Vitalik Buterin: Plasma Cash will improve Ethereum structure

The founder of Ethereum, unlike the creator of Bitcoin, is open to public and can be frequently spotted at various summits talking about the technological perspectives of his creation. In the most recent case in France at a conference dedicated to digital currencies, he has described the optimization of Plasma, a structure created with the aim to improve the blockchain of Ethereum.

A special internal token called Plasma Coin will reduce the time previously occupied by the process of smart contracts verification. This new system might even prevent future losses due to the hacks of any digital currency exchange “written by a totally incompetent developer”, as noted by Mr. Buterin.

The system is still at its early stages. The main reason why Plasma Cash matters in the first place is scalability - as once noted by Vitalik Buterin, there is a graveyard of projects which claimed they have solved this issue and it’s better for Ethereum not to join them.

Another interesting tool that will improve payments with cryptocurrency has lately been mentioned in a patent filing by PayPal. The organization plans to work with special private keys which could potentially replace blockchain transactions.

Image courtesy of Diliff / Wikimedia Commons