The whole internet is praising Layer2 scaling, but I actually think that L1s like Plasma, which specialize in stablecoins, are the ultimate destination for stablecoins.
Recently, messing around with stablecoins on-chain, Ethereum gas fees can easily reach dozens of dollars, which is frustrating. Switching to Tron, not holding TRX still feels like a dull knife cutting flesh, the more you use it, the worse it feels.
Looking back at Plasma, I finally appreciate its value. I used to think that its claim of zero fees was just charity, but now I understand that it's a precise dimensionality reduction strike. Its most powerful feature is the Paymaster mechanism, which directly abstracts away gas fees at the protocol layer. On EVM chains, we always need to leave some ETH for transaction fees, but on Plasma, transferring USDT directly deducts USDT, or allows the project or application side to cover the fees, which is an absolute necessity for ordinary users in cross-border payments and daily consumption.
Compared to Solana, Solana is fast, but it frequently crashes; who dares to use it with peace of mind? Plasma focuses on high-concurrency settlement for stablecoins, and its consensus mechanism clearly aims for financial-grade settlement, which is much more stable.
Some may ask, with no gas fees, what is the value of the native coin $XPL? I think XPL is more like the equity of this financial highway. Nodes must stake XPL to protect the network, and B-end institutions must stake XPL to access the payment network, making it the only ticket. Currently, the coin price is hovering around $0.1, which simply means that the market is not favoring the payment track right now.
But as long as Tether massively mints native USDT on Plasma, once liquidity flows in, this valuation gap will be directly filled. I bet it can take market share away from Tron; when that happens, at this price, it will be a regretful situation.
