Crypto Start-up Plasma revealed technical characteristics of the Stablecoin-specific blockchain, promising fast and efficient global stablecoin transfers by using a “hot stuff-inspired” consensus mechanism.
The Hotstuff -Consensus is an example of Byzantine fault tolerance (BFT) for block chains that makes consensus possible, even when some nodes are defective or malignant. Imagine a group of friends who plant a picnic that must agree on a date, location and duration. If the majority agrees, they can successfully continue and at the same time bypass potential disturbances of some unreliable friends.
The Hotstuff Blockchain consensus mechanism continues this by allowing seamless leadership replacement if the decision maker or the piping node behaves irregularly, reducing delays and efficiency is improved.
In addition, every node sends several back and forth confirmations in traditional BFT systems, which causes delays. The Hotstuff mechanism streamlines the process in which a piping node proposes a decision and confirm validator nodes in a single step.
“In the core, plasma uses PlasMabft, a fast hot stuff -inspired consensus protocol optimized for fast finality and low latency, to support high -frequency global stablecoin transfers,” Plasma announced to X.
Finality in blockchain means the speed at which transactions are confirmed and added to blocks, after which they become irreversible. In the meantime, low latency refers to the speed when processing transactions.
The Blockchain from Plasma is specially built for Tether, the world’s largest dollar-pegged Stablecoin with a market capitalization of $ 144 billion. Tether accounts for more than 60% of the total Stabilecoin market, according to Data Source Coingecko, and the E -tent made $ 13.7 billion in profit last year. The early financiers of the project include prominent industrial names such as venture capitalist Peter Thiel, CEO of Tether Paolo Ardoinino and the Zaheer Ebtikar of Split Capital.
Plasma is designed as a Bitcoin -Zijzijdsstroom with full compatibility with the Ethereum Virtual Machines (EVM). Most Stablecoin activity takes place on smart contract block chains such as Ethereum, Tron and Solana.
The version layer of Plasma is built on Rust Ethereum, also known as Reth, a modular engine that is compatible with the EVM, so that plasma can perform any smart contract from Ethereum.
The Stablecoin project also has a built-in Bitcoin bridge that uses the same group of decentralized validators as the BFT mechanism and periodically links to updates on the Bitcoin blockchain. This allows Ethereum applications to work easily with Bitcoin, with the help of the latter as the settlement layer.
“By periodically anchoring, differs of the situation on Bitcoin, plasma achieves seamless interoperability and uses Bitcoin as a settlement layer – delivering finality -free finality, stronger censure resistance and a universally verifiable source of truth,” Plasma said.
Steven Lubka, head of Swan Bitcoin, said that the new Stablecoin infrastructure seems to be “betting on the dissertation that other block chains are only good for Stablecoins and that they should be inherited Bitcoin security.”
Other important characteristics of plasma are adapted gas socks, so that reimbursement payments in USDT or BTC can be permitted, zero-load USDT transfers and confidential transactions while compliance is guaranteed.
