When it comes to Plasma, many people's first reaction is to compare: Can it catch up with Solana? Outperform Tron? What are the TPS numbers? How cheap are the Gas fees?

But actually, these questions are off the mark.

From the perspective of Plasma's design logic, it is not competing in the "more user-friendly public chain" track at all. What they truly aim to do is build backend infrastructure for the financial system.

Think about your current experience using stablecoins—opening an exchange, transferring USDT, and it arriving in seconds, so smooth. But have you realized that this entire experience is actually cobbled together? Public chains weren't originally optimized for stablecoins, wallet designs aren't meant for ordinary users, and the Gas mechanism isn't designed with payment scenarios in mind.

Plasma is doing something that may not seem very glamorous but is actually quite critical—it aims to upgrade stablecoins from "assets parasitic on the chain" to "the true core of the system."

Zero Gas transfer sounds like a gimmick, but fundamentally it reflects a philosophy: to make stablecoins used like real money, they can no longer be treated as crypto assets.

This logic could be very important in the long run, but the problem is that there is almost no explosive point right now. Currently, stablecoins are mainly used as trading tools, arbitrage media, and DeFi fuel—essentially chips in virtual financial games. Real-world needs like salary payments, daily consumption, corporate payments, and transfers in the physical world haven't really come to the forefront yet.

This puts Plasma in an awkward position: it seems like it's laying the groundwork for a "world that hasn't yet been born."

If that world truly arrives, Plasma will become a core system. If it never materializes, it might seem a bit redundant.

This isn't a matter of technical capability, but purely a matter of timing.

At its core, the key question is: will stablecoins really evolve into the "payment layer of the real world"?

If not, Plasma's value proposition will be hard to sustain. If yes, then the current Plasma might just be standing at the dawn of a whole new era.

What do you think?