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INTMAX has recently announced the development of Plasma Free under the top Web3 builders’ lead. The new project of INTMAX focuses on improving the flexibility and programmability of blockchain apps while meeting the increasing requirements of worldwide developers. Plasma Free operates as the earliest EVM-compatible protocol of Plasma.
INTMAX Announces the Development of Plasma Free under the Well-Known Web3 Builders
INTMAX is a well-known cutting-edge L2 zkRollup that utilizes stateless architecture for highly scalable, secure, and effective blockchain applications. As per the platform, the co-founder of Latamex and Settle Network will reportedly spearhead the respective project’s open-source development. Jack Saracco, the founder of Y-Combinator is also contributing to the development endeavors.
Formerly, Jack developed Settle Network and Latamex. Latamex works as the initial and the biggest fiat gateway in Latin America. In the meantime, Settle Network gets a prestigious place for its resilient agenda for the settlement of digital assets. It facilitates effective exchange as well as cross-border payments within the region. Leona Hioki, the CEO and co-founder of INTMAX also remarked on this project.
According to the executive, the expertise of such prominent Web3 builders will prove groundbreaking for the new project. Plasma, which was once a top Ethereum L2 scaling protocol that Vitalik Buterin and Joseph Poon conceptualized in 2017. Its purpose was to bring Visa-level transfer volumes to the ecosystem of Ethereum. In this respect, Plasma networks permit all data as well as computation other than Merkle roots, withdrawals, and deposits. This opens ways to huge scalability gains by the on-chain availability of the data.
Rollups superseded Plasma because of issues concerning online requirements and user experience. Even then, Vitalik Buterin intends to bring it back as he described in a blog post. Intmex joins the strengths of zkRollups and Plasma to improve scalability and security while guaranteeing the transfer processing with matchless privacy. Plasma Free provides rapid transfer processing via sidechains along with maintaining EVM compatibility.
INTMAX Supports Developer Ecosystem and Broader Blockchain Community’s Growth with This Endeavor
It improves programmability of the blockchain applications and supports complicated interactions with smart contracts. Moreover, it also guarantees transaction security. Hence, developers can conveniently deploy DApps and smart contracts on the sidechains of Plasma Free. They can do this by utilizing familiar tools, leveraging the advanced speed apart from lower transfer fees in comparison with the rest of the chains. INTMAX asserted that this support for Plasma Free promotes the developer ecosystem and the wider blockchain community’s growth.