Vitalik on Ethereum Plasma, Bitcoin Cash, & OMG Coin?
Vitalik Buterin the founder of Ethereum was in Japan today giving an interview to the Japanese media about Ethereum Plasma and Omisego OMG coin.
The BTC Reddit exploded when folks noticed the Bitcoin Cash website displayed behind Vitalik on a large flat screen TV.
Vitalik recently release an new white paper titled Plasma: Scalable Autonomous Smart Contracts that proposes a new way to scale smart contracts using a faster and more efficient method than before.
TL;DR / Simpler abstract via Mattdf on Reddit:
"Plasma is a way to create a blockchain (as a set of smart contracts) within a blockchain, by simply committing the root hash of the "meta" child chain (Plasma) on the main chain (Ethereum).
The child chain acts kind of like state channels on steroids, and only the final state transition hash is committed to the main chain. If someone commits an invalid plasma state transition hash/block, the protocol incentivizes committing "fraud proofs", where parties who are interacting in the child chain can show that someone behaved maliciously, and penalize them, reversing the faulty transition.
The child plasma chains can themselves also have child plasma chains, and those chains can have child chains, etc... this "tree" of chains can be reduced through MapReduce, such that billions of transactions/state transitions can be trustlessly/verifiably encoded as a simple hash commitment on the root chain."
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What does plasma mean for EOS?
More than likely, nothing.
It means they are falling further behind since they don't even have a blockchain yet.
Love the photo when you say "Vitalik can code with the laptop closed"
Vulcan mind meld with the computer
#solidity4000
Dude you're my spirit animal
kaBOOM!
OMG was soaring today... if you got to the news yesterday you will probably have made some bucks today :)
yes indeed!
Wow! Just about a week or two ago I was having a discussion on bringing blockchain based competitive FPS multiplayer and though it was an interesting discussion, When I went for a blockchain within a blockchain concept that is exactly like the above description, I was taken for a dumb kid.
Bless you Vitalik! Bless YOU! You even tackled the technical hurdles and moved it beyond the concept stage. Thank You!
Realy helpfull post
Thianks for experiences shareing
i upvoted you!
for all steemians on this post......... follow me and i follow you bros! :D
Follow Me : https://steemit.com/@cryptosingle
@champagnecrypto WOW! Thanks for share.......