Plasma (XPL) is a Layer 1 blockchain built specifically for stablecoin transactions, aiming to provide fast, low-cost, and secure payments for global finance, featuring near-instant, zero-fee transfers for stablecoins like USDT, custom gas, EVM compatibility, and a built-in neobank for users, making it an infrastructure for financial applications, reports CoinMarketCap.
Key Features
Stablecoin-Focused: Designed from the ground up for the unique needs of stablecoins, handling high volumes efficiently.
Zero-Fee Transfers: Offers free USDT (Tether) transfers using a paymaster system.
High Performance: Provides fast transaction speeds with institutional-grade security for DeFi and global payments.
EVM Compatible: Allows developers to easily build applications that are compatible with Ethereum.
XPL Token: The native token used for staking by validators and potentially as a settlement/gateway token.
Integrated Neobank: Includes a native banking experience for users.
How it Works
Plasma uses a Proof-of-Stake (PoS) consensus mechanism, where validators stake XPL to secure the network and earn rewards.
Its design optimizes for stablecoin use cases like remittancesDeFi, and everyday payments, filling a gap for a purpose-built network.
Goal
To become the foundational layer for the next generation of digital money, making stablecoins more effective for real-world financial applications. Plasma is a layer 1 blockchain designed for global stablecoin payments.Stablecoins are borderless digital dollars built for the internet, offering a simple way to send, hold, and use money without volatility.Stablecoins are borderless digital dollars built for the internet, offering a simple way to send, hold, and use money without volatility.Stablecoins are rapidly growing in adoption and usage. With over a quarter of a trillion dollars in stablecoin supply, and trillions of dollars in monthly volume, stablecoins are the most dominant crypto use case.However, the lack of a purpose-built network for stablecoins hindered their effectiveness and impaPlasma is purpose-built for stablecoins, offering zero-fee USD₮ transfers, custom gas tokens, and confidential transactions. These features combine to deliver a faster, cheaper and simpler experience for both developers and end users, making it the ideal foundation for applications that move money.ct.
Plasma is secured by PlasmaBFT, a high-performance implementation of Fast HotStuff written in Rust. It combines the safety of Byzantine Fault Tolerant (BFT) consensus with low-latency finality, enabling the high throughput and deterministic guarantees required for stablecoin-scale applications.Plasma’s execution layer is powered by Reth, a modular Ethereum execution client written in Rust. It enables fast, efficient state execution without compromising EVM correctness.Plasma’s execution layer is powered by Reth, a modular Ethereum execution client written in Rust. It enables fast, efficient state execution without compromising EVM correctness.At a network level, Plasma offers unique features such zero-fee USD₮ transfers, custom gas tokens, and confidential, yet compliant transactions, to ensure that it is the best blockchain for global money movement.
Additionally, to meet the existing and future demand for stablecoins, Plasma can facilitate thousands of transactions per second, with robust network-level security., instead, there will be a gradual rollout of key features to the network. We will be launching with mainnet beta and evolving the blockchain over time.
At mainnet beta, we will launch with PlasmaBFT to achieve network consensus and our Reth execution layer. Subsequently, we will be adding.Plasma uses a protocol-managed paymaster to sponsor gas for USD₮ transfers, removing the need for native tokens and enabling seamless, frictionless payments ideal for micropayments, remittances and global commerce.Only simple USD₮ transfers are gasless; all other transactions incur fees paid in XPL to validators, preserving strong network economics and validator incentives.Validator nodes participate in consensus and are currently operated by the Plasma team as part of our progressive decentralization.
Non-validator nodes follow the chain and serve RPC requests without joining consensus, enabling a small validator set and unlimited RPC scaling.Yes, during the testnet phase you need to contact our team before deploying non-validator nodes. We require operators to submit their details through our contact form first$XPL
This isn't permanent - it's specific to the testnet phase while Plasma is evolving rapidly.$XPL @Plasma #plasma
