Buterin, co-founder of Ethereum, stated that teams currently engaged in zero-knowledge Ethereum Virtual Machines (ZK EVMs) should consider Plasma again. Once, Plasma held a strong position as an Ethereum layer-2 growth solution.
Buterin emphasized that although rollups remain the ‘gold standard,’ Plasma represents an ‘underrated design space’ one should pay attention to. “Plasma can be a significant security upgrade for chains that would otherwise be validiums,” he said.
Introduced in 2017, Plasma shifts data and processes except for money ins, outs, and Merkle roots – to an off-chain workspace. The two solutions that took its place, Optimism and ZK-rollups, were highlighted because of their affordability and unbeatable security features, according to a Twitter post-Buterin made mid-November.
Exit games for EVM validiums: the return of Plasmahttps://t.co/QgyzXAl0wv
— vitalik.eth (@VitalikButerin) November 14, 2023
Buterin’s post emphasized that while rollups remain the “top-notch standard,” Plasma is another valuable resource worth noting. It’s overlooked but essential. Buterin also mentioned that Plasma could be a big security boost, especially for chains that would typically be validiums.
ZK-EVMs are becoming a reality this year. It’s a great chance to delve into this design area. We’d be able to create better designs. These designs can make coding easier and safeguard users’ money.
Validiums, like Plasma, shift data and calculations off-chain. They employ ZK-proofs for transaction verification. Contrarily, Plasma relies on fraud proofs, which work at a slower pace.
Vitalik Buterin’s Vision: ZK-Proofs Revitalize Plasma for Ethereum Layer-2 Scaling
Buterin states that enhancements in ZK-proofs, like validity proofs, take on Plasma’s old drawbacks. This makes Plasma more liveable in a scaling way. Buterin hopes that the Ethereum layer-2 ecosystem will grow with various technology options.
Babe wake up Vitalik just revived Plasma
— sassal.eth 🦇🔊 (@sassal0x) November 14, 2023
Buterin also agreed that before ZK-proofs became popular, tweaking Plasma for use outside of payments was a big obstacle. Buterin sees different tech methods shaping Ethereum’s layer-2 setup in the future. Different versions of Plasma, such as Minimal Viable, Plasma Cash, and Plasma Flow, exist.
In 2019, Polygon Labs started using Plasma. This company focuses on making Ethereum faster and has used other methods. Why did some people stop using Plasma? Partly because Plasma Group, a nonprofit research company, said in January 2020 that they wouldn’t use Ethereum to make it faster anymore.
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Buterin’s post stirred quite a ripple. After his update, OMG, an associated token of the OMG Network, rose considerably, up 28.6% to 78 cents. It later dipped down 14.3% to 67 cents, says CoinGecko.