Ethereum developer meeting intro video reddit

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Essentially they are payment channels in which users transact value outside of the main chain, and only revert back to it when they want to settle the channel. State channels are particularly interesting because they allow users to send state updates, like updates to a smart contract, rather than just money. State Channels are functionally simple.

If they expect to be sending each other multiple transactions, they could conduct all of those payments off-chain and then come back to the main-chain when they stop transacting. They can then send each other as many transactions as they want as long as they store each transaction signature off-line.

When they want to close the channel, they pay one on-chain transaction fee and receive their funds. There are a number of interesting teams pushing state channel technology forward. Counterfactual is making it easy for developers to integrate state channels into their dApps, Spankchain is making it easy for their users to access scalable microtipping, and Connext is allowing every blockchain application to set up and use a state channel hub.

Plasma Plasma is a framework for the creation of child blockchains connected to Ethereum that allow for more scalable and complex usage. Child chains are anchored to the main chain through a root smart contract. This contract creates a permanent record of the state and stipulates the rules for the child chain. Users must follow the rules set out in the root contract if they want to get their assets back once they move back to the main chain.

Plasma seems a bit convoluted from first glance, but the concept is quite simple: You can create smaller blockchains of infinite complexity as long as the Ethereum network can verify that everything on those blockchains is valid. While it may seem like there are a lot of security threats, having Ethereum as an arbitration layer forces economically rational actors to behave honestly. The Ethereum community is extremely excited about Plasma and there some notable teams building out the core infrastructure.

Specifically Ethereum developers need to build a cross-shard communication mechanism that will allow smart contracts on one shard to talk to other smart contracts on different shards. While Sharding is the most technically complex solution, there are already 8 different clients being built by ecosystem developers.

For a full list of each client, check out this list. It is the first network that enabled developers to build truly unstoppable applications with global distribution from day one. But competition is coming fast, and at the end of the day, the crown jewel for dApp developers is users.

If it wants to retain the same level of decentralization, it will have to look for new ways to structure use around the main blockchain. The main caveat, this roadmap is very experimental and there is no empirical proof that it will all work as planned. Regardless of any doubt, the Ethereum community is pushing ahead and has thousands of the smartest people working on scaling. We should start to see tangible benefits in the next 3 — 6 months, primarily in transaction fees, finality, and user experience.

From there, we will start experimenting on sidechains connected to a more robust and trusted Ethereum. Once it is cheap and easy to move frictionlessly between sidechains and Ethereum, we should start to see some breakout usage. Was our Education Portal helpful?

Feel free to use the buttons below to leave positive or negative feedback on a specific article, suggest a new article, or just to leave us general feedback. Apr 5, Update on Turbo-Geth I will not be able to join the meeting again, unfortunately : Currently working on the reorg capability.

There are two parts to the reorg - database and trie. Database part is easy, because turbo-geth stores list of keys updated at each block, so it can delete them in bulk. Trie part is more complicated, because, unlike original geth, it cannot maintain multiple forks of the state at the same time. Therefore, the trie has to be rewound to the fork base before the fork can be applied.