According to reports, Blockchain data platform Streamr, has officially launched a new open-source Ether scaling technology that will be called Monoplasma. Monoplasma is inspired by an already existing scaling solution known as Plasma.
Also, according to Henri Phikala, the CEO of Streamr, the new initiative will reportedly be different Plasma and will be focused specially on tackling one to many payments were users will have to distrusted value to a huge and dynamic set of Ethereum (ETH) addresses repeatedly.
Ethereum (ETH) Price Today – ETH / USD
Monoplasma Tackles More Than Just Revenue Sharing
According to the Streamr CEO regarding the use cases for the new technology, Pihkala said that Monoplasma isn’t only about revenue sharing. Rather, he insisted that the technology is envisioned to aid open-source decentralized apps (dapps) looking to include “dividend distributions, repeated airdrops, staking rewards,” and much more.
When demonstrating the capabilities of Monoplasma on stage, Pihkala was able to show how the tool or technology can be utilized to drop small sums of fake “unicorn” tokens in about 100,000 addresses in a test version of the Ether Blockchain.
New Technology Likened to Broadcasting Money By Streamr’s Head of Communications
Advertised as a “unique-purpose off-chain scaling solution,” the head of communications at Streamr Shiv Malik, likened the new technology to “broadcasting funds.”
According to Malik:
“You can receive funds, but you cannot send money back the other way. This would be like attempting to send a message through your TV”.
This is what Malik teams as a safer option because the issue of no double spends (where tokens are typically counterfeited) can really occur on a Monoplasma payment network.
However, Phikala emphasized that on the new channel you can only earn money.
“Via the side channel, you can earn money,” Pihkala said.
Streamr’s Unidirectional Monoplasma Payments System
Streamr is reportedly hoping to to use the new technology to crowdsell their user data on the Blockchain. Once the data from its users is sold out to a bidding firm, payment will be directly pushed into the user’s Ethereum (ETH) address.
Launched in May of last year, Streamr has entered into partnerships with a number of technological conglomerates including Finnish telecom company Nokia and Hewlett Packard Enterprise.
Now, all Ethereum (ETH) developers are being encouraged to try the Monoplasma technology by downloading the GitHub public code repository.
Pihkala concluded by saying:
“If anyone else finds any use cases in Monoplasma, that is awesome, that is what makes us happy. However, at least, we are looking to expand on top of it. Meaning that Monoplasma is going to be maintained very well. And it is not about to be discontinued anytime soon.”
Ethereum (ETH) has touched the $151.00 handle during the early Asian hours.
However, it eventually retraced to about $147.40 as of press time. A sustainable move beyond the $145.70 resistance position formed a strong upside momentum which may ultimately result in the initiation of a strong bullish price action for the digital asset in the short-term.
Ethereum (ETH) also sees a sharp increase in its average daily trading volume just ahead of the long-anticipated Constantinople upgrade, which is a positive sign for the digital asset. ETH has reportedly gained more than 7.5% day-over-day.