Plasma Scalable Autonomous Smart Contracts
This week’s paper pick was recently published by Joseph Poon and Vitalik Buterin and introduces a framework that allows highly scalable smart contracts:
Plasma is a proposed framework for incentivized and enforced execution of smart contracts which is scalable to a significant amount of state updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide. These smart contracts are incentivized to continue operation autonomously via network transaction fees, which is ultimately reliant upon the underlying blockchain (e.g. Ethereum) to enforce transactional state transitions.
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