- An Emerging Era for Blockchain Technology
Recently, INTMAX launched Plasma Free, an innovative project headed by well-known Web3 builders. The goal of this new project is to meet the increasing needs of developers across the globe by improving the programmability and flexibility of blockchain applications. As the first Plasma protocol that is compatible with the EVM, Plasma Free establishes a new benchmark for blockchain technology.
Creative Development and Leadership
This project is being led by INTMAX, which is known for its cutting-edge L2 zkRollup architecture, with noteworthy contributions from pioneers in the industry. The co-founder of Latamex and Settle Network will oversee Plasma Free’s open-source development, the platform has announced. The Y-Combinator founder, Jack Saracco, is also instrumental in the project’s advancement.
Before founding Settle Network, Jack Saracco had founded Latamex, the biggest fiat gateway in Latin America. Settle Network is well-known in the area for promoting a comprehensive agenda in digital asset settlement, which makes cross-border payments and swaps easier. The CEO and co-founder of INTMAX, Leona Hioki, has highlighted the importance of this initiative and stated that having such renowned Web3 builders involved is expected to have a revolutionary effect.
Technological Developments and Historical Context
Developed by Vitalik Buterin and Joseph Poon in 2017, Plasma was a prominent Ethereum L2 scaling protocol that sought to reach Visa-level transaction volumes inside the Ethereum network. Significant scalability advantages are possible with plasma networks since all data and computation—aside from Merkle roots, withdrawals, and deposits—remain off-chain.
But finally, because of issues with internet requirements and user experience, Rollups outperformed Plasma. In spite of this, Vitalik Buterin has stated in a recent blog post that he plans to revisit Plasma. By combining the advantages of Plasma and zkRollups, INTMAX improves security and scalability while offering the highest level of privacy possible in transfer processing. Plasma Free preserves EVM compatibility while facilitating quick transfers via sidechains.
Assisting the blockchain community and developer ecosystem
With Plasma Free, you can write more programmable blockchain applications that allow intricate interactions with smart contracts and maintain transaction security. Thanks to this advancement, developers may quickly and simply use well-known tools to install DApps and smart contracts on Plasma Free sidechains. Compared to other chains, they can benefit from faster processing times and less transaction costs.
According to INTMAX, Plasma Free will greatly strengthen the developer environment and promote the expansion of the larger blockchain community. By offering a platform that enhances security and scalability, INTMAX hopes to facilitate a flourishing international tokenized asset market that is open to investors all over the world.
In conclusion, INTMAX’s launch of Plasma Free marks a major advancement in the field of blockchain technology. By adding cutting-edge capabilities and resolving the shortcomings of earlier protocols, Plasma Free aims to empower developers and improve the state of blockchain technology as a whole. This project opens the door for creative applications and smooth integration into the blockchain ecosystem in addition to reducing entrance barriers.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
