Recently, @zama's 'blame summary' has gone viral in the community. I've read it for everyone, and it’s filled with: 'It's not that I won't pull the market, it's that you don't understand art.'
In summary, it's just a few sentences: the decline is due to poor performance in the U.S. stock market, and the lack of upward movement is because of a desire for 'fair distribution.' If you only look at K-lines and not at TVS, then you lack vision. This kind of rhetoric that packages losses as 'advancing human privacy civilization' is just something to listen to casually. The crypto world doesn't need poets who can only draw big pies; what it needs are 'STEM guys' who can keep the accounts clear and implement the technology.
🛡️ The 'wall breaker' of stablecoin payments: Plasma ($XPL )
After discussing the ethereal narrative, let's talk about something hardcore. Recently, there’s a project called @Plasma in the payment track that is very popular, claiming to fight a 'transparent defense battle.' In the frequently occurring 'black box moment' of stablecoin payments, can it succeed?
1. Reject 'blind box' payments, tear down that black wall.
In current stablecoin transfers, both users and merchants are actually playing a 'trust game.' You pay money, but what nodes does it pass through? Have the rules been temporarily altered? No one knows.
Plasma's idea is very simple: dismantle the black box and replace it with a transparent glass house. Payments should not be a 'tycoon-style' promise (you pay, and leave the rest to me), but rather every step should be verifiable. Only by transforming the transfer logic from 'backend operations' to 'on-chain consensus' can everyone dare to put in large funds.
2. While the backing is stable, how to establish the 'foundation' is key?
Plasma chose the strongest backing - Bitcoin. Using BTC as a security anchor is indeed smart; it's like building a house on Mount Everest, providing a full sense of security.
But as seasoned investors, we need to ask a deeper question:
* Dependency issues: If the BTC network is congested, how can Plasma ensure the flow efficiency?
* Path tracking: How does money flow from the underlying logic of BTC to the payment terminal?
If this mapping relationship cannot achieve 100% transparency, the so-called 'top-level security' is just a castle in the air.
3. Unveiling 'zero fees': What is behind the free lunch?
$XPL The zero-fee promotion is indeed attractive, but it is also the most concerning. After all, there are costs associated with the underlying operations; 'powering with love' won't last three days in Web3.
We need Plasma to clearly explain its 'hidden menu':
* Is it profiting from slippage?
* Or is it about digging into the value of data?
* Or is it hedging gas costs through some unique technical architecture?
Only by revealing these commercial bottom cards can developers and merchants truly feel safe to enter.
💡 Summary and thoughts
Compared to those projects that talk a lot about 'patterns' but are in decline, I am more optimistic about Plasma, which dares to expose itself in the sunlight with a 'scientific and engineering' style. The payment track does not need to be flashy; clear accounts, transparent costs, and clear dependencies are what a killer application should look like.
What do you think, is it more important for payment projects to have a 'strong background' or to have 'clear accounts'? Let's discuss your views in the comments! 👇