Why PolkaEX on Plasm Network?

About Plasm Network

Plasm Network is a scalable smart contract platform on Polkadot supporting cutting edge layer2 solutions such as Plasma and Rollups. It is built on Parity Substrate and designed to be a Polkadot Parachain. Plasm Network aims to make Ethereum2.0 on Polkadot. It supports both Ethereum Virtual Machine and WASM both layer1 and layer2.

Plasm Network 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.Ideally, the developers can build whatever applications on Plasm Network without having to consider its scalability.

Plasm Network is a scalable smart contract platform supporting cutting edge layer2 solutions. To keep the cross-chain operations light and scalable, Polkadot Relaychain does not support smart contracts by design, so all application builders have to choose at least one Parachian which can support smart contracts. When it comes to decentralized applications, what is the most critical issue we have today? Fees are increasing, transactions are slowing down and the chain is getting heavier by the minute. For blockchain technology to move forward, they need to achieve one thing, and that is scalability! What makes blockchain scalable? Layer 2.

When we say layer 2, we are not just referring to high tps (this is an old stereotype) but we are talking about lower gas fees, lighter chain storage, and faster finality.

In a DeFi application, these are the most important attributes a chain should have. In this sense, you can say that this is a match made in heaven for making scalable DeFi dApps platforms.