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Millions of TPS were promised by Plasma. The operator then switched off the lights.
Essentially, what is the most painful aspect of blockchain technology? It occurs when you want everything to be quick, affordable, and safe, but you are only able to select two of the three. And everyone has been pounding their heads against this trilemma's wall for the past ten years or so.
The emergence of plasma was specifically an attempt to overcome this impasse. The concept is stunning: we take Ethereum (or any other "heavy" chain), build a number of little "child" chains that exist independently, handle millions of transactions there, and only periodically send some hash or proof back to the main chain to demonstrate that everything is working as it should. Thousands, if not millions, of transactions per second, negligible costs, and Ethereum's apparent lack of security made it sound like a dream.
The difficulty, though, is that the more I examine Plasma implementations, the more I realize that we have simply shifted the long-standing centralization issue to a different area. Because who is in charge of these child chains? typically just one operator. or a small group. This individual (or business) also determines when to "slow down a bit," when to broadcast the merkle root on Ethereum, and which transactions to accept or reject. Additionally, users will either have to wait or migrate to the main chain if the operator abruptly disappears, shuts down the server, or begins censoring. Additionally, a mass escape is always a lottery: someone just doesn't make it, gas shoots into space, and the exit line lengthens. Decentralization is thus formally present. Everyone is free to challenge and leave. However, in reality, you are already in the risk zone if you are not always sitting and keeping an eye on every block in the child chain. That is not how most people live. They don't care about the exit game; they just want to use tokens to pay for their coffee. This is how this subtle, undetectable centralization takes place. "We are now centralized!" is not being yelled. Nobody presents it in a white paper. Power is transferred to individuals in possession of the child chain server keys progressively, step by step. After that, to another one. And to five more. Additionally, there are already a number of sizable "child" networks under the authority of well-known individuals and financial institutions. When compared to rollups, the distinction is evident right away. Data (or at least proofs) are sent straight to L1 in Optimistic Rollup or ZK-rollup. The operator has the ability to filter, but it cannot be concealed. The most important aspect is that the user does not need to search for exit proofs. The system is more "fair" in that it is more harder to conceal problems. In this sense, Plasma plays a risky game: "trust the operator, and if anything — you will have to claw your money back during the challenge period." Many just can't get it back. They're not going to survive. They won't understand how. They'll give up.I'm not claiming that Plasma is bad. It was one of the most fascinating experiments conducted in 2017 and 2018. Some of its concepts can still be found in contemporary hybrid buildings. However, something tightens inside of me each time I see another project declare with pride that "we are on Plasma." Because it typically indicates that "we are very fast and very cheap... until the operator decides otherwise." Perhaps we simply haven't figured out how to scale without making these kinds of concessions. Perhaps this path is already in the vicinity. For the time being, however, Plasma serves as an excellent illustration of how solutions "to reduce the load" gradually, subtly, but unmistakably alter the rules of the game regarding who actually has power in the ecosystem. We don't even realize this until it's too late, which makes it perhaps the scariest thing.@Plasma #Plasma $XPL {spot}(XPLUSDT)
🧧🧧🧧🎁🎁🎁 #红包大派送 What’s up, crew! Shoutout to every single one of you for the support 🙏 10K followers challenge: LFG 🔥 Hit me up with a tag👉 Bestow鱼 for follow-for-follow & like-for-like Real ones only, no sneaky unfollows! Let’s grind together~ $BNB
#HK Everyone come to receive 2 ETH red envelope 🧧! Daily fixed investment #MUA on the 17th day, Continuing for a year, let's all join in Expected annualized return rate of about 500% The logic of the rise of Myth MUA 📈 Answer: Flexible support mechanism
{spot}(BNBUSDT) #特朗普取消对欧关税威胁 Myth #MUA is a DeFi project issued on the Binance chain
What is DeFi? In Chinese, it is called decentralized finance
What DeFi ultimately needs is liquidity pools, because the coins in everyone's hands need to be converted to cash, so they have to be exchanged in the liquidity pools
Therefore, the liquidity capability of the pool is the most important. If a DeFi project's liquidity capability is insufficient, then your assets are just a relatively good-looking number and cannot truly be converted to cash.
神话MUA多池子结构玩法+机制模式币圈绝对找不到第二个像神话这样的多池子结构提供流动性的大金狗 BTC🧧🧧🧧👇👇👇 #FIL See the data shown in the image, Myth currently has over 50 pools providing liquidity, which is the true perpetual motion machine model.
🧨Latest updates on FIL: Technological explosion + Deflation landing, 2026 will be the key year for value realization.
⚙️Core technologies fully upgraded. ✅The F3 protocol mainnet is live, transaction confirmation reduced to 2 minutes, efficiency improved by 450 times; PDP hot storage commercially available, breaking the limitations of cold storage, achieving full-chain service for storage, computation, and retrieval. ✅The IPC interstellar consensus mainnet will be launched in 2026, with cross-subnet parallel execution solving the expansion problem, over 1200 contracts deployed in the FEVM ecosystem, and TVL reaching 4.5 million FIL. ✅Filecoin on-chain cloud (FOC) officially commercialized, compatible with S3 interface, seamlessly connecting with Web2 enterprise migration, saving storage costs by 20%-30%.
📈Deflationary model strongly established. ▫️In October 2026, the daily production of FIL will be halved, with the annual inflation rate plummeting from 18% to 7%, significantly shrinking the supply side. ▫️In the past 7 days, an average of 9872 FIL has been burned daily, a month-on-month increase of 23%, with marginal deflationary effects emerging and the supply-demand relationship reshaped.
🌐Ecological applications fully explode. ✅AI storage essential needs realized: Collaborating with platforms like AethirCloud, becoming the preferred storage infrastructure for 1ZB level AI training data, by 2025 the network storage capacity will exceed 4EB, an increase of 85% year-on-year. ✅Enterprise-level case realization: Mayo Clinic genomic data and Tesla Shanghai factory equipment data have been completed on-chain, with query efficiency improved by 15 times and equipment downtime reduced by 30%. ✅Cross-chain ecological integration: Launched a cross-chain data bridge with Avalanche, connecting the EVM ecosystem, building a modular cross-chain infrastructure.
🏦Institutional funds accelerating entry. ▫️Grayscale Fund increased its holdings by 300,000 FIL in the past month, with total holdings reaching 1.5 million pieces, accounting for 17% of decentralized AI fund assets. ▫️Large wallets continue to increase holdings, ecological financing activities are frequent, DeFi cooperation upgrades boost liquidity mining returns, and user participation surges. Viewpoint: FIL has upgraded from a decentralized storage network to a programmable data infrastructure, with the formation of a technological closed loop + the initiation of a deflationary cycle + the explosion of AI/enterprise-level demand creating a triple resonance. 2026 will be a key year for the transformation of technological value into market value, highlighting long-term value positioning.
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