#Plasma refers to two main concepts in blockchain:Original Plasma (2017): A Layer-2 scaling framework proposed by Vitalik Buterin & Joseph Poon for Ethereum. It uses "child chains" (sidechains) anchored to Ethereum mainnet to process transactions off-chain, enabling massive throughput while relying on fraud proofs for security. Most data stays off-chain; only periodic commitments go to Ethereum. It struggled with mass exits, data availability, and UX, so rollups largely replaced it. Some projects (e.g., early Polygon) drew inspiration from it.
Modern Plasma (2025+ Layer-1 chain): A high-performance, EVM-compatible L1 blockchain (plasma.to) optimized for stablecoin payments (esp. USDT). Features include:Zero-fee USDT transfers via protocol paymaster
Thousands of TPS with sub-second finality (PlasmaBFT consensus)
Native $XRP XPL token for staking, fees (non-USDT txs), and governance Trust-minimized BTC bridge for pBTC in DeFi
Launched mainnet beta ~Sep 2025; quickly reached billions in TVL/liquidity
In short: Classic Plasma = Ethereum scaling idea (mostly historical). Current Plasma = fast stablecoin-focused L1 chain competing in payments/DeFi space.
