Why does Plasm need Layer2 technology? When will the parachain auction plan be announced? ｜PW Interview with Plasm

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PW: Please introduce yourself and Plasm Network!

Sota: Hello everyone. I'm Sota Watanabe, founder of Plasm Network.Plasm Network is a multi-virtual machine smart contract platform on Polkadot, compatible with Ethereum and supports Layer 2 technologies such as ZK Rollups.

A little bit about me, I used to work for SoftBank and a blockchain company in Silicon Valley. After that, I returned to Tokyo and became a blockchain researcher at the University of Tokyo. Now, I'm also a working group member of the Trusted Web Promotion Council led by the Japanese government.

PW: Also as a smart contract platform on Polkadot, what is the biggest difference between Plasm and Moonbeam?

Sota: This is also one of the most frequently asked questions in our community. I think there are at least 3 differences.DApp StakingFirst, the biggest difference is that Plasm has

mechanism, only Plasm Network has such a mechanism in the Polkadot ecosystem. In short, dApp developers can earn PLM tokens by developing dApps on the Plasm Network, and we have designed a 50% block reward for this feature. Developers must pay the gas fee, however, we designed the reward to be higher than the required gas cost. When you develop a dApp on Moonbeam, you have to pay gas fees, and there is no such incentive for developers. In short, you can earn PLM by developing smart contracts. It's a simple but very powerful distinction.Second, Plasm isSupports both EVM and WASM-based smart contracts

. That is to say, Plasm has excellent compatibility with existing mainstream smart contract technology stacks, including Ethereum Solidity. Therefore, users can deploy Solidity, Vyper, and ink on Plasm through existing tools, such as Metamask, Remix, etc. contract. While Moonbeam is only focusing on Ethereum compatibility, we don't know their strategy on WASM.The final difference, Plasm has features including OVM and ZK rollups. Therefore, from the beginning, Plasm is scalable.

PW: There are very few Layer 2 in the Polkadot ecosystem. Why did Plasm pay attention to Layer 2 from the beginning? Why are you optimistic about this direction?

Sota: Currently, our Layer2 solution is an add-on. But I believe it's important.First, I believe that many Ethereum projects will start using Rollup solutions in the next few months. Since Plasm also supports Rollup, they canMigrating from Ethereum to Polkadot

Second, less than 1% of people are currently using blockchain. Based on the current Layer1 highhandling feehandling feeand slow, without Layer2, how can we enable billions of people to use Web3.0?

PW: How to achieve the function of smart contracts on both Layer1 and Layer2? If the contract function on Layer 2 is to better help developers build DApps, what is the use of Layer 1 contracts?Sota: At present, Layer2 is still under active development, but some dAppsmany transactions per secondfaster certaintyandandFlexible dApp development

Currently, we are developing Rollups and we cannot create super scalable dApps using Rollups. But because of Rollups, the development of dApps on Layer 2 will become more flexible.

existOptimistic Rollupsexist

In the case of , dApp developers can easily develop dApps on Layer 2 because its solution supports EVM and existing Ethereum tools. But from the user's point of view, users have to wait about 7 days to withdraw assets from L2 to L1.ZK RollupforIt is recommended to develop applications on Layer1 first。

Sota: No shock, Plasm is now developing ZK Rollup and has submitted Milestone 1 for Web3 Foundation Grant. (https://github.com/w3f/Grant-Milestone-Delivery/pull/93)

2021,2021,After supporting Rollup, I believe that many Ethereum projects will have more interest in Polkadot.

PW: Many investors believe that one of the trends in 2021 is the implementation of DeFi on Layer 2. Do you agree with this view? As one of the few projects in the Polkadot ecosystem that focuses on Layer 2, will this be your opportunity?

Sota: I agree. Ethereum Layer 1 is still expensive, and it will take time to implement Ethereum 2.0. Therefore, the Ethereum project will use Layer2 solutions, especially Rollup.In 2021,traditional process. Perhaps in the future, deploying dApps on Layer2 will be more common than deploying dApps on Layer1. In this case, we use Layer1 as the security layer and Layer2 as the transaction layer. This is a huge opportunity for the Plasm network!

PW: Can you tell us about your plans for parachain auctions?Sota: Kusama auction coming soon,。

We are also about to start leasing of parachain slots (PLO)First, auctions are conducted through a mechanism called Candle Auctions. To participate in the Kusama parachain auction, you need to own KSM tokens. pass。

Lock KSM for the parachain slot of the Shiden network, and you can get SDN tokens in proportion to the locked amount

Therefore, the best way to prepare for the auction is to hold KSM tokens until the auction date is announced by the Web3 Foundation. If you stake KSM on Kusama, it will take 7 days to unlock KSM. We will ensure that an announcement is made at least 7 days before the auction.

We are currently working with some of the top exchanges to make our slot auction a success. It is hoped that users can participate in auctions directly from centralized exchanges. People who don't trust centralized exchanges can also join Shiden's slot auction using an interface developed by Stake Technologies.More importantly, once everything is ready, we will. We're going to want everyone to go to the auction on Day 1. Therefore, those who are interested in the Plasm parachain, please prepare for the auction and participate in the auction on the first day!

Reference link:

https://forum.plasmnet.io/t/all-you-need-to-do-to-prepare-for-the-auction-to-get-sdn-plm/900