Plasm Network is a scalable smart contract platform on Polkadot supporting cutting edge layer 2 solutions. It is built on Substrate and designed to be a Polkadot Parachain. Plasm Network aims to make Ethereum 2.0 on Polkadot.
Plasm Network focuses on making the best smart contract platform so that dApps developers on Polkadot do not need to pay much attention to infrastructure and can focus more on their dApp. Ideally, the developers can build whatever applications on Plasm Network without having to consider its scalability. Plasm Network solves prominent issues: scalability and interoperability.
Blockchains do not scale by design because of the decentralized consensus mechanism. TPS (Transaction Per Second) is much smaller than a centralized database and there is an upper limitation of data that can be stored in every block. Therefore, users across the network may notice their transactions sit unconfirmed or pending for long periods of time, creating a poor user experience.
Scalability on the Plasm Network is addressing the followings topics:
More Transaction Per Second (TPS)
Cheaper transaction cost
Many different blockchains exist but few have interoperability as a feature. To move "value" from Bitcoin to Ethereum, we need a centralized exchange. Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.
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