1

I'm new to the blockchain space and I am trying to grasp some fundamentals before delving into programming smart contracts. Please correct me if I am wrong regarding any of the following. This is just my understanding as of now.

Plasma will enable me to run 1 or more smart contracts on a separate chain on top of the Ethereum root chain. I will have validators/miners for my off-chain smart contracts. I should also be able to create a token that can be used to pay transactions costs.

If this is the case, how do I create validators/miners for my token? Is there a specification for this? Also, are there any good resources for understanding how to create a plasma staking token?

2

You should watch this if you haven't.

In the video, Chris is explaining how can you create plasma compliant SC on Ethereum Blockchain.

& for the other part of the question of validators/miners, I guess, because your SC will be used by a lot of people, then it shall generate buzz and you shall have people who shall direct their hash power to your plasma SC i.e. separate blockchain on plasma.

Thanks.

  • I haven't watched the video yet. Thanks for pointing it out! From an implementation perspective is there anything that developers need to do to enable people to direct their hash power to the plasma SC? or does it just automatically work by staking your SC tokens? – AndroidDev93 Jan 29 '18 at 3:45
  • Hi, i dont have that much idea about it now. Haven't tried the plasma based smaet contract. – Vixon Jan 31 '18 at 19:22
0

With Plasma, the idea is kind of a like a map reduce functionality with a smart contract anchored on top of, say ethereum. So, one parent chain (ethereum being the parent to that chain), could have other child chains from it, which reports back to it. Ideally, each chain could be an echo system of its own, with its preferred consensus mechanism based on use case, and secured by its parent chain.

But all these are in paper now, and there are several problems that are not solved and research going on. There is a minimal viable plasma implementation going on by different teams. Its based on UTXO model, like bitcoin. Account based model, pos and staking tokens would be a bit in the future I would think, and of course after casper is implemented fine.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.