In the current crypto market, the battle for Layer 1 public chains has entered a critical stage. However, after taking a look around, most public chains are competing over user numbers in DeFi and NFTs, while overlooking the most promising and largest-scale scenario in blockchain—stablecoin payment and settlement.

This pain point is actually very real. On-chain transfer demands for USDT and USDC are growing wildly, Ethereum often gets congested to the point of chaos, and Solana occasionally encounters issues. Who can truly meet the needs of global payment-level transactions? The emergence of new-generation Layer 1 solutions like Plasma just fills this gap. As a public chain specifically designed for stablecoin settlement, its value proposition is straightforward: zero cost, high throughput, fast confirmation, making the payment experience as smooth as traditional finance.

From a technical perspective, it’s even more interesting. Plasma has made a clever choice—full EVM compatibility. This is not just a technical detail; it’s highly significant for developers. Existing Ethereum ecosystem applications, DeFi protocols, and even stablecoin-related smart contracts can be migrated directly without starting from scratch.

Looking at it from another angle: if a public chain can accommodate a large, mature application ecosystem like Ethereum and also achieve settlement speeds like Visa, how great could the combined effect be? This "both... and..." approach is precisely the core logic Plasma is trying to realize.