The technological fun of CryptoKitties turned into an attack for the Ethereum network. But it seems that salvation has already been found.
Lovely crypto-pupils aroused such stormy love and popularity among the broadcasters that all this turned into a big problem: gaming transactions began to occupy 20% of the total volume in the network, which significantly reduced the speed of all operations, and sometimes it was impossible to hold them. Similar problems alerted some corporate users and gave them a reason to think about moving to other blockrooms.
Developers puzzled over how to “unload” the network, increase the speed of transactions and not overpay for gas. And now – the creator of the first Plasma Like protocol – Fintech-company BANKEX tested its protocol in the network Rinkeby. The team managed to get impressive results: the network speed reached 5000 transactions per second (which is 250 times greater than that of Ethereum) at zero cost. As the company representatives say, the working version of the protocol will allow to accelerate up to 100,000 transactions per second!
In the development of the concept of “Plasma-like” protocol, “Father Ethereum” Vitalik Buterin and Joseph Pohn participated. They pondered the idea in August 2017, but only now it began to be realized. The efforts of BANKEX developers have already been noted by Vitalik Buterin.
The essence of the new development is that users will be able to transfer funds from the network Ethereum to the subsidiary network BANKEX, which will open access to fast transactions. The company is responsible for supporting a special contract, which allows holders of funds to transfer their assets back to Ethereum at any time.
Even if users of Ethereum network will soon play enough in crypto-kittens, and they are bored with it (as it happened with Pokemon in its time), to provide better system capacity – the sacred debt of the project and the next stage of evolution. Therefore, projects like Plasma Like Protocol are especially important.