• About
  • Contact Us
Thursday, June 30, 2022
Crypto Currency Financial
  • Home
  • Crypto News
  • CRYPTO CASINOS
    • Cardano Casinos
    • Ethereum Casinos
    • Litecoin Casinos
    • Tron Casinos
  • MARKET UPDATES
    • BTC ANALYSIS
    • ETH ANALYSIS
    • XRP ANALYSIS
  • About Us
  • Contact Us
No Result
View All Result
Crypto Currency Financial
No Result
View All Result
Home TRADING GUIDES

New Zero Gas Fee Design: Solution to DeFi’s Scaling Issues

Max Steven by Max Steven
November 13, 2020
in TRADING GUIDES
400 12
0
New Zero Gas Fee Design: Solution to DeFi’s Scaling Issues
567
SHARES
2.6k
VIEWS
Share on FacebookShare on Twitter
PlasmaPay

New York, USA, Nov. 12, 2020 (GLOBE NEWSWIRE) — To find a solution to the rising cost of gas on Ethereum, PlasmaPay’s Chain enables near immediate token transfers with zero fees and supports the full range of DeFi tokens still allowing for up to 50,000 transactions per second.

PlasmaPay, a global payment and remittance platform for consumer and commercial use, has revealed an upgrade to Plasma DLT to remove all gas fees. With traditional transaction fees model users have to grapple with the unwelcome expense of additional costs at peak network hours and a rise in the cost of gas on Ethereum. 

At time of press the average cost of a transaction on Ethereum sits at $1.96 dollars, with averages spiking as high as $12.28 in September. Compare this to an average cost of under 10 cents at the start of the year, and the challenges facing DeFi and the Ethereum network become clear.

PlasmaPay launched a DeFi-first blockchain that will solve many of the current issues faced by DeFi users to eliminate the fee network model which is choking the blockchain industry.

Plasma Chain features a number of innovations that bolster its efficacy, with PlasmaPay capable of acting as a bridge between two chains. This cross-chain technology will enable users to trade cryptoassets such as Ethereum and other DeFi tokens on the Plasma Chain without the need for gas fees. Support will also be added for Cosmos, EOS, and Binance Smart Chain, so that DeFi investors will be able to broaden their horizons and access as wide a range of financial opportunities as possible. 

Ilia Maksimenka, CEO of PlasmaPay, commented, “Plasma Chain represents a further achievement for PlasmaPay. We have been building it since 2018, as we realized that the current offerings would not be sufficient for the explosion in DeFi activity that we were anticipating. It will provide the infrastructure required for a seamless user experience as we continue to try and foster global DeFi adoption.”

Plasma Chain is an integral part of PlasmaPay’s vision to build the financial services infrastructure for the global digital economy of Web 3.0. It is built specifically to meet the needs of the ever expanding DeFi ecosystem, and it will integrate with other PlasmaPay products including the Plasma DEX and DeFi Dashboard.

For more information, visit plasmapay.com

About PlasmaPay:                              
PlasmaPay is a global payment and remittance platform for consumer and commercial use providing fiat on/off ramp services to more than 100,000 users from over 160 countries via mobile and desktop apps. PlasmaPay uses blockchain technology to allow users to securely store crypto and fiat currency, buy and exchange digital assets, send and receive cross-border payments, and build payment networks with zero transaction fees. PlasmaPay’s DeFi ecosystem allows the underbanked and unbanked population access the financial services without an intermediary. CEO and Co-Founder Ilia Maksimenka, along with the distributed team of cybersecurity developers and economists are dogmatic in their mission to create an open, intuitive financial platform allowing the world to unlock the full potential of blockchain technologies. PlasmaPay is headquartered in Tallinn, Estonia.

Follow PlasmaPay on Twitter
Visit PlasmaPay Website: https://plasmapay.com/
Follow PlasmaPay on Medium
Join the Telegram Community

Media Details
Company: PlasmaPay
Email: [email protected]
Website: https://plasmapay.com/

Attachment

  • Ilia Maksimenka (CEO and Founder of PlasmaPay)
Max Steven

Max Steven

Max has keen interest in what cryptocurrencies have to offer in regards to NGO’s, governments and the financial system.

Related Posts

Blue tick, a way to cover up for a huge scam

Blue tick, a way to cover up for a huge scam

May 4, 2022
LABS Group is making Marketing Alliance with KuCoin The Big Shift from Ethereum to New Binance Smart Chain

LABS Group is making Marketing Alliance with KuCoin The Big Shift from Ethereum to New Binance Smart Chain

April 2, 2022
How to Save Hawaiian Geese and Get Wealth with Grand Goose Mansion?

How to Save Hawaiian Geese and Get Wealth with Grand Goose Mansion?

February 16, 2022
Announcing TurboXBT, The Newest Short-Term Trading Platform And Why You Should Care

Announcing TurboXBT, The Newest Short-Term Trading Platform And Why You Should Care

November 6, 2021
How to Stop Liking Someone And Move On For Good

How to Stop Liking Someone And Move On For Good

September 16, 2021
Aurora reverses itself on pot hospitality measure when second vote comes up short

Aurora reverses itself on pot hospitality measure when second vote comes up short

September 14, 2021

Trending

Vickersventure AI-A great impact technology development program
Press Release

Vickersventure AI-A great impact technology development program

1 hour ago
Up to 20x  leverage and trigger orders: WhiteBIT cryptocurrency exchange has updated the terms of margin trading
Press Release

Up to 20x leverage and trigger orders: WhiteBIT cryptocurrency exchange has updated the terms of margin trading

2 days ago
How MinersLeague makes mining easy for everyone
Press Release

How MinersLeague makes mining easy for everyone

2 days ago
Shima Capital Leading $6 Million Seed Round For MECH.COM
Press Release

Shima Capital Leading $6 Million Seed Round For MECH.COM

2 days ago
RLD.DAO’s ambition: to be a revolutionary presence in the crypto
Crypto

RLD.DAO’s ambition: to be a revolutionary presence in the crypto

3 days ago

Recent Post

  • Vickersventure AI-A great impact technology development program
  • Up to 20x leverage and trigger orders: WhiteBIT cryptocurrency exchange has updated the terms of margin trading
  • How MinersLeague makes mining easy for everyone
  • Shima Capital Leading $6 Million Seed Round For MECH.COM
  • RLD.DAO’s ambition: to be a revolutionary presence in the crypto
  • Introducing Lords of The Lands – A Futuristic Metaverse Space for NFT Rentals
  • 8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem

Categories

  • AI Trading
  • Axia
  • Bitcoin
  • Blockchain
  • Blockchain News
  • Business
  • Crypto
  • Crypto News
  • Cryptocurrency
  • Cryptonews
  • Cryptos
  • Deepcoin
  • Gaming
  • Guest Post
  • ICO
  • Metaverse
  • News
  • NFT
  • Press Release
  • Technology
  • Tezro
  • Token
  • Trading
  • TRADING GUIDES
  • Wallets

Tags

2020 Announces Betting Bitcoin blockchain Brides cannabis Casino Casinos Colorado Content coronavirus Covid19 crypto Cryptocurrency Currency Deal financial foreign Gambling Games Gaming Group Launch Launches live marijuana market Online Partners Partnership Play pot Pragmatic Red reports revenue Simple Slot Slots Solutions Sports Supply unveils William

About

The cryptocurrencyfinancial publishes regular news, analysis and opinion pieces on the latest developments in this fast-moving space. We offer the latest crypto news, expert pricing analysis and insight on the latest ICO's.

Contact Us: [email protected]

  • About
  • Contact Us

Associated with Blockchain Press Media Network

No Result
View All Result
  • Home
  • Blockchain
  • Crypto
  • News
  • Press Release
  • Price Analysis

Associated with Blockchain Press Media Network

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)
    $47,760.000.100% 24H
    BITCOIN
    24H : 0.100%
    Volume : $25,691,746,641.00
    Marketcap : $902,767,395,534.00
  • ethereumEthereum(ETH)
    $3,750.30-0.42% 24H
    ETHEREUM
    24H : -0.42%
    Volume : $15,543,537,817.00
    Marketcap : $446,191,570,291.00
  • binancecoinBinance Coin(BNB)
    $523.71-0.25% 24H
    BINANCE COIN
    24H : -0.25%
    Volume : $1,715,282,504.00
    Marketcap : $88,112,540,019.00
  • tetherTether(USDT)
    $1.0000.050% 24H
    TETHER
    24H : 0.050%
    Volume : $52,703,800,023.00
    Marketcap : $78,519,198,598.00
  • solanaSolana(SOL)
    $175.020.210% 24H
    SOLANA
    24H : 0.210%
    Volume : $1,660,210,957.00
    Marketcap : $54,115,741,275.00