Key Differentiators for Plasma (XPL)
1. Zero Fee Stablecoin Transactions
A key difference here is that, unlike Ethereum or even Solana, where one needs to have a balance of ETH or SOL, respectively, in one's wallet to pay for “gas,” Plasma employs a Paymaster system. This ensures that “network fees” for USDT transactions are paid by the network or a sponsor, thus providing a conventional fintech app experience, where one does not pay a “network fee” while sending funds.
2. Bitcoin-Level Security Anchoring
The plasma system ties its ledger to the Bitcoin blockchain. This is because the system requires "settlement assurance" like Bitcoin's security features without losing the speed and contract functions supported by the EVM environment.
3. Custom Gas Tokens
“Plasma allows users to pay transaction fees in the token that they are actually transferring, whether it be a stable coin or even bitcoin, so that they don’t have to hold the XPL token to be able to use their own funds,” he said.
4. The Role of the XPL Token
Even though stablecoin transactions can be gasless, the XPL token is the foundation for the ecosystem concerning
Staking: In order to validate, staking of XPL is required.
**Governance:** Upgrades to the protocol and the management of the treasury are voted on
Advanced Features: For transactions that are not stable coins, and for smart contracts, the fees are in XPL. @Plasma $XPL #Plasma