Plasma has been lauded as the Ethereum saviour since first being announced back in 2017. However, almost three years later, we’re still waiting for it, but what exactly is Plasma and what will it do for Ethereum?
The Problem with Ethereum
Before you understand what Plasma is and what it will do for Ethereum you first need to understand what the problem with the Ethereum blockchain is.
Like all decentralized blockchains, Ethereum is suffering with slow transaction times. When you make a transaction with your ETH, you broadcast it to the network, and a miner will pick up your transaction, verify it send it to the nodes, who then send it back to the miners before they add it to the blockchain.
The problem is that many others are sending transactions at the same time, and the more popular it gets, the more transactions will be sent, and for now Ethereum can only handle up to 15 transaction a second, which is pitiful if you compare it to a centralized server like Google. Read More at Ethereum Nexus