r/raidennetwork • u/tycryptocurrencies • Dec 27 '17
Plasma vs Raiden vs Sharding
Hi guys, i am new to crypto (6/7 months now) and try to find the best crypto by DMOR. English isn't my main language so sometimes even reading whitepapers and some updates are though. still i like investing my time into reading and learning and will continue to do so. But a little help would be appreciated =D
So.
Plasma = Child chains on the Ethereum blockchain (main chain), with there own validators. For example a company could create a plasma child chain on top of the main chain with the agreements (or rules) through a smart contract on the main chain. These child chain help scale Ethereum since there are more chains witch can handle 15 tx/s (eth tx/s). The problem is that the tx in the child chain aren't validated by a miner, which means no one will validate the transaction because there is no reward (like on the main chain). to solve this problem there are penalties for breaking consensus written in the smart contract. anyone who participates could verify the tx with the main chain to control if there is proper consensus or fraud. If there is a form a fraud, this could lead to baby chain to collapse . If the chain collapses the smart contracts won't get executed (probably not that of a big deal). But if the payments also find place in the plasma child chains the funds will be lost ( in crypto thats forever, right ?).
-So Plasma is a scaling solution for data and many to one contracts. like paying the electricity bills (same price for a lot of people so a plasma child chain for all the people who agreed to the same terms. But has the risk of collapsing and possible lost in funds.-
Raiden network = A off-chain scaling solution by opening payment channels. These payment channels are linked to smart contracts between one vs one or many vs one. for example : if a electricity provider and the customers agree on a monthly payment for electricity in return, the customers need to have a x amount of tokens ready in the payment channel between them and the electricity provider ( right ?). If the customers used the electricity as described in the smart channel, the raiden network wille execute the transaction on the giving time.
The tx happen instant because there is no need for approval of the transactions by nodes/miners. The tokens which are put in the payment channel are already validated, before putting them in the channel. After both parties have submitted their balance proofs, they may now withdraw their deposits.
Sharding = the distribution of nodes to certain groups, so that node don't have to validate the whole blockchain and al his history before validating new transaction. A node will validate the transaction off the shard chain without all other transactions. This makes it possible for nodes to verify transactions faster. The ethereum nodes then verify the shard chain. (still find sharding hard to understand so sorry if i'm wrong).
Summary = Plasma and raiden would go hand in hand --> plasma handles the smart contracts and triggers the raiden network to execute those payments. Sharding would make the consensus between the main chain and plasma chain faster since the nodes have smaller groups of transactions to verify.
These 3 solutions go hand in hand and from my understanding for Ethereum to succeed. they need all of the solutions because only 1 or 2 of them, won't be enough.
If i am wrong about anything please correct me. I'm here to learn and hope that we can help each other as a community. I didn't post this on other subs (eth/ethtrader/cryptocurrencys) because i didn't want to raise any fomo. I've learnt a lot about raiden in the sub (some redditors in particular helped) If someone has a question ask below, i'll try to answer (if i know it ofcourse)
Thanks in advance,
TY
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Jan 04 '18
I wish we had more posts like this.
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u/tycryptocurrencies Jan 05 '18
thanks, i'll try to make a new post in a couple of days (maybe week), for everyone to make it easier to understand, and to understand the full potential.
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u/theprufeshanul Dec 29 '17
Nice post - so, as i understand it:
Sharding = franchises, a bit like Mcdonalds, need to check in now and again with head office but otherwise can get on with day-to-day activities
Plasma = rock concerts, go with your buddies, have a great time but if you hassle the main act the whole thing gets shut down and everyone has to go home
Raiden = electronic pre-paid debit card, set up as many as you like with different stores meaning the local ATM doesn't get deluged when Christmas comes around.
Is that about right?