Ethereum’s rollups are ‘gold standard’ but Plasma needs a revisit — Buterin
Vitalik Buterin has expressed that the initial Ethereum scaling solution, Plasma, is "underrated" and represents a "significant security upgrade" for chains that would otherwise function as validiums.
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Vitalik Buterin, the co-founder of Ethereum, has suggested that teams currently focused on developing zero-knowledge (ZK) Ethereum Virtual Machines (EVMs) should revisit Plasma, an early Ethereum layer-2 scaling solution. Initially introduced in 2017, Plasma directs data and computation off-chain, excluding deposits, withdrawals, and Merkle roots. While optimistic and ZK-rollups have surpassed Plasma due to offering lower client-side data storage costs and unmatched security properties, Buterin noted in a Nov. 14 Twitter post that Plasma is an "underrated design space" that should not be overlooked. He emphasized that Plasma can serve as a significant security upgrade for chains that might otherwise function as validiums.
Buterin acknowledged that ZK-EVMs are becoming a reality this year, creating an excellent opportunity to re-explore the design space of Plasma and develop more effective constructions to simplify the developer experience and safeguard users' funds. Validiums, similar to Plasma, move data and computation off-chain but utilize ZK-proofs for transaction validation. While Plasma uses slower fraud proofs, Buterin argued that improvements in ZK-proofs, including validity proofs, address past limitations, making Plasma a more viable scaling solution. He anticipates the Ethereum layer-2 ecosystem evolving with diverse technological approaches, highlighting that exploring Plasma's potential can contribute to the broader landscape.
Plasma has undergone various iterations, such as Minimal Viable Plasma, Plasma Cash, and Plasma Cashflow. Despite some limitations, Buterin suggested that adapting Plasma for applications beyond payments has become more feasible with advancements in ZK-proofs. He emphasized the need for continued exploration and experimentation within the Ethereum layer-2 scaling space. OMG Network's token, OMG, which utilizes Plasma, experienced a 28.6% spike to $0.78 within a three-hour window following Buterin's post, according to CoinGecko. However, it subsequently fell by 14.3% to $0.67.
