About Plasm Project

Plasm - scalable blockchain framework on Polkadot.

This slide was presented by Node Tokyo 2019.
(https://nodetokyo.jp/schedule/)

Transcript

1. Scalable Blockchain Framework on Polkadot
2. 2 2 Plasma on Polkadot Plasm is a potential parachain.
3. 3 3 Contents I talk about the contents in the Plasm white paper. You can learn it from here. https://github.com/stakedtechnologies/plasmdocs/blob/master/wp/en.pdf
4. 4 4 Layer1 is Almost Full “Ethereum and Bitcoin are almost full. But, we believe blockchain will be used in a different way from the way we use today. The 1st layer will be used as a trust layer and the 2nd layer will be a transaction layer. That’s why we are working on Plasma” Sota Watanabe, CEO of Stake Technologies Bitcoin and Ethereum are almost full. We need a different way to use blockchains. Stake Technologies All Right Reserved
5. 5 5 We Have Some Scaling Solutions... segwit state channel sharding plasma Layer1 solutions Layer2 solutions segwit : https://github.com/bitcoin/bips/blob/master/bip-0141.mediawiki sharding: https://www.bubifans.com/ueditor/php/upload/file/20181015/1539597837236127.pdf state channel: https://l4.ventures/papers/statechannels.pdf plasma: https://plasma.io/plasma.pdf
6. 6 6 Why We Use Plasma? 1,700 tps 256,000 tps 14 tps Many transactions can be handled in a centralized way, so Plasma is most scalable solution. Plasma does not depend on the performances of a main chain. Plasm can become.
7. 7 7 Problem 1. There is a limitation on what can be done with Plasma Applications. a. Claims logic must be described in first order predicate logic. This called predicate. 2. Plasma is the complicated technical stack that consists of several components. a. Parent chain contract b. Client library c. Child chain operator d. User wallet Plasma application overview.(refer to Plasma Group.) https://docs.plasma.group/projects/spec/en/latest/src/05-client-architecture/introduction.html
8. 8 8 Provide a Scalable Solutions For All Blockchain Developers.
9. 9 9 Plasm Libraries • The first Rust implementation of Plasma Contracts by ink!. • Simple but versatile architectures and makes it easier for developers to make a Plasma chain with Substrate. • Will Support OVM(Optimistic Virtual Machine), a archtecture designed to support all layer 2 (L2) protocols. Already published Plasm demo ① ② ③ ④ ink! : https://github.com/paritytech/ink/wiki ovm: https://medium.com/cryptoeconomics-lab/a-gentle-guide-to-the-ovm-934035646942 Plasm v0.2.0 demo: https://medium.com/staked-technologies/lets-make-a-plasma-chain-with-plasm-and-substrate-39cbd868022d https://github.com/stakedtechnologies/plasm
10. 10 10 Plasm chain The default root chain for application developers to connect. Plasm Chain has the following special features. • Multi-Lockdrop. It is a fair and low-risk valuable token issuing system. • Plasm block rewards. It gives application developers a sustainable incentive. • Operator trading. It is possible for plasm application developers to buy and sell operator’s authorities like M & A.
11. 11 11 Lockdrop 1. Ethereum token holders are able to lock their ETH on a LockContract for their selected duration. (e.g. 3 months) The longer the time lock is, the more Plasm tokens they get. 2. Plasm tokens are distributed on the genesis block to the participants who locked their ETH. A participant gets Locked ETH × Locked duration × α Plasm tokens. 3. The genesis block of Plasm chain distributes 10% (The total amount of distributed tokens × 1/9) Plasm tokens to the Plasm team. 4. After the selected locked time, the locker receives exactly the same number of ETH. Lockdrop : https://blog.edgewa.re/full-details-on-the-edgeware-lockdrop If you lock ETH for a certain period of time, you will get Plasm tokens!!
12. 12 12 Multi-lockdrop • i = {1, 2, 3} : The round of a lockdrop. • M : Amount of issued tokens by first lockdrop. • α(i) : α in the rate i, α(i) > α(i+1). • β(i) : β in the rate i, β(i) > β(i+1), α_i/β_i = const • n(i) : The number of participants in the round i. • j : j-th participant. • LockedETH (i, j) : j 's locked ETH in the round i. • LockedTime (i, j) : j 's locked duration in the round i. Amount of token by i-th lockrop. Total Amount of token after finished multi-lockdrop. Amount of issued tokens by first lockdrop
13. 13 13 Multi-lockdrop Example, β = {6,5,4} 1st lockdrop 2nd lockdrop 3rd lockdrop 1ETH×6months Lock PlasmChain (Genesis) 7200PLM (α_1 = 1200) 1ETH×6months PlasmChain 1ETH×6months PlasmChain 6000PLM (α_2 = 1000) 4800PLM (α_3 = 800) Lock Lock
14. 14 14 The Benefits of Multi-lockdrop? • No ICO. We DON'T keep your assets. Users don’t need to worry about scams. • The participants get Plasm tokens by collateralizing the opportunity cost of ETH (or DOT). So, after the locking duration, ETH (or DOT) will be returned to the original holder. Users can issue tokens with very low risks. • All the participant have to do is just sending ETH (or DOT) to a lockdrop contract and receiving PLM. All users have a chance. • Multi-lockdrop prevents huge first-mover benefits and makes token distribution fair. All users can get tokens relatively fairly. • It helps the chain decentralize safely. Plasm Chain will be a decentralized public chain.
15. 15 15 Plasm Block Rewards 50% of the block reward on the Plasm chain is distributed to DApps developers who increase the value of the network. If you develop great dapps for the chain, you can get block rewards!! Nominator_{i,j} get rewards. Operator_i get rewards.
16. 16 16 Malicious/Bad Cases... Malicious sock puppet scam app deploy Scam app operator nominate Evil nominator Rewards A counter measure or Good Bad Good / 2 < Bad … Lock staking tokens. Good < Bad … Stash staking tokens. to each dapps once. All account who has tokens can vote
17. 17 17 A few popular operators are staked from almost nominators. nominate A counter measure nominate Reward dividend A year later New commer operator Big hit!! Malicious/Bad Cases...
18. 18 18 Operator Trading Popular operators can get constant rewards, and operators can sell their authority to get more reward. I’m a very popular operator. I’m getting 1000PLM/block. (It seems that this app grows faster. So, I want to get the authority, now.) Hey, Please give me your app for 3,000,000,000 PLM. This value is your rewards of 3,000,000 blocks. Sounds good! ok! Get 3,000,000,000 PLM Get operator authority
19. 19 19 What if we have a tool to make a virtual server easily? And, manage it with few clicks? What if we have a tool to make a 2nd layer solution easily? And, manage it with few clicks? PlaaS is like AWS for your child chain management. Plasm as a Service (PlaaS)
20. 20 20 Check out our demo from here. Details are available from here. • Plasm is the layer1 blockchain. PlaaS is a tool to deploy & manage layer 2 child chains and applications. PlaaS PlaaS PlaaS • There are 3 steps. 1st: Choose parent chain to connect. 2nd: Customize and deploy your child chain and application. 3rd: Check the config file and manage it. You Can Manage Your Chain and Application With PlaaS
21. 21 21 Announce Stay Tuned! Plasm Chain testnet will be released on 10/7
22. 22 22 Plans for Plasm Project. 10/7 : Launch Plasm Chain testnet 0.1.0. November : Launch Plasm Chain mainnet. December : Plasm library applies for OVM. 2019 January : Launch Plasm as a Service α version. 1st Lockdrop February : 2nd Lockdrop. March : Launch Plasm as a Service β version. May : 3rd Lockdrop. @staketech @publc_sate info@stake.co.jp Feel free to reach out to @WatanabeSota