Peter Thiel-backed Plasma has introduced the "HotStuff Consensus," enabling high-frequency global stablecoin transactions

BlockBeats News, March 26th, according to CoinDesk's report, the crypto startup Plasma recently announced the technical features of its stablecoin-dedicated blockchain, which adopts a consensus mechanism inspired by HotStuff, promising to achieve fast and efficient global stablecoin transfers.

HotStuff consensus is a Byzantine Fault Tolerant (BFT) mechanism, allowing the system to reach consensus even if some nodes fail or behave maliciously. Unlike traditional BFT systems where each node needs multiple round trips for confirmation, the HotStuff mechanism simplifies this process, with a leader node proposing decisions, validation nodes confirming in a single step, and allowing seamless replacement if the leader node behaves abnormally, thereby reducing latency and increasing efficiency.

Plasma announced on social media platform X: "Plasma Core adopts PlasmaBFT, which is a consensus protocol based on Fast HotStuff, optimized for fast finality and low latency, supporting high-frequency global stablecoin transfers."

It is reported that the Plasma blockchain is specifically designed for the world's largest USD stablecoin with a market cap of $144 billion, Tether, which holds over 60% of the stablecoin market share and generated a profit of $13.7 billion for its issuer last year. Early supporters of the project include venture capitalist Peter Thiel, Tether CEO Paolo Ardoino, and Split Capital's Zaheer Ebtikar.