What is XPL coin (Plasma)?

Source: BTCHaber Original Title: What is XPL coin (Plasma)? Original Link: XPL coin is the cryptocurrency of the Plasma ecosystem. Plasma is an EVM-compatible layer 1 blockchain developed for global stablecoin transfers. Its focus is to meet the scaling, speed, and reliability needs required by stablecoins.

As a layer 1 blockchain, Plasma operates on its own blockchain. This blockchain has also been developed focusing on high volume and low fees. With EVM compatibility, developers can benefit from well-known languages like Solidity, as well as other EVM-compatible tools.

Who is the founder of Plasma?

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

How to use Plasma?

To use Plasma, you first need to connect your cryptocurrency wallet to the Plasma network. Since it is EVM compatible, it has a fairly simple process for those who are accustomed to using other EVM compatible chains. After connecting the wallet, you can also make additions by going to your wallet's network settings.

Free USDT transfers are also aimed at providing suitable transactions. The network operates on a special transfer management system that automatically covers gas fees. This way, the goal is to make your stablecoin transfers more efficient, faster, and free of charge whenever possible using your existing digital wallet. Developers can create these stablecoin-focused transfer systems using Plasma.

What is XPL coin?

XPL coin is the cryptocurrency of Plasma. It is responsible for securing the network. It also plays an important role in fundamental economic and operational processes. This means that transaction fees, the distribution of smart contracts, and the transfers required for computation processes are provided by XPL.

PlasmaBFT consensus is used to ensure the security of the network. Users who want to contribute to this consensus must perform validator staking using XPL. In return for staking XPL, they earn various rewards.

The distribution of the cryptocurrency with a total supply of 10 billion XPL is as follows:

• Ecosystem and development: 40 percent
• Team: 25 percent
• Investors: Twenty-five percent
• Public sale: 10 percent

Where to buy XPL?

To buy XPL coin, you first need to create an account on a cryptocurrency exchange. You also need to complete the identity verification process for the account you created. During the purchase process, you must have a balance in your wallet. If you don't have a balance, you can prefer payment methods like bank transfer or credit card. After updating your balance, you can buy the desired amount of assets.

How to buy XPL coin?

To purchase XPL coin through a cryptocurrency exchange, simply follow the steps below:

• On the homepage, you can click on the “Buy/Sell” or “Markets” option at the top of the screen. After this process, you can proceed to make a purchase by typing XPL in the search section.
• You can start your transaction by clicking the “Buy” button on the Buy/Sell page. If you do not have an existing account at this step, you will need to create an account; if you do, you will need to log in.
• You can continue the transaction by entering the amount of Turkish lira you have determined for the purchase. After deciding on the amount you wish to deposit, you can confirm the transaction. The exchange automatically checks your account balance. Thus, it completes your transaction when the balance is sufficient. If your balance is insufficient, you can load the desired amount of balance by selecting the option to deposit TL.
• In the final step, you need to click the “Buy” button once again to confirm the transaction. Your cryptocurrency purchase will be processed immediately, and the cryptocurrencies you purchased will be credited to your account shortly.

This article does not contain investment advice or recommendations. Every investment and trading action carries risk, and readers should conduct their own research when making decisions.