Speaking in Paris at the EthCC conference, Ethereum co-founder Vitalik Buterin has presented a solution for scaling the smart contract system Plasma, which is aimed to increase the computing power of the blockchain.
Plasma is a technology designed to improve the performance of smart contracts in the Ethereum network. In fact, this is one of the many solutions to the blockchain scaling problem.
The current version of the prototype requires all users to download and verify each smart contract in the system. Vitalik Buterin described a method that allows reducing this process to a minimum set of data. He suggests that users generate so-called Plasma coins by sending funds to the contract. Thus, instead of installing and confirming, users can simply track the tokens they created inside the system.
First, such a system will help solve the problem of network scalability. Secondly, it will protect the exchanges from large-scale hacker attacks, because instead of directly using users' funds they will ensure the work of the order book using Plasma smart contracts.
The idea, developed by Buterin together with Dan Robinson and Karl Floersch, still requires careful testing, but all of them are confident that this will be the first successful step in solving pressing issues.