Name: Plasma
Brand: Plasma
SKU: XPL
Price: 0.43 USD
Availability: InStock

Question 1

What is Plasma (XPL)?

Accepted Answer

Plasma (XPL) is a layer 1 blockchain designed specifically for stablecoins and built to serve as the infrastructure for a new global financial system. It focuses on fast, fee-free USD₮ stablecoin transfers and custom gas tokens, enabling permissionless access to financial services worldwide. Plasma aims to be the native blockchain for global stablecoin payments, supporting high throughput, scalability, and institutional-grade security.

Question 2

What differentiates Plasma (XPL) from other tokens?

Accepted Answer

Plasma (XPL) is uniquely differentiated by its stablecoin-centric design that optimizes for high-volume, low-cost stablecoin payments from the ground up. Unlike general-purpose blockchains adapted for stablecoins, Plasma offers zero-fee USD₮ transfers and native support for custom gas tokens to optimize transaction costs. It provides confidential payments and launches with deep liquidity exceeding $1 billion USD₮. Plasma also includes a trust-minimized native bridge for Bitcoin (BTC), enabling direct BTC integration without centralized custodians. Additionally, its comprehensive stablecoin infrastructure integrates card issuance, global on/off ramps, and compliance tooling, creating a complete ecosystem tailored to stablecoin applications.

Question 3

What is the utility of Plasma (XPL)?

Accepted Answer

The utility of Plasma's native token, XPL, lies in securing the network, paying transaction fees beyond gasless USD₮ transfers, and incentivizing validators through a proof-of-stake consensus mechanism. Validators stake XPL to produce blocks and validate transactions, earning rewards and helping maintain network security. XPL balances enabling frictionless stablecoin payments with sustaining robust economics for the blockchain. Developers also use XPL for gas in deploying applications, and the token plays a role in future governance and staking initiatives, acting as the security backbone and value anchor of the Plasma ecosystem.

Question 4

What does the Plasma (XPL) whitepaper promise?

Accepted Answer

The Plasma (XPL) whitepaper promises a purpose-built blockchain optimized for stablecoins, featuring zero-fee USD₮ transfers, custom gas tokens, and confidential payments to enhance speed, cost efficiency, and privacy. It commits to high throughput and scalability for global payment volumes, launching with deep liquidity to foster developer adoption. The protocol is EVM compatible, integrates stablecoin-specific infrastructure like card issuance and compliance, and includes a native Bitcoin bridge for trust-minimized BTC movement. Economically, it supports a proof-of-stake consensus with rewards and staking via its native XPL token, aiming to create a sustainable, scalable infrastructure tailored to the demands of digital money and global stablecoin payments.

Question 5

What consensus mechanism does Plasma (XPL) use?

Accepted Answer

Plasma (XPL) uses a proof-of-stake consensus mechanism secured by PlasmaBFT, a variant of the HotStuff consensus algorithm. This approach provides Byzantine fault tolerance with low-latency finality, ensuring fast and reliable transaction settlement in a high-volume environment. Validators stake XPL tokens to participate in block production and transaction verification, receiving rewards while misbehaving validators lose rewards but not their staked capital, balancing security and risk. For more details, see PlasmaBFT consensus and the proof-of-stake model explained there.

Question 6

Who created Plasma and why?

Accepted Answer

Plasma was created to build a specialized, high-performance layer 1 blockchain optimized specifically for stablecoin payments. Its purpose is to address the growing role of digital dollars in the global economy by providing near-instant, zero-fee USD₮ transfers, custom gas tokens, confidential payments, and institutional-grade security designed for stablecoins from the ground up. This focus aims to facilitate permissionless access to financial services globally, making stablecoin transfers fast, inexpensive, and private while supporting a broad range of payment-oriented applications. The project is backed by prominent entities such as Bitfinex, Founders Fund, and others. The goal is to create a global stablecoin infrastructure for a new financial system. Further reading is available at Plasma's official site and the educational blog on Bitfinex.

Question 7

When was the Plasma (XPL) token created?

Accepted Answer

The documents do not specify the exact date or year when the Plasma (XPL) token was created, so this information cannot be provided based on the available sources.

Question 8

How do I use the Plasma (XPL) token?

Accepted Answer

The Plasma (XPL) token serves multiple roles within its blockchain ecosystem. It is used for paying transaction fees on the network, securing the blockchain through staking by validators, and incentivizing network participants. While Plasma supports zero-fee USD₮ stablecoin transfers sponsored by a protocol-level paymaster, other transactions require XPL for gas fees. Validators stake XPL to participate in consensus and earn rewards. Additionally, XPL tokens are distributed to ecosystem initiatives, the team, and investors with vesting schedules to promote long-term network health. Developers building on the Plasma network use XPL for gas unless they choose custom gas token options. To acquire XPL, users can trade cryptocurrencies or fiat on exchanges like Bitfinex after depositing funds. Overall, XPL is essential for governance, security, and economic incentives within the Plasma ecosystem. See the detailed tokenomics and usage guide at Bitfinex's Plasma blog and Plasma documentation.

Question 9

Where do I buy the Plasma (XPL) token?

Accepted Answer

Plasma can be bought on the SwissBorg app with just a few clicks. Download the app for Android or iOS and exchange cryptos instantly at the best price.

Question 10

Where do I buy the Plasma (XPL) token?

Accepted Answer

You can buy the Plasma (XPL) token on the Bitfinex exchange by creating an account there. Deposit cryptocurrencies or fiat into your Bitfinex wallet, then trade these funds for XPL. For crypto deposits, generate a deposit address in your Bitfinex Exchange wallet and transfer the crypto. For fiat deposits, ensure your Bitfinex account is fully verified and deposit via bank wire. More details can be found on Bitfinex's platform and guides.

Question 11

What problem or need does Plasma aim to address?

Accepted Answer

Plasma (XPL) addresses the growing need for a blockchain infrastructure specifically built for stablecoins and global digital dollar payments. Unlike networks adapted for stablecoins as an afterthought, Plasma is purpose-built to support high-volume, low-cost, near-instant stablecoin transactions with zero-fee USD₮ transfers and custom gas tokens. This design tackles the problems of slow, costly, and less private stablecoin transfers on existing blockchains, enabling permissionless access to financial services worldwide with institutional-grade security.

Question 12

Is the Plasma (XPL) open-source, and can I review its code?

Accepted Answer

Yes, Plasma is an open-source project. Its execution layer is powered by Reth, an Ethereum-compatible client written in Rust, enabling developers to deploy applications using familiar EVM tools such as Foundry, Hardhat, and MetaMask. The Plasma network leverages the PlasmaBFT consensus algorithm, a variant of HotStuff, and incorporates transparent protocol mechanisms for stablecoin-native features. You can review the Plasma documentation and whitepaper for detailed technical insights and open-source resources.

Question 13

How was the Plasma (XPL) token generated?

Accepted Answer

The Plasma (XPL) token was generated as the native asset for the Plasma blockchain to serve its economic and security model. It has a total supply of 10 billion XPL, allocated across public sale participants, the team, investors, and ecosystem initiatives with predetermined lockup and vesting schedules. Token issuance includes controlled inflation for validator rewards starting at 5% annually and tapering to 3%, combined with EIP-1559-style fee burning to manage supply over time. XPL is a Proof-of-Stake token used for staking, staking rewards, transaction fees beyond gasless USD₮ transfers, and network governance.

Question 14

What is the Plasma (XPL) transaction speed and scalability?

Accepted Answer

Plasma (XPL) is a high-performance layer 1 blockchain built specifically to handle stablecoin payments with high throughput and scalability. It supports over 1000 transactions per second and has block times under 1 second, enabling near-instant payments. This makes Plasma capable of scaling efficiently for large transaction volumes and global payments, all while maintaining speed and reliability essential for stablecoins.

Question 15

Is Plasma (XPL) environmentally friendly in terms of energy consumption?

Accepted Answer

The supporting documents do not provide specific information on Plasma's (XPL) environmental impact or its energy consumption profile. Therefore, no conclusion can be drawn about its environmental friendliness based on the given information.

Question 16

What is the governance model for Plasma (XPL)?

Accepted Answer

Plasma (XPL) uses a proof-of-stake (PoS) consensus mechanism secured by PlasmaBFT, a variant of HotStuff providing Byzantine fault tolerance with low-latency finality. Validators stake XPL tokens to participate in block production and transaction verification, earning rewards through controlled inflation. Misbehaving validators are penalized by losing rewards rather than staked capital. Over time, Plasma plans to enable delegation for token holders to broaden validator participation. The XPL token underpins this governance and economic security model by incentivizing validators and supporting staking, rewarding, and fee payments beyond gasless USD₮ transfers.

Question 17

What are the long-term goals and vision for Plasma?

Accepted Answer

Plasma's long-term vision is to build a purpose-built layer 1 blockchain infrastructure for a new global financial system centered on stablecoins. It aims to provide zero-fee, near-instant USD₮ stablecoin payments with institutional-grade security and global scalability. Plasma seeks to realize permissionless access to financial services everywhere by integrating features such as custom gas tokens, confidential payments, a native Bitcoin bridge, and comprehensive stablecoin tools including card issuance, on/off ramps, orchestration, and compliance. The overall goal is to become the native chain for stablecoin payments worldwide, enabling digital money to move efficiently and securely at scale.

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What is Plasma (XPL)?

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Plasma Price

Top up and invest in seconds!

Market Stats

What is Plasma (XPL)?

What differentiates Plasma (XPL) from other tokens?

What is the utility of Plasma (XPL)?

What does the Plasma (XPL) whitepaper promise?

What consensus mechanism does Plasma (XPL) use?

Who created Plasma and why?

When was the Plasma (XPL) token created?

How do I use the Plasma (XPL) token?

Where do I buy the Plasma (XPL) token?

Where do I buy the Plasma (XPL) token?

What problem or need does Plasma aim to address?

Is the Plasma (XPL) open-source, and can I review its code?

How was the Plasma (XPL) token generated?

What is the Plasma (XPL) transaction speed and scalability?

Is Plasma (XPL) environmentally friendly in terms of energy consumption?

What is the governance model for Plasma (XPL)?

What are the long-term goals and vision for Plasma?

Technical Analysis

Exclusive tools

Automate your investment today!

Receive notifications when Plasma reaches certain prices.

Begin your Borger Journey today with the SwissBorg app!

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