INTMAX Introduces Plasma Next to Upgrade Ethereum with a Stateless Layer
In Brief
Following extensive academic studies, Plasma Next is now available under an open-source license, allowing developers to replicate the code and establish their own networks.
Denver, USA, February 27, 2024 – The innovative solution INTMAX, a cutting-edge Layer 2 zkRollup utilizing stateless framework, has officially launched its Plasma Next on the mainnet α (Alpha). The co-founder of INTMAX and seasoned Plasma researcher, Leona Hioki, presented the launch at the ETH Denver event. Built on the core concepts of the Plasma framework, Plasma Next scales with a predictable cost per block, regardless of user count, successfully achieving the scalability intended by the original Plasma while maintaining the security principles associated with zkRollups.
Plasma Next represents a paradigm shift This newfound scaling approach demonstrates how blockchain solutions can reach new heights of efficiency without sacrificing their decentralized nature. By harnessing techniques like bulk-token transfers and Merkle Trees, and integrating zero-knowledge proof technology for conditional payments, Plasma Next offers a system characterized by consistent state growth per block. This fresh perspective alleviates the need for users to provide ongoing liquidity or stay constantly online, thus elevating both user experience and network performance.
Leona Hioki, co-founder of INTMAX, stated, “INTMAX doesn’t just stop at theoretical frameworks; it offers practical code and a functioning network as well. The open-source nature of this project empowers anyone to fork the code to create their own network.
A standout feature of Plasma Next is its stateless design, a concept that many have found difficult to implement since it requires validators to maintain only a minimal constant-size state. Despite thorough research aimed at alleviating the storage demands on validators, a16z has concluded that achieving a fully stateless blockchain remains unfeasible. Nonetheless, Plasma Next can scale at a uniform cost per block, irrespective of user volume, suggesting a theoretical workaround to the challenges of statelessness, as highlighted by a16z. a16z researchers Stateless models delegate data management to users, rather than nodes or validators. While it may seem complicated to give users control over their own data, the majority of this will be automated and supported by encrypted backups.
The concept of Plasma emerged in 2017, envisioned by Vitalik Buterin and Joseph Poon, as a layer-2 Ethereum scaling solution intended to elevate transaction capabilities to the scale of Visa’s. Plasma networks facilitate the outsourcing of all data and computations, aside from deposits, withdrawals, and Merkle roots, to off-chain venues. This strategy paves the way for substantial scalability increases, free from the limitations of on-chain data availability.
Nonetheless, Plasma faced substantial hurdles regarding user experience and continuous online accessibility such as:
Users were required to endure a lengthy challenge period before they could withdraw funds.
- Users had to actively keep track of transactions occurring on the Plasma chain.
- Due to these issues, Plasma has since been overshadowed by Rollups. The newly introduced Plasma Next creatively merges the best aspects of both Plasma and Rollups, enhancing both security and scalability. It utilizes advanced zero-knowledge proofs (ZKPs) to guarantee that transactions are conducted with exceptional privacy and security.
Plasma Next signifies a remarkable advancement in the blockchain ecosystem, poised to transform both scalability and privacy in the digital era. By resolving the challenge of the continuous online requirement—a major barrier to widespread user acceptance—Plasma Next represents a significant breakthrough. It supports consistent state growth per block without necessitating personal liquidity contributions, thereby improving on-chain privacy and simplifying blockchain-related transactions.
INTMAX is dedicated to establishing a Stateless Ethereum Layer tailored for extensive adoption. As a pioneering Layer 2 zkRollup leveraging stateless architecture, INTMAX delivers an incredibly effective, secure, and scalable framework for a multitude of blockchain applications. This platform provides a comprehensive solution geared to empower applications and services with swift, ultra-secure, and nearly cost-free crypto transactions.
About INTMAX
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In line with the Trust Project guidelines Gregory, a digital nomad from Poland, is not just a financial analyst; he also actively contributes to a variety of online publications. With extensive experience in the finance sector, he has earned respect and acknowledgment across numerous platforms. Using his free time productively, Gregory is currently focused on penning a book that delves into cryptocurrency and blockchain.
