The overwhelming popularity of cryptokitties has turned into an unexpected problem. Many operations in the game (20% of the total volume on the Ethereum network) have significantly reduced the speed of transactions, sometimes even making them downright impossible. While this may sound funny, the situation has been a major problem before the crypto-community - how to "unload" the network, increase the speed of the transaction and not pay too much for gas?
Recently, BANKEX, one of the largest financial technology companies in the world, responsible for creating the first protocol for working on plasmas, tested its prototype on the Rinkeby network. The results are staggering: the network speed reaches 5,000 transactions per second (250 times more than the current Ethereum bandwidth) at zero gas cost. According to company representatives, the working version of the protocol will further increase transaction speeds up to 100,000 per second. We know that the concept of Plasma Like Protocol was developed by Vitalik Buterin and Joseph Poon in August 2017, but it is only now that this idea has been realized; Vitalik Buterin has already noticed the efforts of the BANKEX team.
The development allows users to make a one-time transfer of funds from the Ethereum network to a BANKEX network, after which they access seamless transactions. At the same time, the company supports the support of a special contract, which allows users to transfer their funds to the Ethereum network at any time.
Specialists are skeptical about the continued development of Cryptokitties, believing that the game should lose popularity over time (much like it happened in Pokémon). However, the number of Ethereum users is increasing every day, which clearly shows that similar developments to the Plasma Like protocol are needed to ensure bandwidth and network stability.
