The Plasma Project | The "Current" Layer 1 Protocol | The
The modern Plasma is a Layer 1 Blockchain, specifically designed to be a global “payment rail” for stablecoins. Its main aim is to facilitate the ease of transfer and efficiency in sending digital dollars (like USDT) as easily as an email.
This is how it works:
**Stablecoin-First Design:** Unlike "full-featured" blockchain systems (Ethereum, Solana), Plasma is a system geared specifically toward stablecoins, where there are zero-fee USDT transactions at the protocol
Plasma BFT: For its consensus, it leverages a faster version of Byzantine Fault Tolerance (BFT), which, in its normal form, can process transactions in less than a second, which is important in retail transactions.
The "Paymaster" System: Plasma has a native gas abstraction layer, which means that users don’t need to use a native token such as XPL to move a token such as USD T, as the fee can be sponsored by the network/dapp itself, or paid at a stable currency fee.
Bitcoin Security Integration
It functions as a sidechain for Bitcoin. In other words, its state is "anchored" to the main Bitcoin chain periodically.
