Plasma is a Layer 1 blockchain purpose built for one clear and focused goal: efficient and reliable stablecoin settlement. Unlike general purpose blockchains which seek to address every use case under the sun, Plasma is optimized around the needs of stablecoins as instruments of payment and settlement.
This reflects the increasingly important role which stablecoins are playing in worldwide payments remittances and financial infrastructure. At the execution layer, Plasma provides full EVM compatibility via Reth whereby developers can deploy Ethereum based smart contracts without any need for modification.
This is coupled with sub second finality powered by PlasmaBFT a versatile proof of stake consensus algorithm that allows for fast and consistently low time to finality. For real-world payments and high throughput settlement fast finality is essential in that it reduces settlement risk and increases transaction certainty for both users and institutions.
The idea of the design of the Plasma network is to have the user interact with the stablecoins. This includes the gasless USDT transfers as well as the use of the first gas for the users where the users do not have to worry about paying the costs with the use of the native tokens.
It also strives to achieve security through the implementation of the Bitcoin anchored model to ensure the promotion of neutrality as well as the resistance of censorship. Plasma targets to serve the interests of two primary customers: individuals in high stable countries as well as institutions engaged in the payment as well as the financial services sector. By aligning the relevant interests of the users to the actual interests of the customers Plasma seeks to position itself as the actual settlement demand as opposed to being perceived as experimentation.
