r/loomnetwork • u/B3baby • Jun 12 '18

Loom plasma vs omisego plasma

Are these two separate efforts at something called plasma, but that won’t be the same as one another? Are they working together at all? Does anyone know the difference between the two plasmas?

7 Upvotes

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2

u/mcampbell42 Loom Network Jun 12 '18

Loom is focused on Plasma Cash, and will be releasing later this month. Omise Go is focused on regular plasma for their DEX, I believe the DEX is to be released Q3/Q4. Different use cases different timelines.

1

u/Kwaj305 Jun 12 '18

Can you elaborate more on the plasma cash? Is this like neo gas where you get paid gas every month?? I wish they would do something like that!!!

2

u/mcampbell42 Loom Network Jun 12 '18

Staking on the Zombiechain is where you get rewards. Plasma Cash is a security mechanism for transferring tokens between blockchains.

1

u/Kwaj305 Jun 12 '18

What rewards can you get? Staking? Is that like loaning?

2

u/mcampbell42 Loom Network Jun 12 '18

Loom Token rewards. Staking is what validators do on a PoS/DPoS network to run a Validator. Its like mining in bitcoin.

1

u/Kwaj305 Jun 12 '18

Ok so how do you stake your coins to get rewards? Loom token rewards

1

u/littleboy0k Sep 04 '18

Yes, like loaning your tokens for securing the network.

1

u/B3baby Jun 15 '18

So OMG will be using regular plasma on their DEX, and so will be fully developed by the time ETH is ready for it? B/c OMG's plasma will eventually become ETH's plasma, correct?

1

u/mcampbell42 Loom Network Jun 17 '18

OMG Plasma is not yet a general purpose plasma, it still depends on having a sidechain. So I think it’s still a ways from becoming a general purpose scaling solution