The new Tether Blockchain is in plasma, zero transactions, and this year is expected to be launched

Tether, pioneering stablecoin, controls 70 % of the market and achieved $ 13.7 billion of profits last year. To take advantage of this, Paul Fix, co -founder of the plasma, developed Blockchain specifically for the card, with the aim of providing zero rope transactions and attracting Stablecoin users.

Plasma to launch Blockchain paper

The plasma is designed to be Sidechain on Bitcoin Blockchain, with a perfect compatibility with the ETHEREUM virtual system (EVM), which occupies a lot of decentralized financing. The team aims to solve problems such as high fees and expansion issues facing Stablecoins on other Blockchains, using Bitcoin safety and enabling zero USDT transactions.

Plasma plans to launch Blockchain specially designed for the state in the Q2 of this year, led by Framework Ventures. Blockchain in plasma will provide zero USDT transactions.

Plasma was raised $ 24 million in the financing round

On Thursday, the company revealed that it raised $ 24 million in the initial financing round. The investment was led by Framework Ventures, with support from Crypto Excination BitFinex, Better Bittal Investment Capitalist, and CEO of Tether Paulo Erdino. Financing, led by Framework Ventures, will help the launch of Testnet and Mainnet in the plasma, and support its expansion in transfers, payments and Defi applications.

It is worth noting that the investment comes after a $ 4 million tour backed by the first supporters, including BitFinex, CEO of Tether Paolo Ardoino, PEER Thiel, Crypto Cobie and Zaheer Ebtikar dealers.

Tether is available on Blockchains such as Solana, Tron, Polkadot and Bitcoin via OMNI layer, adding additional capabilities. However, Paul Fix explained that plasma makes transactions faster and affordable by focusing only on stablecoins. By removing features such as NFT trade, mechanics, air and decentralized vote, plasma can deal more efficiently with the large size of Stablecoin’s transactions, he indicated.

Stablecoins, dominant power

Recently, Stablecoins has taken the world of encryption from the storm, exceeding $ 220 billion in the offer and has become a daily payment and savings. While Bitcoin is the tallest Blockchain that it runs, most Stablecoin activity occurs on newer chains such as ETHEREUM, TON and Solana.

“Stablecoins is the clear winner of Blockchain adoption, however they are treated as second -class citizens in the current Blockchains,” Paul Fix, founder and chief executive of the plasma, commented in a statement. “By taking advantage of Bitcoin as a basis, the USDT transfers, along with the purpose -built ecosystem and infrastructure of Stablecoins with deep liquidity, creates a safer and more developmental plasma and effective in the market.”