Plasma is project based on blockchain technology developed by Joseph Poon and Vitalik Buterin. Plasma uses child chains reporting to root chains in order to increase transaction throughput without any of the safety concerns that usually come with using smaller chains. As it is stated by the developers of the project, OMG exchange was created in anticipation of Plasma.
Plasma will be used to support a scalable, fully on-chain exchange aiming to make it entirely secure.
— OmiseGO (@omise_go) 17 January 2018
The principles of Plasma work are the following: to perform a deposit, users should move assets from a parent chain to a child chain by transferring them to the appropriate Plasma smart contract on Ethereum.
On January 17 the team of OmiseGO opened Plasma MVP on GitHub, including root chain smart contracts and building blocks for child chain, and reported implementing the Minimum Viable Plasma.
The Plasma MVP should become a step forwards towards realizing the potential of Ethereum by scaling the Ethereum mainnet, and building the OMG decentralized exchange, making it ready for mainstream financial use.
Previously, we have reported that venture capital firm Global Brain and OmiseGo platform announced the partnership and launch of investment fund.
At the moment of press, these are main market parameters of OmiseGo token:
- Average price: $19,00
- Marketcap: $1 939 237 062
- 24h volume: $111 646 000