Stablecoins have entered the trillion-dollar market. By the end of 2025, the total global supply of stablecoins will exceed $275 billion, with monthly trading volumes often reaching trillions. However, the problems are also quite evident—the existing public chain infrastructure still faces bottlenecks.

Ethereum's Gas fees remain high, platforms like Tron often have trust issues, and cross-chain compatibility is a mess. These pain points have yet to be thoroughly addressed.

So, the idea behind Plasma (XPL), this new chain, is quite interesting. It doesn't insist on becoming an "all-in-one public chain," but instead focuses pragmatically on a single domain—stablecoin payments. This positioning itself is very clear.

The project's three main selling points also directly address these pain points. Zero-fee transfers, which directly solve the Gas fee issue. Bitcoin-level security models, solving trust problems. EVM full compatibility, allowing developers to quickly migrate ecosystems. In just a few months since launch, it has attracted considerable attention, indicating that this approach truly meets market demand.

However, it should be noted that whether this path can truly succeed depends on subsequent ecosystem development and whether trading volume can grow effectively. Although demand exists in the stablecoin sector, competition is also intensifying. Whether XPL can establish enough network effects and user stickiness is the key to its long-term value. Of course, from a technical architecture perspective, its approach is indeed more focused than those public chains trying to do everything, which is a significant advantage in the current environment.