Streamr is known for its services as a blockchain data platform. After a scaling solution that was already embedded in the platform called plasma, the developers chose to advance their technology even further with another change, which is called Monoplasma this time. Though it was inspired by the former solution, this technology will be improving scalability via Ethereum.
Unlike the plasma solution, Monoplasma zones in on “one-to-many payments.” This type of service requires the user to “repeatedly distribute value to a large and dynamic set of Ethereum addresses,” according to CEO Henri Pihkala of Streamer.
During an interview with CoinDesk, Pihkala spoke on the use cases that this type of technology would apply to. Though it helps with revenue sharing, the CEO sees the technology working more towards open-source decentralized applications, as they seek to add “dividend distributions, staking rewards, repeated airdrops,” and other opportunities for users. In a test version, Pihkala went to the ETHDenver event for a demo to show the ease of using the tool for small airdrops of fake “unicorn” tokens, applying it to 100,000 addresses.
Shiv Malik, the head of communications for Streamr, sees the technology as an off-chain scaling solution that would be implemented in special circumstances. He compared the process and to “broadcasting money.” Explaining further, he said, “You can receive money, but you can’t send back the other way. That would be like trying to send a message to your TV.”
The design of this payment channel makes it impossible for double spending to take place. Pihkala was clear about this lack of vulnerability, explaining, “On the side channel, you can only earn money.” Ultimately, the technology will help with the crowd sell of user data on the blockchain. Essentially, as the bidding company purchases the user data, the payment goes directly into the user’s Ethereum wallets.
Streamr has spent the year establishing new partnerships with various tech corporations to support the creation of the technology. Some of those partners include Hewlett Packard Enterprise and Nokia. Now, any developer has an opportunity to download the public code for Monoplasma from GitHub to see how it works for them.
Pihkala ended the conversation with CoinDesk, adding, “If someone else finds use in [Monoplasma] that’s awesome, that’s what makes us happy. But at the very least, we’re going to build on top of it – meaning [Monoplasma] is going to be well maintained. It’s not about to be abandoned anytime soon.”
Streamr is known for its services as a blockchain data platform. After a scaling solution that was already […]
We can identify the price action causes of why price is finding it difficult to move higher by analyzing longer… Read More
Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark… Read More
Bitcoin price cycles can be influenced by a number of factors, FOMO and public sentiment is one, and mining profitability… Read More
A recent plunge in the bitcoin price is looking to negate some of its losses as China’s currency weakens to… Read More
Central banks around the world are on a negative rate binge to further a compelling case for bitcoin.. | Source:… Read More