The co-founder of Ethereum is positive about a similar solution to plasma resizing

Vitalik Buterin talked about a way to increase the speed of the transaction on the Ethereum network …

by Manoj Sharma for CNR

Vitalik Buterin, the co-founder of Ethereum, has expressed his optimism about a similar plasma-resizing solution on the Ethereum network, which will allow 500 or more transactions per second.

A few days ago, Matter Inc. launched the project, called Ignis, in collaboration with the Ethereum Foundation. The solution will allow Ethereum to manage 500 transactions or more in a single second, which is an admirable improvement of the current 15 TPS.

As per an article published in Medium on Ignis, the solution changes the way in which transactions are verified with a completely new approach.

In Ignis, user verification of transactions is replaced by the following approach:

"Operators who propose blocks must submit a SNARK that proves that the new block is correct, which is automatically verified by the intelligent contract.No wrong operator can ever include an incorrect block, so users do not necessarily need to be online and constantly monitor 39; transaction activity. "

Vitalik Buterin also expressed his positivity on the topic on Twitter:

Plasma is thought to be a two-level scalability solution. This means that instead of improving the Blockchain itself, it will create a special construction connected to its network and provide better throughput.

The goal is to run all apps with multiple users and ensure minimal interaction between its framework and the main Ethereum chain.

In simple terms, Plasma intends to allow Etherium Blockchain to continue managing large volumes of smart contracts by transmitting only completed transactions.