Plasma Unveils Stablecoin Blockchain with Bitcoin Interoperability

Crypto startup Plasma has introduced its stablecoin-specific blockchain, designed for rapid global stablecoin transfers using a "HotStuff-inspired" consensus mechanism. Announced on X, Plasma leverages PlasmaBFT for fast finality and low latency, crucial for high-frequency transfers. The blockchain is tailored for Tether (USDT), which holds over 60% of the stablecoin market with a $144 billion market cap. Plasma is designed as a Bitcoin sidechain, fully compatible with the Ethereum Virtual Machine (EVM), and includes a built-in Bitcoin bridge, enabling Ethereum applications to interact with Bitcoin as a settlement layer. Key features include custom gas tokens, zero-charge USDT transfers, and confidential transactions. Plasma's early backers include Peter Thiel and Tether's CEO Paolo Ardoino.