Plasma – a name that has recently stood out in the cryptocurrency space, especially with the focus on stablecoins! 🚀
Plasma is a Layer 1 blockchain project specifically designed for stablecoins like USDT, with the goal of addressing the bottlenecks of high transaction fees and poor performance that traditional multi-purpose blockchain networks face.
Overview of the Plasma Project (XPL)
Initially, Plasma was mentioned by Vitalik Buterin as a Layer 2 solution for Ethereum. However, the project has restructured and returned with a new direction as a Layer 1 blockchain fully focused on optimizing the large-scale stablecoin transaction experience.
The Most Distinctive Features of Plasma ✨
The core difference of Plasma lies in its specialization. Here are its standout advantages:
Zero-Fee USDT Transactions: Plasma completely eliminates transaction fees (gas) for simple USDT transactions, which is extremely ideal for micro-payments and frequent international remittances.
Bitcoin Security Integration: It operates as a sidechain of Bitcoin, anchoring its state to the main Bitcoin chain to inherit the highest level of security and decentralization.
EVM Compatibility: Plasma is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing smart contracts from Ethereum without the need to modify the code.
Deep Liquidity: The project launched with a large amount of liquidity, including over 1 billion USD in Tether (USDT) deposits, ensuring stability and immediate usability.
