Plasma Blockchain (XPL)

Plasma is an EVM-compatible L1 blockchain network that was purpose-built for the $220B stablecoin market. It aims to replace the centralized, high-cost L1 networks, such as the Tron chain, by offering increased network scalability, deeper liquidity, and security. 

It is built as a Bitcoin side chain, aiming for high transaction throughput capacity and security, processing transactions via the Bitcoin mainnet. At the same time, Plasma’s full EVM compatibility ensures seamless access for any Ethereum developer to the network, making it easier to build new dApps or integrate the network into existing applications. 

The key feature of the blockchain Plasma is set to be zero fees for $USDT transactions, eliminating the need for maintaining additional funds in the wallet to cover transactions. This way, Plasma network aims to achieve an improved on-chain user experience and facilitate mass adoption of the stablecoins, while establishing itself as a leader in the niche. 

🪙 Plasma token: Plasma’s native token is $XPL. It powers the network’s consensus mechanism, secures the Bitcoin bridge, and is used for transaction fees, staking/validating, governance, grants, and user incentivization programs.

Considering this info, the CoinLaunch team collected all publicly available information about the Plasma blockchain and found some of its pros and cons:

✅ Plasma pros:

• Interesting concept of the product;
• Good PR score;
• Above the average SEO, SMM, and Marketing Infrastructure;
• Powerful Influencer Marketing; 
• Decent network of backers;
• Tether and Bitfinex are the backers and close partners of the project. Also, according to some rumors, the key figures in the current US government also have a share in the project..

❌ Plasma cons:

• Most of the core team members don’t have work experience in the top-tier crypto companies.