@Plasma (XPL) is a high-performance Layer 1 (L1) blockchain explicitly engineered for stablecoin payments and global financial settlement. Launched in 2025, it aims to make digital dollars function like cash by eliminating traditional blockchain frictions such as high fees and slow transaction times.
Core Technology & Performance
The network achieves sub-second finality and throughput exceeding 1,000 transactions per second (TPS) through its hybrid architecture:
PlasmaBFT Consensus: A custom Byzantine Fault Tolerant protocol based on Fast HotStuff. It uses pipelining to process multiple blocks in parallel, ensuring deterministic finality in under one second.
Reth Execution Layer: Built on the high-performance Reth Ethereum client (written in Rust), the network is fully EVM-compatible. This allows developers to deploy Solidity smart contracts using standard tools like MetaMask, Hardhat, and Foundry.
Bitcoin-Anchored Security: To enhance neutrality and censorship resistance, Plasma periodically anchors its state roots to the Bitcoin blockchain. It also features a trust-minimized Bitcoin bridge that mints pBTC for native use in its DeFi ecosystem.
Stablecoin-Centric Features
Plasma introduces unique economic models tailored for everyday use:
Gasless USD₮ Transfers: Through a built-in Paymaster system, users can send USDT without holding native XPL tokens or paying any transaction fees for standard transfers.
Stablecoin-First Gas: Beyond free transfers, the network supports custom gas tokens, allowing users to pay for more complex transaction fees directly in stablecoins (e.g., USDT, USDC) via an automated swap mechanism.
Confidential Payments: Currently under research for 2026, this module aims to introduce privacy features that hide transaction amounts and recipients while maintaining compliance.
Tokenomics & Market Traction
The native token, XPL, is used for network security (staking), governance, and as a fallback gas token.
Total Supply: 10 billion XPL tokens.
Launch Momentum: Plasma's mainnet beta launched on September 25, 2025, with over $2 billion in stablecoin liquidity committed on day one.
Ecosystem: The network is supported by major industry players including Tether, Bitfinex, and Founders Fund.
