excited" about the project, arguing that he abandoned a similar project in 2015.

Poon, though, doesn't seem phased by Zamfir’s pessimism. And Buterin doesn't either, clarifying that Plasma is complementary to ethereum's current scaling work: sharding, which looks to boost capacity at the base layer of the protocol.

Still, Poon admitted there's a long way to go. Taking the idea to production will take "a lot of testing." Again he compared Plasma to Lightning, which has made huge strides in the past couple years, but is still incomplete.

Read in full https://www.coindesk.com/ethereum-lightning-buterin-poon-unveil-plasma-scaling-plan/

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[cryptorTUX]

This is the point. Blockchain is not perfect for money it is perfect in a sense to be distributed and and decentralizd database we all can trust but when scalibility comes in place then there comes the tricky part. Even bitcoin is adding extra layers such as SegWit and Ligthin Network to combat this issue which is why I don't blame ethereum for coming for their own solutions. Let them implement plasma and we can see how it will play out. Vitalik is simply trying out new options as ethereum is based on the blockchain and ethereum must move towards blockchain that is scalable, fast and node friendly.

[coupable]

Vitalik is simply trying out new options as ethereum is based on the blockchain and ethereum must move towards blockchain that is scalable, fast and node friendly.

The new layers are a fundamental addition for the ethereum network, not only because bitcoin added similar options to overpass some issues because bitcoin has no competitor yet, that Ethereum is not only facing scalebility problems but also have to compete with other ecosystems aiming to facilitate the adoption of the smart-contracts and make it friendly-use such as EOS.
Early talk about if this may really help but hopefully ethereum is always considered as an under-developement ecosystem which related its progression by fixing accuring bugs and the full analyse of the market.
So remind: Ethereum is still an undervalued token until reache its full developement.

[ramarianz]

now i just worried about are ETH wallet safe ?
rather than upgrading their TPS,since a few weeks ago i hear thousand wallet got hacked,but idk how hacker get their wallet,
because most of them, never login with private key.

[Ctn]

Wow I cant imagine when this upgrade will be done for the ETHEREUM. The plasma project does have out fo the box thinking and it can really boost the transaction to all new levels and dimensions. If that is true thing then ETH can go crazy 100x or may be more than that I believe. The economics of the ETH will rise gradually and suddenly we will see more usage of the ETH platform. This upgrade is also mandatory for one important reason that it is getting its popularity decreased these days due to other platforms with full scaling model. So to get that one back on track you have to seek this update soon.

[kindbtc]

I think this is a very optimistic update for ethereum and its scaling issues, if this is true that the ethereum network will speed up and also become cheap after implementation of these extra layers then it is definitely a good news for eth fans, i think if they are able to put forwanrd and inplement these solutions this year eth holders will definitely go to moon.

[Cryptoprimes]

Plasma rocks It will allow computation off-blockchain that is absolutely enforcible on-chain, and is scalable to billions of computations in a second, with minimal on-chain updates. I guess it will be a huge step forward.