One of the FAQs from the community is that "What is the difference between Plasm Network and XXX Parachain?"
In this topic, I would like to explain our original implementations.
First of all, Ethereum compatibility is not original since Ethereum compatibility is developed by Parity Technologies. And I am sure that many other Parachains will support Ethereum compatibility.
So…what makes us unique in the Polkadot ecosystem?
This is very strong and interesting feature only Plasm has in the Polkadot ecosystem.
PLM/SDN token holders can stake on validators as well as dApps creators. By doing so, both nominators and dApps creators can get basic income from block reward. To make the long story short, you can earn PLM tokens by making application on Plasm Network though you have to pay high gas fee to develop applications on other networks.
Multi-Virtual Machine and Multi-Chain Future
Plasm Network is a multi virtual machine. This means that we support both Ethereum Virtual Machine and WASM so that you can deploy Solidity, Vyper, and ink! contracts on Plasm Network. In addition to that we support multiple platforms. We are currently making Secret Network bridge, Ethereum bridge, and more. (Disclaimer: Acala may have a similar vision)
Currently we are implementing ZK Rollups and Optimistic Virtual Machine. In the future, dApps developer can deploy contracts both on L1 and L2. We assume a lot of Ethereum projects will use Rollups solution. They can use the same architecture on Polkadot so that they don’t need to waste their work on Ethereum when they make a multi-chain application.
Community Driven Project
Plasm Network is a community driven project. We distribute 65% of the total supply to the community members through lockdrops. In addition to that, I know that many projects only raise funds from very selected VCs with huge discount and community members can’t get tokens at the early stage. This is not our philosophy. We distributed tokens to our users first without receiving any funds. Then we raised funds from VCs. I believe that this makes a difference in the long run.