Scalability or increasing transaction speed is always a big challenge in the cryptocurrency world. The @Plasma project is working to solve this problem. Basically, it acts as an additional layer on the blockchain network, which reduces the burden on the main chain and makes transactions very fast and cost-effective. It can be called a "chain within a chain" in simple terms.
What does Plasma actually do? Usually, when there is a lot of traffic on Ethereum or other large networks, gas fees increase and transactions slow down. The Plasma network processes these complex transactions off-chain and only submits the final result to the main network. As a result, users can complete transactions within seconds at a nominal cost. This is especially useful for the micro-payments and gaming sectors.
Role of $XPL Token: The lifeblood of this ecosystem is the $XPL token. It is used as a means of network governance, staking, and payment of transaction fees. Those who help secure the network are rewarded with $XPL . The project is making blockchain accessible to the masses without compromising on decentralization and security.
In short, #Plasma is a modern solution that promises to make the digital economy of the future more dynamic and affordable.
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