Plasma is a Layer 2 scaling solution designed to boost Ethereum's scalability and efficiency. By creating a framework for sidechains (child chains), Plasma processes transactions off the main Ethereum blockchain, settling them in batches.
Key Benefits
- Faster Transactions: Off-mainchain processing enhances speed ⚡
- Lower Fees: Reduced costs make transactions more accessible 💰
- Scalability Boost: Enhances Ethereum's capacity without compromising security 🌐
How Plasma Works
1. Child Chains: Process transactions off the main Ethereum blockchain
2. Periodic Settlements: Batch transactions settle on Ethereum mainnet
3. Fraud Proofs: Ensure security and integrity of transactions 🔒
Projects like Polygon (formerly Matic) have implemented Plasma-like solutions to enhance Ethereum's scalability.
