Gasless USDT Transfers? How Plasma Is Rethinking Stablecoin Payments
When you look at how people actually use stablecoins, it becomes clear that the problem isn’t demand, it’s friction.
The most commonly used digital currency in the cryptocurrency ecosystem is Stablecoins, which is an important part of the ecosystem with millions of users using it for a variety of purposes from Global payments, Remittances to day to day transactions. The problem with most Stablecoins is that they operate on blockchains not originally designed for this type of product, hence the high fees, slow settlement times, and confusing gas mechanics impede the operational efficacy of Stablecoins. The notion that Stablecoins are simply a product and needs to be considered when building a blockchain network is Plasma's view.One of Plasma's most useful innovations is gas-free USDT transfers. As daily users, we may find little benefit in paying for gas in a constantly changing token. Users face added friction and uncertainty, primarily in those places where stablecoins are utilized as local currency. To rid the user of this issue, plasma enables stablecoins as gas; payment transfers will therefore feel more similar to standard digital payments rather than crypto-based transactions.Speed also plays a significant role in the payments ecosystem as the time frame for payments and settlement must always be predictable and rapid. Plasma's PlasmaBFT Consensus allows for less than one second settlement with confirmed payment. This is extremely beneficial for merchants, payment service providers, and fintech platforms because they cannot afford to experience the rejection of payments due to processing delays or reok risk during the settlement phase of the transaction process.In addition, Plasma has EVM compatibility through Reth, meaning existing Ethereum applications can be deployed without needing to create a new stack. Developers now have a choice between efficiency and interoperability; Plasma achieves both through its support for live payment flows.Security and neutrality are also key design elements of Plasma; by anchoring security to Bitcoin, it strengthens censorship-resistance, and lowers the reliance on any one ecosystem.The target audience for Plasma is twofold: (1) The retail user, who exists in high adoption environments and will benefit from the increased security and censorship-resistance. (2) Institutions who require predictable, neutral infrastructure to support payments and settlements.There are many parts of Plasma that make it different; however, the most important aspect is that it does not intend to replace all the uses cases of a blockchain. It is focused specifically on one use case that already has achieved significant scalability: Stablecoin Payments.Plasma has redesigned the way in which stablecoin payments occur by solving critical issues that occur during periods of significant instability as a result of increased adoption. The increasing maturation of Cryptocurrency will create a demand for the infrastructures created based on actual use, rather than by conceptualised narratives. Although concepts of gasless transfers, fast settlement, and Stablecoin-specific designs appear to lack marketability, they fulfil invaluable needs in the marketplace and represent a transition of how blockchains can be developed and used based on how individuals actually utilise money as opposed to how Blockchain Protocols were designed in a conceptual manner.@Plasma $XPL #Plasma
$VANRY Not every blockchain is meant to impress developers first; some are built for the people who actually use the products. Many blockchains focus on attracting new users; however, very few of them build their technology to provide the greatest user experience with their product. Vanar, however, takes a different approach. They prioritize the user experience first and foremost. The creators of Vanar come from fields such as gaming, entertainment, and user-focused brands. As a result, the way they have developed their entire ecosystem reflects these areas of expertise.
Instead of trying to get a user to understand the complexities of cryptocurrency, Vanar has integrated Web3 capabilities into the types of environments that are currently popular with consumers. Video games, metaverse platforms, and virtual experiences are all examples of the kinds of environments that Vanar has designed around the concept of integrated product offerings and interaction (as opposed to de-coupled offerings). Virtua Metaverse and VGN gaming network are examples of both ownership and interaction and also highlight how both of these elements can be combined to create a more engaging experience for a consumer. As Web3 continues to evolve and more users begin to experience its benefits, it will be through platforms that are seamlessly integrated into their day-to-day lives and focus on delivering value and enjoyment that these users will adopt Web3 technologies. As a result of that, Vanar's Layer 1 network will be positioned to provide technology for tangible real-world use, not just to crypto-related companies and consumers. In the end, adoption happens when technology steps back and the experience speaks for itself. @Vanarchain #vanar
Vanar’s Vision: Making Web3 Practical for the Next 3 Billion Users
When you look at Vanar, it feels less like a blockchain experiment and more like something built for people who will actually use it. Unlike other Layer 1 blockchains that make complicated, techie promises to developers, Vanar built itself from the beginning around one idea: to make Web3 accessible, aspirational and scalable for everyday people. They do not talk about infrastructure; instead, they look to the way users, brands and creators engage with technology in the real world.Vanar's point of differentiation comes from the proven track record of their team. While most Layer 1 blockchains say they are building for the future of crypto, many of the people who are building Vanar have significant experience working with gaming companies, content providers and global brands. This experience is critical when driving adoption because it is very unlikely that someone will adopt this technology simply because they have read a white paper. People will only adopt these technologies by using products they love and enjoy, such as games, virtual worlds, entertainment and interactivity. Vanar has designed its platform to help provide smooth access to this technology for developers to build these types of products.Vanar has a multiple-pronged approach to supporting an ecosystem that integrates multiple sectors (verticals) of business types into one entity. While gaming is at its core with the VGN gaming network supporting scalable, user-friendly blockchain games as a major initiative, the Virtua Metaverse takes things up a notch by creating immersive environments containing digital ownership elements to provide brand-user interaction opportunities within easily recognizable experiences as opposed to something more experimental. Beyond gaming and the Virtua Metaverse, Vanar is working on AI and environmentally friendly projects to bridge the gap between Web2 and Web3 technology for Brands and Users.The approach of having a multi-product offering is critical because the next generation of Web3 users will come through a variety of methods i.e,entertainment, social interaction, branded products and services, and while these users may not be aware that they are using blockchain technology under the hood, Vanar's infrastructure has been designed to accommodate this range of user needs without requiring them to have a full understanding of the underlying technologies.Vanar's VANRY token sits at the center of the company's ecosystem and serves as the basis for all transactions, participation, and value exchange throughout its product network. Rather than providing speculative value, VANRY has significant utility in supporting the growth and sustainability of Vanar's ecosystem.As Web3 continues its growth from early to mainstream adoption, the value of a user-friendly platform and one that is effectively serving the needs of "real" businesses will far outweigh any short-term hype and promotions of other companies. The focus of the company on providing consumers with a great experience, establishing partnerships with traditional businesses, and developing usable products have positioned them as a true Layer 1 company that is not just for the crypto native, but for the future millions of consumers that may not know they are entering Web3.In the end, what matters is whether people actually enjoy using it.@Vanarchain $VANRY #vanar
$XPL For most users, a good payment system is one they don’t have to think about. While stablecoins are a viable means of payment, most blockchain's treat stablecoins as a simple token option in an ecosystem filled with high gas fees, lengthy confirmation times, and complex transfer methods which can make the process of transferring your stablecoin much more difficult than it should be. The Plasma Protocol bypasses the blockchain's shortcomings by combining a Layer 1 chain built solely for the settlement of stablecoins with the benefits of speed and no-gas transfer options. The Plasma Protocol provides an extremely fast and durable layer-one chain for stablecoin transfers.
Plasma enables users to send and receive USDT without incurring gas fees, so users don't have to hold volatile tokens to transfer their stablecoins. Plasma provides a transparent and predictable payment mechanism that allows users to send and receive payments within sub-seconds, a feature that is crucial for many real-world transactions that cannot afford to delay their completion.
Plasma allows EVM developers to build dApps that are EVM compatible, allowing for seamless development. To ensure security, the Plasma Protocol uses the Bitcoin network as a means of anchoring, providing a high level of neutrality and censorship resistance. The Plasma Protocol is not pursuing hype; rather it is seeking to understand how stablecoin will be used on a daily basis. @Plasma #Plasma
$WAL It’s not exciting infrastructure, but it’s the kind that makes everything else possible. Many Web3 problems don't require a new and exciting solution. The type of problem requires an unexciting and necessary online service. Storage is an example of this. If there is no dependency on storage media, then decentralisation cannot work. Rather than trying to replace blockchain technologies, Walrus is designed to provide an alternative way of storing and accessing data that blockchains were never intended to do. In addition, Walrus will provide users with a lighter and more efficient version of applications, and will require less effort to maintain over time.
Durability is a major consideration for Walrus. It is assumed that as time passes, the number of users of Walrus will increase and the amount of data will increase. Because of this assumption, Walrus has developed a strategy to assist the future growth of Web3 towards becoming as mainstream as it is today. Some of the more valuable developments within Web3 are occurring behind the scene; they may be the most impactful ones. @Walrus 🦭/acc #walrus
$DUSK DeFi zbudowane dla regulacji nie ma na celu ograniczenia wolności tych, którzy korzystają z usługi, ale zamiast tego zapewnia sposób na rozwój i przetrwanie branży DeFi w prawdziwym środowisku produkcyjnym. Rzeczywiste przyjęcie DeFi nie polega tylko na innowacjach, ale także obejmuje budowanie struktury wokół tej innowacji, aby zapewnić niezbędne zarządzanie, zarządzanie ryzykiem i zgodność, aby działać jako prawdziwy biznes. Tworząc zasady w łańcuchu i zapewniając środki dla zgodnego z prywatnością DeFi, Dusk umożliwił użytkownikowi DeFi szybkie i zaufane realizowanie transakcji bez potrzeby polegania na pośredniku w rozliczeniach, a jednocześnie przestrzegając wszystkich przepisów. W miarę jak DeFi nadal rośnie, sieci, które są budowane wokół odpowiedzialnych praktyk biznesowych, będą w stanie przyciągnąć bardziej poważnych uczestników. Dusk ilustruje ten ruch w kierunku rzeczywistego zastosowania DeFi. @Dusk #dusk
$DUSK Privacy isn’t about hiding things, it’s about sharing only what’s necessary. Transparency is one of the most difficult aspects of DeFi. On the one hand, being open creates trust; on the other hand, being too visible discourages people from participating. Because trades, assets, and counterparties are exposed to the public, they are subject to increased risk. To solve this issue, Dusk Network is separating verification from disclosure.
When using Dusk, transactions can still be verified as valid without revealing all of the details. This allows regulators and auditors to review the required information, but it does not force the entire system to publicly display all of the sensitive information that is occurring within the Dusk network. Therefore, Dusk allows DeFi to become a practical way for professionals to invest in cryptocurrency while creating a bridge between decentralized finance and traditional finance. @Dusk #dusk
$WAL This feels less about trends and more about whether Web3 can actually last. Web3 systems can handle low levels of activity, but as the usage volume grows, that’s where the web infrastructure becomes critical. Storage, in particular, can often be a bottleneck. Without the proper metadata, or an asset being unavailable at a critical moment, it can cause a great deal of frustration and quickly erode a user’s trust.
Walrus was designed to scale with the growth of demand. Instead of viewing data storage as a temporary solution, it takes on the responsibility of data management long-term by decentralising how data is stored and accessed. This decentralisation model has a dual benefit by significantly reducing potential failure points. It allows applications to remain functional and responsive during peak demand periods. Strong web infrastructure goes unseen, but weak infrastructure is evident everywhere. @Walrus 🦭/acc #walrus
$DUSK At some point, DeFi has to deal with rules instead of avoiding them. While DeFi was founded on an open and experimental philosophy, that model isn't always the best fit for real-world finance. Institutions require systems that respect the rules, privacy and accountability at all three levels of infrastructure or technology (institutional, individual, and society). The Dusk Network takes an entirely different approach - instead of adding compliance later in the process, Dusk is built into the core. Dusk enables verification of transactions through the use of selective disclosure (also known as verifiable disclosure). Sensitive data can be kept confidential while the network still verifies that transactions are legal. The concept of selective disclosure is particularly important for regulated assets and financial products, providing a means for DeFi to progress to real-world applications where trust and legality are at stake. @Dusk #dusk
$WAL Most people only notice infrastructure when it stops working. People in Web3 care about applications (dapps) and tokenisation, however the life span of a network is determined by its underlining structure/technology. The underling technology enables NFTs and games and social Networks are reliant on the data centre being available when the user wants access, if the data centre goes offline then any artwork that was created based on that artwork would cease to function. Walrus targets these types of solutions that are not visible. Walrus provides decentralised storage that is designed to ensure that data forever remains available via a decentralised means of storage. As the technology matures and enters into the commercial market place, developers will have a need for solutions that are stable rather than the solutions that create hype. It will ultimately be these stable solutions that will dictate when an ecosystem has the ability to grow or crash due to stress. @Walrus 🦭/acc #walrus
Dusk Network’s Approach to Building Regulation-Ready DeFi
The more I read about this, the more it feels like a response to how finance actually works, not how we wish it worked
Decentralized finance is growing rapidly, but most DeFi was built for open experimentation instead of regulations. Complete transparency in testing ideas is a concern when it comes to dealing with real-world assets, institutions, and legal obligations. Dusk Network has taken a different approach to this dilemma by designing DeFi around regulations from the beginning.Dusk network focuses on privacy that can be controlled; not eliminated. The network allows for selective Disclosure, rather than exposing all transaction details. This allows users/institutions to keep sensitive information/private while proving that the transaction has occurred and valid. Regulators/auditors can verify activity as needed, while by default the network does NOT make ALL data public.This balance is very relevant in order for institutions to utilize DeFi for realistic financial operations. Institutions cannot operate on public systems where their strategies, balances, and counterparties can be seen by ALL. However, compliance cannot be overlooked; Dusk bridges this gap by providing transparency at the protocol level and confidentiality at the transaction level.Trust is also a critical component; on Dusk network the rules are enforced on-chain, eliminating manual processes and third parties, which will make regulated DeFi more efficient and trustworthy. Therefore, the assets settle based on clear guarantees while remaining compliant with the LEGAL boundaries.Dusk is able to utilize regulation, rather than trying to fit the regulation into DeFi afterwards. By taking this route, Dusk has created an ideal environment for compliant tokenised securities, compliance trading, and institutional involvement. As the DeFi industry continues to grow and evolve, the systems that can support existing financial structures will be the most important.Regulation-ready DeFi does not prevent innovation from occurring. Rather it creates a path for the use of decentralised systems in the real world. The design of Dusk demonstrates that compliance, privacy, and transparency can work together on-chain, if designed appropriately from the start.@Dusk $DUSK #dusk
Why Infrastructure Projects Like Walrus Define Long-Term Ecosystems
The more I look at Web3, the clearer it becomes that the real risks are not in ideas, but in the systems supporting them.
While attention and hype may tend to center around apps and tokens, ultimately the health of an Ecosystem largely depends on the durability of its core Infrastructure systems over time. Without durable core infrastructure supporting an Ecosystem, all of the "exciting" components will break down and eventually die.Walrus is addressing the issue of Data Reliability by offering Decentralized Data Storage that was developed specifically to provide a long-term repository for Web 3.0 data. By offering a long-term home for web3 data, it eliminates reliance on centralised storage providers or exclusively on-chain data storage solutions (where each of the various storage solutions has limitations regarding availability and reliability). Although to many people this may not seem to be an "exciting" solution in a rapidly growing Ecosystem like Walrus, it is actually critical for the continued viability of an Ecosystem's core infrastructure.With the increasing adoption of Web3, there is more and more pressure put on the infrastructure that supports it. When low growth systems are implemented with real demand, they typically break down. Thus reliable storage of NFT metadata many years in to the future, and game play that depends on persistent assets, or apps relying upon historical data, will require long-term responsibility. That is why Walrus has been built to reflect this long-term responsibility.The infrastructure projects play a role in defining trust as users may not always see their impact, but when they fail, users feel their effect. A stable and sustainable ecosystem is made up of elements that are able to perform quietly without needing constant repair. Walrus has positioned itself to be a solid foundation, rather than chasing a quick burst of hype. Eventually, ecosystems will begin to determine themselves not by funds spent on developing applications, but by their overall stability or sustainability when pressured. Walrus can help develop Web3 into a more robust structure, provide greater clarity with regards to decentralised nature of Web3, and prepare for “real-world” usage. Therefore, more than simply getting attention or users to use your product, you must build your product so that it lives up to these principles of sustainable infrastructure.@Walrus 🦭/acc $WAL #walrus
$XPL This feels less like a theory-driven project and more like something designed for real payments. Plasma is a Layer 1 blockchain that specializes in stablecoin finalization. It views stablecoins as a core component of the network, rather than just another asset, and builds everything around their usage. It has complete Ethereum support via Reth and extremely fast finalization times with PlasmaBFT, making transactions fast and predictable.
Gasless USDT transfer and stable gas are features that reduce friction for regular users, especially in regions where adoption is high. On security, a Bitcoin-secured design is neutral and censorship-resistant. Plasma targets retail and institutional users by focusing on reliability over hyped projects, making it a viable settlement solution for real-world finance. @Plasma #Plasma
$WAL It’s not exciting infrastructure, but it’s the kind that makes everything else possible. Web3 does not always need an extravagant answer for a given dilemma : here are countless dull but unquestionably essential forms of infrastructure that need addressing on a continual basis. For example, storage is needed to achieve complete decentralization via dependable access to data. Unlike many solutions within the web3 ecosystem, Walrus does not strive to replace existing blockchains; rather, Walrus assists blockchains by providing a means to manage data in a manner for which blockchains were never intended. By providing this type of management, Walrus creates lighter, more efficient applications and simplifies the subsequent maintenance period.
Walrus is distinct from other web3 applications by focusing on the long-term viability of its customers. As applications continue to experience growth through an increase in data storage and user activity Walrus optimistically addresses these future concerns today, helping Web3 grow towards being fully functional by bringing the technology one step closer to commercialisation. In many instances, the most beneficial projects are those developing their infrastructure in a clandestine manner enabling them to thrive in the future. @Walrus 🦭/acc #walrus
$DUSK Czasami postęp nie polega na dodawaniu większej widoczności, ale na dodawaniu lepszej kontroli. Szerokie przyjęcie publicznych blockchainów nie ma tej samej łatwości eksperymentowania, co publiczne blockchainy. Przytłaczający stopień przejrzystości sprawia, że uczestnictwo w Kanałach Rynków Profesjonalnych jest wyzwaniem, a Dusk uznaje ten fakt, dlatego zbudowali swoją sieć z tym na uwadze. Protokół Dusk jest zaprojektowany w celu osiągnięcia równowagi między przejrzystością, którą oferuje na poziomie protokołu, a poufnością, która występuje na poziomie transakcji. Dzięki temu Dusk może oferować użytkownikom znacznie niższe ryzyko ujawnienia lub narażenia wrażliwych danych, jednocześnie chroniąc ogólną integralność swojej sieci dzięki zdolności do weryfikacji transakcji, co zmniejsza zależność od Zaufania. W miarę jak Web3 nadal się rozwija i ewoluuje, ten rodzaj równowagi stanie się niezbędnym wymogiem, a nie tylko opcją. @Dusk #dusk
$WAL To wydaje się być jednym z tych rzeczy, które przyciągają uwagę tylko wtedy, gdy przestają działać Wraz z rozwojem Web 3, zapotrzebowanie na Infrastrukturę pozostaje stałe, gdy nadal korzystasz z dużej ilości Infrastruktur, jednak w miarę jak liczba użytkowników rośnie, szanse na awarię systemu wzrastają w sposób wykładniczy. W związku z tym, to jest pierwszy komponent systemu, który zazwyczaj zawodzi. Na przykład, plik, który nie ładuje się szybko, plik, który nie może być już znaleziony przez użytkownika, plik, który nie dostarczył wystarczających informacji, aby użytkownik mógł zaufać temu plikowi, lub system, który może zaszkodzić zaufaniu klienta.
Walrus bierze te czynniki pod uwagę przy projektowaniu systemu. Zapewnia środowisko, w którym programiści będą tworzyć aplikacje z myślą o długoterminowej zrównoważoności. Programiści muszą zapewnić, że oferują wysoką jakość doświadczenia użytkownika, a wszyscy użytkownicy nie będą się przejmować, jeśli wiedzą, gdzie przechowywane są dane, interesuje ich tylko, czy mogą uzyskać do nich dostęp w sposób konsekwentny. Walrus zapewnia tę rozwiązanie: system, który będzie uzyskiwał dostęp do twoich danych efektywnie i bezpiecznie, jednocześnie pozwalając na maksymalną decentralizację. @Walrus 🦭/acc #walrus
$DUSK Łatwo jest mówić o przejrzystości, ale trudniej jest zaprojektować ją odpowiedzialnie. Dusk nie traktuje informacji prywatnych jako drugorzędnych. Prywatność jest wbudowana w system Dusk od pierwszego dnia. Celem Dusk jest zapewnienie użytkownikom kontroli nad tym, jakie dane udostępniają i z kim są one udostępniane, zamiast po prostu tworzyć iluzję prywatności, ukrywając ją, co jest typowe dla wielu blockchainów mających opcjonalny komponent lub dodatek, taki jak prywatność. Gdy instytucje szukają sposobów na wdrożenie rozwiązań, które pozwolą im spełnić wymagania dotyczące zgodności, nie ujawniając jednocześnie wszystkich swoich działań wszystkim przez cały czas, Dusk ściśle współpracował z organami regulacyjnymi, aby ustanowić zgodną z przepisami metodę, która utrzymuje prywatność transakcji oraz zapewnia dowód on-chain. Dusk wspomaga ułatwienie przenoszenia regulowanych aktywów i/lub tworzenia regulowanych produktów finansowych w przestrzeni blockchain. @Dusk #dusk
$WAL W pewnym momencie każdy projekt Web3 musi zmierzyć się z pytaniem, gdzie właściwie znajdują się jego dane. Podczas gdy decentralizacja jest często omawiana w świecie Web3, magazynowanie jest zazwyczaj pomijane. Wiele aplikacji nadal przechowuje obrazy, metadane i treści generowane przez użytkowników na scentralizowanych serwerach, co otwiera możliwość, że te scentralizowane serwery mogą albo ulec awarii, albo zostać wyłączone, co skutkuje utratą funkcjonalności aplikacji, nawet jeśli underlying blockchain pozostaje funkcjonalny.
Walrus jest próbą naprawienia tego punktu słabości poprzez zapewnienie sposobu umożliwiającego rozwiązania do zdecentralizowanego przechowywania bez polegania na scentralizowanych dostawcach przechowywania lub zmuszania do dużych ilości danych na łańcuchu. Jest to bardzo ważne, ponieważ świat Web3 rozwija się poza małe prototypy i w pełne wdrożenia NFT, gier i platform mediów społecznościowych, które polegają na długoterminowym, spójnym dostępie do swoich danych. Choć niezawodne przechowywanie może nie wydawać się najciekawszym aspektem Web3, to określi, które produkty Web3 będą mogły utrzymać się na dłuższą metę. Walrus działa w tle, zapewniając fundament dla aplikacji, aby mogły być budowane z większą trwałością i absolutną przejrzystością w tym, jak wdrażają decentralizację. @Walrus 🦭/acc #walrus
$DUSK This is one of those ideas that only makes sense when you think about real users, not just tech.” In addition to being one of the most significant benefits of blockchain technology, transparency can also be considered as a limitation of blockchain when considered from the perspective of the user. The ability for the general public or any entity to view and inspect every detail of transactions represents a risk of revealing sensitive proprietary information. To address this, Dusk provides a more careful middle ground by allowing for selectively exposed transactions. In this manner, transactions can be proven to be accurately recorded on-chain while still protecting sensitive versions of that transaction record from general view.
This also speaks to a significant need for privacy in the real world of finance; if a business had all its strategy and client/broker balances publicly available, its ability to operate as a business would quickly be limited. The Dusk protocol enables network members to verify the integrity and correctness of their transactions without the need to share excess data with the general population; This balanced approach to making the best use of trust versus privacy. @Dusk #dusk
Dlaczego projekt Plasma oparty na stablecoinach ma znaczenie dla płatności w rzeczywistym świecie
To, co zwróciło moją uwagę, to jak Plasma jest zbudowana wokół tego, jak stablecoiny są rzeczywiście używane, a nie tylko jak wyglądają na papierze.
Podczas gdy większość przypadków użycia dotyczy spekulacji, ludzie w rzeczywistości polegają na stablecoinach w przypadku płatności, transferów i rozliczeń znacznie częściej niż w przypadku jakiegokolwiek innego zastosowania. A jednak większość blockchainów nigdy nie została zbudowana z myślą o tych obszarach, szczególnie o stablecoinach. Plasma przyjmuje kontrariańskie podejście, w którym blockchain warstwy 1 jest zaprojektowany z konkretnym naciskiem na rozliczenie stablecoinów.
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