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VISTORBELITUNG.COM,The term "Crypto Plasma" generally refers to two distinct concepts in the blockchain world, both related to scaling and efficiency.
1. Plasma: The Ethereum Scaling Solution
The most prominent concept of "Plasma" in the cryptocurrency space is a Layer-2 scaling framework originally designed for the Ethereum blockchain.
What is Ethereum Plasma?
Plasma is a technique that uses smart contracts and Merkle Trees to create a hierarchical structure of "child chains" (or side chains) that operate on top of the main Ethereum blockchain (Layer 1).
Goal: To drastically increase Ethereum's transaction throughput and reduce fees (scalability) by moving the bulk of transaction processing off the main chain.
How it Works: The child chains handle high-volume, quick transactions locally. They only periodically report their final "state" or settlement to the main Ethereum chain. The main chain acts as a secure "higher court" where users can exit their funds or appeal a wrongful transaction on the child chain using fraud proofs.
Status: While Plasma was highly influential and generated massive excitement around 2017-2018, its complexity, particularly the long "challenge period" required for safe withdrawals, has led many developers to focus on newer, more practical scaling solutions like Optimistic Rollups and ZK-Rollups.
Who Created Ethereum Plasma?
The Plasma framework was proposed in a whitepaper titled Plasma: Scalable Autonomous Smart Contracts in August 2017 by:
• Vitalik Buterin (Co-founder of Ethereum)
• Joseph Poon (Co-creator of the Bitcoin Lightning Network)
2. Plasma (XPL): The Stablecoin-Focused Layer 1 Blockchain
More recently, a project named Plasma has emerged as a distinct Layer 1 blockchain with a different core purpose and native token called XPL.
What is the Plasma (XPL) Blockchain?
This is a modern, independent blockchain built specifically for global stablecoin payments.
Goal: To make moving stablecoins (like USDT) cheaper, faster, and more private at a global scale.
Key Features: It focuses on high transaction throughput, fast finality, and features like zero-fee USDT transfers (funded by the protocol's paymaster system) for users. It is also an EVM-compatible chain, meaning developers can easily deploy smart contracts originally built for Ethereum.
The XPL Token: XPL is the native token of this Plasma network, used to pay transaction fees, secure the network through staking, and incentivize validators.
Who Created the Plasma (XPL) Blockchain?
This Layer 1 blockchain project was founded and is led by:
Paul Faecks (Founder and CEO)
The project has notably received backing from influential figures and organizations in the industry, including Bitfinex and Tether CEO Paolo Ardoino, reflecting its focus on stablecoin infrastructure.