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.