Hydro Blocktoberfest: Plasma Integration For dApp Store & Tide!
Plasma is a Layer-2 framework proposed by Joseph Poon and Vitalik Buterin in 2017 to offer Scalable Autonomous Smart Contracts — in plain English, Plasma is a proposed technology to make Ethereum transactions faster and able to occur more frequently.
Here was the original Plasma whitepaper:
Hydro and Plasma
There are some companies, such as OmiseGo, that are working diligently to make Plasma transactions a reality. How does this relate to Hydrogen and the Hydro ecosystem? Put simply, if we are to have millions of users interacting with thousands of decentralized applications (dApps), there needs to be proper plumbing in place to make the user experience enjoyable. Plasma gives us this opportunity. Let’s take a look at a potential workflow for Plasma:
The workflow above is pretty simple, and is made possible because of the revolutionary Snowflake identity framework that Andy, Noah, Anurag, and the Hydro product team have built. HYDRO exits a user’s snowflake via an Ethereum transaction, transfers to a Plasma channel through which multiple transfers can occur (similar to opening an account), and when the user wants to ‘exit’ or close the account, another transaction occurs.
This workflow will allow users of the Hydro app to interact with dApps that are in the Hydro dApp store, with near instant payments and subscriptions. We will have some more exciting product sneak peaks during Hydro Blocktoberfest that take this to an even higher level.
How cool is that?! We would like to have an early test implementation of Plasma, through a partner, integrated into the Hydro ecosystem for the launch of the Hydro dApp store by the end of the 1st Quarter of 2019. At launch, this will make Hydro the most scalable public blockchain ecosystem for financial services in the world.