INTRODUCTION
PLASMIUM platform will use a unique technology referred to as PLASMA; the PLASMA Chain is a newly created distributed infrastructure intent on solving scalability issues within existing blockchains through large scale rapid processing blocks. Story data and transactional information will both be processed in real time within a distributed environment. A story root will be stored in the event data to allow recording of detailed historical information with the story root structure being alike to the general transaction structure only with a more extended ability. This would include the ability to inherit certain properties.
The PLASMA Chain will use a high level of functional programming language compiled through smart contract bytecode on the PLASMIUM network. There will be two distinct layers – a core layer (AURORA) to process transactions at scale and the ARC layer which will support the smart contracts and other functions, including third party application support. The AURORA layer will have the objective to operate consistent transactions in PLASMIUM’s ecosystem, and to be used as core chain technology to facilitate information exchange. In theory the core layer will be able to process up to 200,000 transactions per second.
THE PLASMIUM
Blockchain technologies provide a way to agree and maintain consensus across every node and without any central authority. This technology has issues, however, such as not enough real time transactions and not a good ability to scale as needed. Even with consensus algorithms have been integrated in platforms which allow it, large platforms like Ethereum and Bitcoin are still synchronizing one block at a time. This creates a slow confirmation time, which is one of the primary concerns that stop blockchain technology from being applied across many different industries.
Platforms which use smart contract have began to emerge but the most widely used is still public distributed ledgers. In order to fix these issues, a new model has been developed which his based on DBN (Dynamic Bayesian Network). PLASMIUM is a new DBN based platform ran through smart contracts which will act to solve scalability issues on public distributed ledger technologies. This platform will distinguish from the competitors by employed improved DBN based pro-tools.
The PLASMIUM platform is adopting a new protocol known as the MURION PROTOCOL in order to maintain its consensus and will be later integrated into the PLASMA chain. This will allow for built up applications to be added to the PLASMA chain to enjoy instant transactions and near zero transaction costs across the board. PLASMIUM has the mission of providing compatibility across all transaction bodies globally. This will create an ecosystem to facilitate real-time transactions and low-cost data sharing.
PLASMA CHAIN
The PLASMA Chain will incorporate a consensus algorithm called the Murion Advance Algorithm (MAA) that is for the purpose of vastly improving performance through the use of DBN based, distributed ledger technologies. MAA will be a technology that guarantees a comparable level of consensus as any existing blockchain has by incorporating Byzantine Fault Tolerant (BFT) technology. This will prevent attacks occurring when a node fails and will allow for the processing up of to a half million transactions per second. Cryptographic techniques will be used in the PLASMA Chain which will enhance security as nodes communicate between one another and will use programming language which is functional for full support of smart contracts.
A Murion DBN will be formed that is based on the Murion Protocol by creating a set of links between event blocks that form a DBN. This is a distributed system for storing arbitrary data which cannot be changed. Information like transactions, stories and smart contracts will be contained in the event block, including the values of any previous event. Previous rounds of event blocks will create more verifications as event blocks on future transactions are added. The MAA will be an asynchronous technology and after two identical transactions are requested in a double spending issue, only the first transaction will be facilitated and validated. Transaction order will be arranged on the main chain list.
MAA components which will operate on AURORA and ARC layers will be structured in this way:
- Stored data in an event block will be able to contain multiples of data packages, including smart contracts, reputation management, compensation and history information.
- Signatures of users who create an Event Block will be included and users will be identifiable through account addresses.
- Hash values relating to the previous event block will be included to be able to provide links within the event blocks. Once the new event block finishes verifying all previous event blocks, any new event block will only verify the parent event block. A new block will be connected to the parent event block through a hash, with all hashes derived from the parent event blocks. This will make it impossible for any user to delete or modify any previous event block. Once the event blocks are connected another node will build another new event block on the top of the existing event block.
AURORA Table
AURORA Table is the data structure which can save the connection data from any specific event block. Data structures include the AURORA Index, which holds the index information on each layer, and connectivity which contains connection information for each layer. The AURORA event block can see most of the blocks created in the previous event block path.
AURORA blocks make up the main chain, which is intended for use as an event block validation and for the maintenance of the overall network. The Murion technology will achieve a high performance and also act to secure stored data. Event blocks can all be created asynchronously and each of these nodes will consist of a transaction set. This includes remittance, payments, story, reputation, smart contract and rewards. New event blocks are connected to a parent event block which is the last block and is for the purpose of generating blocks at high speed.
AURORA event blocks work to complete new main chains by generating information for the existing main chain connection. AURORA event block will check the validity of a specific round and all of the blocks within that round. The main chain is asynchronously completed through MAA. The subsidiary block to the parent block will not be able to link to another parent block so this allows for knowing there will be no generated blocks being modified or being deleted.
WHY PLASMIUM?
PLASMIUM’s vision is to create compatibility across all the transaction bodies globally through the implementation of a fast DBN technology which can deploy at any scale in real time. It will also make new infrastructure with a high level of reliability which can be used on large scales across any industry. This would include finance, telecommunications, electric vehicle provisions and logistics. The foundation of PLASMIUM is created alongside a smart contract ecosystem which can be used by any company in the world to facilitate regulated global transactions reliably, and with a high accuracy level. The platform will be open-source which will allow it to be used and changed across the community in order to provide support tools for the creation of decentralised applications (DApps).
Blockchain issues will be minimised through innovative software which was designed to establish digital trust across all users and to allow the transfer of value between entities over the network. This will allow a safety across the preservation and remitting of capital without having any need for using a traditional public middleman.
PLASMIUM will be built to be used in broad applications across real life and by using blockchain technology. In order for blockchain technology to be integrated across real life scenarios and have a wide applicability it has to be something transferable with low transactions fees and completely irreversible. This is a problem with existing technologies, who do not have unlimited features and work under slow confirmation times with higher than required fees.
Scalability issues are identified by comparing with existing technologies and identify what is not currently on offer, such as a high transfer ease, being irreversible and having a low to no transaction fee. Limitations experienced by existing blockchain technologies include limitations in these areas; slow confirmation times, and high transaction fees. In traditional blockchain confirmation is done by nodes verifying and storing a single block at a time. This is what creates the slow time frame, so no matter how many networks are connected to the platform, it cannot improve. In fact, more transactions mean slower processing times due to the wait they experience to get to their turn. This also creates bottlenecks.
To combat this problem, PLASMIUM will utilise a parallel approach.
Fees which occur when exchanging value, including transaction confirmation fees, fees which are paid to block miners and the mine reward itself is used to incentivise participants. It also secures the network from any DDOS or staking attach. PLASMIUM believes these fees have been prohibitively expensive to offer a thriving ecosystem.
Blockchain information is traditionally stored in blocks and it cannot gain information from external sources for the prior verification of transactions. The information that is stored in the blockchains only have a limited functionality. In order for blockchain to be applicable across all real-world scenarios, PLASMIUM offers the approach of a function which manages historical information as well as transactions inside the block.
THE PLASMIUM SOLUTION
To solve the above-mentioned problems PLASMIUM aims to create a new DBN based consensus for the creation of a new platform which improves upon DBN versatility. PLASMIUM technology will be intended for the creation of infinite processes, and the ability to process exponential and unlimited transactions in any given time period, with over several hundred thousand transactions per second possibility. PLASMA chain is intended for the purpose of operating at a high level of ability with any number of nodes transacting at the same time.
This will solve any scalability limits that existing blockchains experience and is intended to achieve a method wherein a single event block will verify the previous transaction, and all transactions will be verified and processed asynchronously without the need to be approved by prior blockchain miners. This means that the transactional load does not create delayed approvals or bottlenecks. Historical information will be managed singularly without a need for external database assistance, like the Oracle Database. Information stored in event blocks include multiple packages of data, which can include smart contracts, transactions, reputation management, rewards and historical information.
Creating a safe, fast processing, the PLASMIUM intends to make the overall infrastructure processing more reliable and transparent based on DBN and separate management of historical information.
PLASMA CHAIN STRUCTURE
PLASMA Chain will be similar to other blockchain structures which currently exist but will also carry unique characteristics. Story is added to the data structure intended to include time stamps, hash, signatures, transactions, addresses, smart contracts, index information and stories. In the PLASMA Chain event block data structure, a hash will refer to the value of the last block and a transaction is considered a value which is filled with every transaction in the list of transactions by blocks.
AURORA layer will record constantly changing, detailed information, such as distribution history information. It will refer to the event block transaction value previously stored. This will be much like transactions and inherited properties have been expanded. Duplicate storage prevention algorithms are then added. The PLASMA Chain will consist of an external owned account that is controlled by a private key and a control code contract account. An account will possess PLASMIUM and address tokens that have already been used by PLASMA Chain. Accounts which are owned externally will have addresses that can be controlled through the use of a private key and will be able to facilitate approved transactions for transaction level tokens and on to other accounts. The external accounts will be able to create further contract accounts, which will be executed by the use of a pre-programmed order through sending a specific message once time conditions have been reached. Contract accounts can call other contract accounts, but they cannot do so without being called by an external account. The smart contract functionality within the PLASMA Chain will be designed to execute automatically by accordance of a pattern that is pre-approved. It will then run after certain conditions have been reached.
PLASMA CHAIN PERFORMANCE
Through the use of the Murion Protocol algorithm the PLASMA Chain will solve the scalability issue through processing blocks quickly. Third generation blockchain technology will show an improvement on performance as compared to any prior blockchain technology implementation but the speed through which the blocks are created can still be slow. The PLASMA Chain, on the other hand, will solve this problem through ensuring a high creating and processing performance reaching 200,000 transactions per second.
PLASMIUM will avail of the highest levels of scalability and reliability by working on a third generation blockchain technology that will be used on a large scale and across many industries and domains. The PLASMA Chain will process large transaction numbers per second at scale and will also historical data which will guarantee the transaction reliability. The PLASMA Chain that will be based upon the Murion Protocol algorithm of PLASMIUM, is for the intention of performing a multiple of simultaneous verifications whilst conducting tests on the directions and validate the transactions at the same time. Each node will be able to process all transactions which are broadcast to the PLASMIUM network and will offer the highest transactions processing speeds available.
Previously, participants would need to verify each block in a sequential manner, but the Murion Protocol algorithm has been asynchronously designed to process and verify blocks in a concurrent, distributed method. Each event block size process through the MAA will be intended for the expansion of up to 50KB. PLASMIUM believes this will be enough, due to the quickness of block propagation. For example, if we assume that each transaction is 130 Bytes, a single event block will include up to 220 transactions. If the time it takes each to create an even block is 0.5 seconds, each node can create between 1 and 2 event blocks each second. Each time the event block numbers reached two thirds of the entire participating nodes, the Murion protocol then adds and verifies another main chain. If 100 nodes are available, then around 100-200 different event blocks should be able to reach fruition each second and verified at the exact same time. If each stage runs 500- 1000 event blocks there will be a performance which is above 200,000 TPS. Network latency could act to reduce the TPS.
PLASMA Chain will have a dual layer: AURORA core layer to process event blocks with payment, reservation, commerce, reputation and delivery data. The AURORA core layer will also be where the core chain technologies are located in order to ensure reliable transactions within the ecosystem as well as the exchange of information.
The PLASMA Chain infrastructure will be the primary core of the PLASMIUM ecosystem, which will act to collect and sell blockchain data through a distributed ledger environment and will provide a higher level of functionality as compared to other blockchains.
Information on smart contracts, transactions will be stored in the ARC layer which will arise through different applications in areas including payments, deliveries, reservations, reputation and commerce. It will also include the operating data outcome of previous and current event blocks at a computation layer, this will include the data which indicates value placed on the last block and will be individually mapped and stored within the control layer.
A main chain of event blocks will occur in every application created as well as in the event block index directly connected to the main chain, and the event block index that are connected and stored indirectly. Smooth and reliable transfers will be assured through the infrastructure layer of data, between the entities outside the physical network, providing a procedural and functional means of to transfer event block data and to find and fix errors. To be able to verify data which identifies or transfers physical equipment will not be faked, it will provide an ability to fix errors.
This will modify after checking and finding errors through grouping and transferral of event block data into frames, which will then recalculate and compare the check sum of every frame. It will also perform a flow control to prevent any frame loss through verifying and regulation of data transfer speed including an error control task for the processing of errors. This will be accomplished by checking if all the frames were delivered in the correct order to their destinations and will manage any potential collision occurrence.
PLASMIUM would guarantee certain platform services where applications were run by an existing platform, such as conversion to a commission free network during maintaining the strengths of the PLASMA Chain ecosystem. The AURORA layer will control the ARC layer and map the processed results. It also evaluates if certain operations for given transactions were accurately recorded and reliable, including within any given transaction story, smart contract, reputation management or reward. It will also verify the operations that were performed and map each event block data.
Other AURORA layer functions include the assignment and mediation of the transfer route for all data between network systems which control flow and error. It will provide a congestion control function which arises upon data transfers and the ability to establish, maintain and terminate network connections on data lines between systems and super system communications. Event block data will be divided across packets which are reunited once transferred. To determine the best data communication route, an algorithm is used to route the assigned logical address and packets will be delivered.
ARC layer will operate the transactional running, smart contracts, data from applications, and AURORA layer will analyse the traffic which comes in to the ARC layer and classify the type of service it is. AURORA layer will then use the TCP/UDP protocol and communicate with the ARC layer. This will send and receive various data, including the smart contract, transaction, history data and reward data. It will also include the assignment of a logical address through a routing algorithm, delivering packets from the sender to the receiver node and reward data in the event block. An impartial operational processing will be assured through the provision of multiple communications which distinguish trustable transfers from non-trustable transfers. It will act to optimise the network overall and provide scalability in the system.
Plasmium Timeline
- NOVEMBER 2017: Blockchain scalability research
- JANUARY 2018: Protocol validation
- FEBRUARY 2018: Whitepaper release
- APRIL 2018: Privat sale
- AUGUST 2018: Airdrop
- SEPTEMBER 2018: Pubic sale
- JANUARY2019: Testnet v 0.1
- MAY 2019: Testnet v 0.1 with smart contract support
- AUGUST 2019: Mainnet launch
- NOVEMBER 2019: Platform expansion
- JANUARY 2020: Plasmium foundation establishment
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Author: Adut.J
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