What is XPL coin (Plasma)?

Source: BTCHaber Original Title: What is XPL coin (Plasma)? Original Link: https://www.btchaber.com/xpl-coin-plasma-nedir/

Introduction to XPL Coin and Plasma Ecosystem

XPL coin is the cryptocurrency of the Plasma ecosystem. Plasma is an EVM-compatible Layer 1 blockchain developed for global stablecoin transfers. Its core goal is to meet the scalability, speed, and security needs required by stablecoins.

As a Layer 1 blockchain, Plasma operates on its own blockchain. This blockchain is optimized for high transaction volumes and low fees. With EVM (Ethereum Virtual Machine) compatibility, developers can utilize familiar programming languages like Solidity and other EVM-compatible tools.

Creator of Plasma

Plasma was created by Paul Faecks and Christian Angermayer in 2024.

How to use Plasma

To use Plasma, you first need to connect your crypto wallet to the Plasma network. Due to its EVM compatibility, this process is quite simple for users accustomed to using other EVM-compatible chains. After connecting the wallet, you can configure it through the wallet's network settings.

Plasma aims to provide free USDT transfers for suitable transactions. The network employs a special transfer management system that automatically covers the gas fees. This way, users can perform more efficient, faster, and ideally free stablecoin transfers using existing digital wallets. Developers can leverage Plasma to create these stablecoin-centric transfer systems.

The Role of XPL Coin

XPL coin is the native token of Plasma. It is responsible for safeguarding the network's security and plays an important role in the basic economic and operational processes. Transaction fees, smart contract deployment, and the transfers required for computational operations are all conducted through XPL.

To ensure network security, Plasma uses the PlasmaBFT consensus mechanism. Users who wish to contribute to this consensus need to use XPL to stake validation nodes. In return for staking XPL, users will receive various rewards.

The total supply of this cryptocurrency is 10 billion XPL, allocated as follows:

• Ecosystem and Development: 40%
• Team: 25%
• Investor: 25%
• Public Sale: 10%

How to Buy XPL

To purchase XPL coin, you first need to create an account on a cryptocurrency exchange. You also need to complete the identity verification process for your account. When purchasing, your wallet must have a balance. If there is no balance, you can choose payment methods such as bank transfer or credit card. After updating the balance, you can purchase the desired amount of assets.

Purchase Steps

The steps to purchase XPL coin through the exchange are as follows:

• At the top of the exchange homepage, click on the “Buy/Sell” or “Market” option. Then enter XPL in the search bar and proceed to purchase.
• On the buy/sell page, click the “Buy” button to start trading. If you do not have an existing account, you need to create one; if you have an account, you need to log in.
• Enter the amount you decide to purchase (in local fiat currency) and continue the transaction. After deciding on the deposit amount, confirm the transaction. The exchange will automatically check the account balance. If the balance is sufficient, the transaction will be completed. If the balance is insufficient, you can use the recharge option to load the required amount.
• In the final step, click the “Buy” button to confirm the transaction again. The cryptocurrency purchase will be processed immediately, and the purchased cryptocurrency will be transferred to your account shortly thereafter.

Disclaimer: This article does not contain investment advice or recommendations. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.