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?

Improve this question

2 Answers 2

Reset to default
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.

Improve this answer
2
  • 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?
    – RagHaven
    Commented Jan 29, 2018 at 3:45
  • Hi, i dont have that much idea about it now. Haven't tried the plasma based smaet contract.
    – Vixon
    Commented Jan 31, 2018 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.

Improve this answer

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

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