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Crypto Terms:  Letter P
Jun 19, 2023 |
updated Apr 02, 2024

What is Plasma?

Plasma Meaning:
Plasma - an off-chain scaling solution created for the Ethereum blockchain that seeks to increase the efficiency of the network.
2 minutes

Let's find out Plasma meaning, definition in crypto, what is Plasma, and all other detailed facts.

In August 2017, Vitalik Buterin and Joseph Poon presented Plasma as a scaling solution for Ethereum. However, the concept might also be adapted and integrated into other blockchains. Joseph Poon was also a proponent of the Lightning Network (created for Bitcoin). This explains the scaling parallels between Plasma and Lightning Network. However, note that their techniques and procedures still differ.

In a nutshell, Plasma is an off-chain solution. It aims to substantially improve the performance of the Ethereum network. Plasma does that by shifting the majority of tasks from the main chain to a series of smaller chains. 

The Plasma structure is developed to work as a blockchain tree. It has numerous "child chains" constructed on top of the "parent chain." The Plasma framework is based on smart contracts and Merkle Trees. This allows for the creation of an infinite number of side chains.

The child chains are developed to run a customized smart contract. Because of that, businesses are able to tailor the Plasma structure to their own requirements. This allows users to build different Plasma smart contracts for distinct use cases. 

Plasma leverages the security provided by the main chain to set up multiple child chains to work in a predetermined way. As a result, the main Ethereum blockchain is less likely to become clogged.

The public repository of Plasma can be acquired on their GitHub page. Besides being an improvement for Ethereum, Plasma can be a great starting point for other networks. It could provide them with scaling solutions that they might need. However, keep in mind that Plasma alone is not a project. It’s a framework for developing scalable applications. The applications can be deployed in a variety of ways by various research groups or businesses.