BitShares Forum
Main => General Discussion => Topic started by: Helikopterben on November 03, 2015, 08:44:30 pm
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BM hinted at a new project called plasma in the last mumble which would allow Interoperability between chains. He had previously indicated that atomic cross chain transfers were really not feasible. Have they found a way to do it? Reading between the lines, this could potentially allow for users to deposit assets such as bitcoin directly on chain, backed 1:1 by real bitcoin on the bitcoin blockchain. If this is the case, then the implications could be huge. It can eliminate pain points for the user while retaining all the security of a provably solvent, consensus driven, decentralized exchange. Right now if a user wants to deposit btc, then they have to hope that another user is willing to short that btc into existence near market price and if they want to redeem btc, then they have to hope that someone is willing to buy existing bitbtc near market price. With plasma, the user can deposit btc backed by actual on-chain btc instead of btc collateralized by bts, eliminating the worry about margin maintenance and liquidity. This would allow a much more seamless user trading experience, at least among various blockchain assets. In other words, users would be able to trade pairs such as btc/eth while knowing that the assets are completely accounted for on the native chains.
Of course this would be impossible for assets such as fiat currencies and physical commodities such as gold, silver, and oil. The MPA markets are the best solution for trading these assets.
The foundation for the DEX has been built with DPOS. With plasma, barriers to adoption because of liquidity can be greatly reduced. We will have to wait and see exactly what plasma will do, but so far it looks to me like it could be a game-changer to help bootstrap the DEX.
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All we can do is hope graphene is still relevant by that time.
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It's easy when its all graphene. He only said cross-chain transactions.. he never said 'all chains'. This essentially would mean that things like BitShares, Muse etc would be able to cross over in transactions. Which makes total sense as an evolution of the product line.
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Its simply another Dan makes a obtuse theoretical assumption that never stands up to rigor when fully implemented.
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Its simply another Dan makes a obtuse theoretical assumption that never stands up to rigor when fully implemented.
I understand your worrier.
There is no reason to do that, and there are too many unfirmed problem to find out. It is just another asumption, and seems to fail and waist money and time.
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Its simply another Dan makes a obtuse theoretical assumption that never stands up to rigor when fully implemented.
so smartcoins do not exist?
As good as not existing. It barely works and everyone prefers to issue their own coin instead.
Compare to nubits and you will see that smartcoins are a failure.
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All we can do is hope graphene is still relevant by that time.
Plasma OS will NOT REPLACE graphene .. it will EXTEND it.
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Its simply another Dan makes a obtuse theoretical assumption that never stands up to rigor when fully implemented.
so smartcoins do not exist?
As good as not existing. It barely works and everyone prefers to issue their own coin instead.
Compare to nubits and you will see that smartcoins are a failure.
I dont aee the failure, sorry for that. Comparing nubits with smartcoins males no sense either. Start reading into the technology and you will unterstand it.
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Its simply another Dan makes a obtuse theoretical assumption that never stands up to rigor when fully implemented.
While I've been critical at times myself, I've never had an issue with Dans theoretical assumptions. Almost everything being done in this space is uncharted territory and needs theoretical assumptions with the ability to test those assumptions and pivot when necessary. Dan has been pretty good at both those things.
Theory got us DPOS.
Theory got us market pegged assets.
Theory got us a referral program.
Dans only weakness so far has been practical application (constantly going against the grain) and shooting too high instead of focusing on low hanging fruit. His comments as of late have been encouraging though. His focus is on one thing. He'll be modelling what's already been proven to work. He seems to have an appreciation for user psychology that he hadn't previously. To me, those are all very encouraging signs.
If atomic cross chain trading is possible, that's a HUGE deal. I would be interested to hear more about this "PlasmaOS".
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(Dan's) focus is on one thing. He'll be modelling what's already been proven to work. He seems to have an appreciation for user psychology that he hadn't previously. To me, those are all very encouraging signs.
+5%
If atomic cross chain trading is possible, that's a HUGE deal. I would be interested to hear more about this "PlasmaOS".
+5% +5%
So would the entire world's crypto-space Developer community.
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Plasma is a longer term play, don't expect to see much on it this year. Too many other things to do.
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Is not ripple's interledger going to solve the same problem?
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Plasma is a longer term play, don't expect to see much on it this year. Too many other things to do.
Can we know which things you mean?(which have priority?).... a road-map maybe?
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Is not ripple's interledger going to solve the same problem?
Not the same way. Our approach is more fundamental than Interledger. In other words, Interledger could be built on top of Plasma.
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Is not ripple's interledger going to solve the same problem?
Not the same way. Our approach is more fundamental than Interledger. In other words, Interledger could be built on top of Plasma.
I am very intrigued. Are you going to cooperate with ripple team?
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Plasma is a longer term play, don't expect to see much on it this year. Too many other things to do.
Can we know which things you mean?(which have priority?).... a road-map maybe?
Good point. Does CNX keep an on-going Devs to-do list somewhere, like on google sheets that we can monitor?
This would lower everyone's stress level a bit, watch the progress in real-time (most Investors are not githubbers), know what features are coming next, allow us to time our features and announcements, etc.
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Is not ripple's interledger going to solve the same problem?
Not the same way. Our approach is more fundamental than Interledger. In other words, Interledger could be built on top of Plasma.
Eventually someone will have something like this working.
How will cryptocoins that are not on the ethereum blockchain (BTC, LTC, etc) work on EtherEx?
The first version of Ethereum will not be able to store off chain cryptocoins in contracts. Therefore, we are tasked in the short term with finding a way to incorporate these into our trading engine while also sticking to our core principals of openness and decentralization. We are exploring many options and think a combination of resources currently available to the public (such as multisig wallets) will give us the ability to make this happen efficiently. Once a future version of Ethereum fully supports off chain cryptos, this will be a much easier task.
https://etherex.org/faq (https://etherex.org/faq)
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Plasma is a longer term play, don't expect to see much on it this year. Too many other things to do.
Can we know which things you mean?(which have priority?).... a road-map maybe?
Good point. Does CNX keep an on-going Devs to-do list somewhere, like on google sheets that we can monitor?
This would lower everyone's stress level a bit, watch the progress in real-time (most Investors are not githubbers), know what features are coming next, allow us to time our features and announcements, etc.
Yes, road map, backlog, trello board, anything would help and will also help to get people to collaborate.
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Could Plasma be a scripting language that ties directly into BTS? :o
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Could Plasma be a scripting language that ties directly into BTS? :o
May be ... may be not .. maybe its a totally new and distinct approach .. who knows ..
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Plasma is a longer term play, don't expect to see much on it this year. Too many other things to do.
Can we know which things you mean?(which have priority?).... a road-map maybe?
Good point. Does CNX keep an on-going Devs to-do list somewhere, like on google sheets that we can monitor?
This would lower everyone's stress level a bit, watch the progress in real-time (most Investors are not githubbers), know what features are coming next, allow us to time our features and announcements, etc.
I think a road map list would change as the BTS community votes on what we want, and as people walk through their doors with money.
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Is not ripple's interledger going to solve the same problem?
Not the same way. Our approach is more fundamental than Interledger. In other words, Interledger could be built on top of Plasma.
I am very intrigued. Are you going to cooperate with ripple team?
I agree; I am very intrigued as well.
So you can build Interledger on top of you solution Plasma? Are your developers going to do this?
What is planed regarding a connection to Gateways on RippleTrade with OpenLedger and vice-versa?
All I've read [heard] is about the way BitShares 2.0 is connected to Ripple & PayPal yet only vague details have barley been released of it... yesterday in the "Ripple Gateway?" Forum I started:
- https://bitsharestalk.org/index.php?topic=20058.msg257746#msg257746
I would love to look into Plasma; any recommended links where I can learn more to understand how Interledger [ILP] fits on top of Plasma?
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https://www.pscp.tv/w/1YpJknevAnEGj
From the original Plasma announcement and the Q&A @ 24:30 - me thinks that Dan's original idea (and possibly current) is that Bitshares and Steem are best run as their own EOS chain, since they are naturally segregated by their function.
I don't see any reason that <40 sec transactions are needed between your stock/currency portfolio and your social media change wallet.
Any other thoughts?
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All we can do is hope graphene is still relevant by that time.
All we can do is hope graphene is still relevant by that time.
Plasma OS will NOT REPLACE graphene .. it will EXTEND it.
Is plasma EOS?
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Is plasma EOS?
Hodor?
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All we can do is hope graphene is still relevant by that time.
All we can do is hope graphene is still relevant by that time.
Plasma OS will NOT REPLACE graphene .. it will EXTEND it.
Is plasma EOS?
Take Plasma.
Let Bytemaster sleep on it for two years...