According to CoinDesk, crypto startup Plasma recently revealed the technical features of its stablecoin-specific blockchain, which uses a "HotStuff-inspired" consensus mechanism and promises to enable fast and efficient global stablecoin transfers.
HotStuff consensus is a Byzantine fault-tolerant (BFT) mechanism that allows the system to reach consensus even if some nodes fail or behave maliciously. Unlike traditional BFT systems where each node needs to confirm back and forth multiple times, the HotStuff mechanism simplifies the process by making decisions by leading nodes, verifying one-step confirmations by nodes, and allowing for seamless replacements when leading nodes behave abnormally, thus reducing latency and improving efficiency.
Plasma announced on social media X: "Plasma Core uses PlasmaBFT, a Fast HotStuff-based consensus protocol optimized for fast finality and low latency to support high-frequency global stablecoin transfers."
It is reported that the Plasma blockchain is designed for Tether, the world's largest dollar stablecoin with a market cap of $144 billion. The stablecoin accounts for more than 60% of the stablecoin market. Its issuer made a profit of $13.70 billion last year. Early backers of the project include venture capitalist Peter Thiel, Tether CEO Paolo Ardoino and Split Capital's Zaheer Ebtikar.
Peter Thiel-backed Plasma launches "HotStuff consensus" to enable high-frequency global stablecoin transfers
2025-03-26 06:27:33
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