Your daily distillation of crypto news for Tuesday, March 26, 2019:
Claps for Plapps
Several weeks ago, the Plasma Group announced it had built a general-purpose Plasma design to allow developers to create "plapps," short for Plasma apps. Following up on this initial announcement, the team took to Medium yesterday, March 25, to provide further details regarding how the architecture works under the hood.
At a high level, the design is built around state objects comprised of (1) predicate addresses (which represent external contracts) to control these objects and (2) parameters to describe them. Each object has an ID assigned sequentially based on Plasma chain deposits. Plasma blocks serve as collections of updates to define new state objects with certain IDs.
Predicates implement a standard contract interface, through which the contract validates the design's state updates. The Plasma Group has introduced the concept of state deprecation to prevent operators from "sneak[ing] in" invalid updates.
Although it's still early days for Plasma, the team believes that predicate design "presents a rich new area of research." Some possible predicates the Plasma Group envisions include state channels and nested Plasma contracts, among other examples.
An Ethereum community member yesterday posted the code for an address-listing tool they had created. The tool, known as "makeAddrList," allows users to compile a list containing all the addresses of ERC20 token holders within a specified contract. A sorted "addrListFile" is produced with duplicate entries removed.
More details about the tool can be found on its GitHub repository.
A Rainbow of Assets
A white paper draft for the Rainbow Network – a proposed off-chain, non-custodial exchange and payment network design – was published earlier this month. The network would reportedly allow users to "trade, lend, borrow, send, and receive" liquid assets off chain "while having only one on-chain payment channel collateralized by a single asset." Rather than only being able to hold the asset used to collateralize their payment channel on the network, a participant would, according to the paper, be able to hold "synthetic balances" of any digital asset. These channels would be Rainbow channels (which, in a sense, reflects the myriad assets represented on the network).
Users would be able to implement Rainbow channels on Turing-equivalent blockchain platforms such as Ethereum. Under this Rainbow channel framework, all transacting parties would agree to a price oracle. A second type of channel without a price oracle would also be available, though it could only be implemented via bidirectional payment channels (like the Bitcoin Lightning Network).