Plasm Network is a scalable smart contract platform supporting cutting edge layer2 solutions on Polkadot. If you would like to make DApps on Polkadot, you have 2 choices.
- Making a Parachain from scratch
- Deploying a DApp on a Parachain
Making a Parachain takes a lot of time and energies compared with making a DApp. (We know since we are making a Parachain). More importantly, the number of Polkadot Parachains is limited. Therefore, we are sure that many projects will choose the 2nd option.
When it comes to smart contracts and DApps, what is the most notable problem we face today? Yes, scalability. That’s why we are implementing layer2 scaling solutions on Plasm Network. In addition to layer2, we have an Ethereum compatibility. Plasm will support both WASM and EVM so that Polkadot and Ethereum developers can deploy existing codes without significant changes. Basically we supports ink! and Solidity smart contracts by using the following 2 tools.
We focus on making the best smart contract platform so that DApps developers on Polkadot don’t need to pay much attention to infrastructure and they can focus more on their DApp. In addition, when we say layer2, it is not only for tps. It also for cheaper transaction cost and faster finality. Users will choose Plasm simply because Plasm is the only one Parachain which supports layer2 (faster and cheaper) from day1. And lastly, Polkadot Relaychain doesn’t support smart contract functionalities by design. All DApps developers have to choose one smart contract Parachain.
We received several grants from Web3 Foundation and we are implementing the Optimistic Virtual Machine, a unification for all layer2 protocols. Through the OVM, Plasm developers can use
Plasma (ready), State Channel (TBA), and Optimistic Rollups (TBA).
We are excited to implement the Optimistic Rollups. The existing scaling solutions are mainly used for
token swaps (e.g. Plasma). The Optimistic Rollups is a scaling solution not only for token transfers but also for smart contracts. We believe the scaling solution for smart contracts will be the next big innovation!