The Plasma group is transformed into Optimism to help improve the Ethereum network.
Currently, although Ethereum remains the second largest cryptocurrency by market capitalization, it still has several aspects to improve.
While the other cryptocurrencies are offering new alternatives to improve the scalability, security and speed of their transactions, ETH seems to be lagging behind.
However, Ethereum has been working to improve those aspects. Not only in order to match other digital currencies, but to overcome them. That is why by 2020 it has planned several updates, such as those contemplated for Ethereum 2.0. They are expected to have a great impact on the price and performance of the cryptocurrency.
But this is not the only sector in which they want to make improvements; And that’s where Optimism’s work comes in.
Optimism, which previously belonged to the Plasma group, aims to use a layered approach, similar to that of Bitcoin Lightning Network. This with the aim of increasing the number of people who can use the network with smart contracts.
Transition from Plasma to Optimism in the Ethereum network
Last year, Plasma realized that the market did not need the solution they were working on. This “He led them to develop their Optimistic Rollup approach.”
Upon realizing this, they decided to change their approach and thus Optimism was born. However, some industry critics see this transition to a startup for profit as a controversial movement. Bitcoin advocates argue that plasma experiments “failed.”
Even Dragonfly Capital’s partner, Ashwin Ramachandran, described this transition as “the death of plasma.”
“It’s like this alien who transformed many times in many different ways and finally died … at least in the way he launched initially.”
Despite the bad reviews it might have, Optimism maintains its goal of improving Ethereum’s network.
However, although the Dragonfly Ramachandran has had his doubts about the arrival of Optimism, he is quite optimistic about Ethereum’s optimistic rollups.
In fact, I assure you that these were “the future of Ethereum’s scalability” with “all the things that Plasma promised but did not fulfill.”
However, he did explain that the future was “uncertain” about the second half of the Optimism plan. Specifically you have doubts about the quadratic financing that may involve the addition of a network token beyond ETH.
«I don’t necessarily need my own token. I could use Ether ».
I am a student of International Studies, interested in new technologies and their impact on the world. Faithful believer that tenacity is the basis of success.