Ethereum's Vitalik Buterin Calls for Revisiting Plasma as a Scaling Solution

Plasma, Once Prominent, Gets a Second Chance

Ethereum co-founder Vitalik Buterin believes that Plasma, a layer 2 scaling solution, should be revisited by teams currently working on zero-knowledge Ethereum Virtual Machines (EVMs). Invented in 2017, Plasma diverts data and computation off-chain, offering potential benefits for security and scalability.

Rollups Remain the "Gold Standard"

Buterin acknowledges that rollups are currently seen as the "gold standard" in Ethereum scaling solutions. However, he believes that Plasma is an underrated design space that should not be forgotten. Buterin argues that Plasma could provide a significant security upgrade for chains that would otherwise use validiums.

Improvements in ZK-Proofs Make Plasma More Viable

Buterin points out that advancements in zero-knowledge proofs (ZK-proofs), such as validity proofs, address the past limitations of Plasma. With these improvements, Plasma becomes a more viable and efficient scaling solution. Buterin sees the emergence of ZK-EVMs as an excellent opportunity to explore and enhance the Plasma design space.

An Achilles Heel and a Diverse Ecosystem

One of the challenges Plasma faced in the past was its limited application beyond payments. However, with the integration of ZK-proofs, Plasma can potentially be adapted for various use cases. Buterin expects the Ethereum layer 2 ecosystem to evolve with diverse technological approaches.

OMG Network Token Spikes Following Buterin's Remarks

After Buterin's Twitter post, the token of OMG Network, which uses Plasma, experienced a 28.6% spike in just three hours. However, its price has since fallen 14.3%. This demonstrates the market's reaction to Buterin's comments, highlighting the ongoing interest in scaling solutions for Ethereum.