Vitalik Buterin has previously supported @Plasma because this is one of the early solutions to scale Ethereum by processing transactions off-chain, helping to reduce the load on the mainnet and increase throughput.
Plasma is highly regarded theoretically, with a security model inherited from the original Ethereum; projects like OMG Network have implemented Plasma for large-scale payment processing.
However, in practice, Plasma reveals many limitations. Users have to wait a long asset withdrawal time (which can take up to a week), a complex process, and the risk of a "mass exit" in case of issues.
Additionally, Plasma has difficulty supporting DeFi applications due to poor compatibility with general smart contracts.
As new Layer 2 solutions like Optimistic Rollup and ZK-Rollup emerge, they allow for the deployment of DeFi and NFTs with an experience almost like the mainnet. Therefore, the Ethereum community gradually abandons Plasma to move toward more effective and practical approaches.
