Streamr Introduces Monoplasma, Their Ethereum Scaling Technology
- Monoplasma is a uniquely built layer 2 scaling framework, which was inspired by the Ethereum scaling solution Plasma.
- The power of Monoplasma was demonstrated on stage at the ETHDenver buidlthon on Feb. 15.
The blockchain-powered network and marketplace Streamr has introduced their new open-source Ethereum scaling technology Monoplasma at ETHDenver 2019.
Monoplasma is a uniquely built layer 2 scaling framework, which was inspired by the Ethereum scaling solution Plasma. It focuses, in particular, on the one-to-many payments, in which users normally need to “repeatedly distribute value to a large and dynamic set of ethereum addresses” the CEO of Streamr, Henri Pihkala, explained.
The power of Monoplasma was demonstrated on stage at the ETHDenver buidlthon on Feb. 15. The tool was utilised to distribute small amounts of fake “unicorn” tokens to 100,000 addresses on a test version of the Ethereum blockchain. Thanks to Monoplasma’s design, double spends can not occur on its payment channel.
According to a Medium blog post, the off-chain scaling solution was developed to service a new feature on the Streamr Marketplace called Community Products. It allows users to “push the data they create to a larger saleable product and receive automatic payment every time that product sells”.
The post further reads that Monoplasma could be re-tailored for a number of use cases, such as revenue sharing, dividends, airdrops, loyalty reward schemes, pension, and payroll. Streamr encourages Ethereum developers to try out Monoplasma, the public code repository for which can be found on GitHub.
- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.
Shutterstock
- Over the weekend the Ethereum PoW network fell victim to a replay exploit, with the attacker executing the same transaction on two chains at the same time.
- The exploit was caused by a contract vulnerability in the Omni cross-chain bridge, and did not affect the ETHW network itself.
- Ethereum’s PoS upgrade, also known as the Merge, was executed at 06:44 AM UTC on 15 September, combining the existing blockchain with the parallel Beacon Chain.
- The move has reduced Ethereum’s energy consumption by more than 99%, which is equal to 0.2% of the global electricity consumption.