Plasm Network is the first project to successfully run a testnet on Rococo V1 network, they have recently announced the first WebAssembly smart contract was successfully deployed on Plasm Rococo - the Polkadot Testnet Parachain.
https://twitter.com/Plasm_Network/status/1355840816594313223
This is a big step forward for Plasm Network.
Smart Contract, Scalability And Polkadot
Smart contract is one of many critical success factors of Ethereum Network. Smart contracts have a lot of use cases such as: inventory management, automation of payments and tasks,.... On the other hand, Ethereum has to deal with scaling problem and the Polkadot project is on its way to solve that scaling problem but its Parachain, by design, does not support smart contracts.
This gives Plasm Network an opportunity to fill in that gap.
What is Plasm Network?
Plasm Network is a scalable and interoperable infrastructure for Web3.0. Since Plasm Network is built with Parity’s Substrate Framework, it can be a Polkadot Parachain which acts as a scalable smart contract platform in the future. One of the most crucial demands of DApps Developers is scalability. With Plasm Network, DApps Developers can build whatever applications they want without having to consider its scalability.
Plasm Highlights
- Last week, Plasm also launched the Shiden network, which is Plasm's canary network, and they also plan to auction parachains on Kusama in the near future.
https://twitter.com/polkawarriors/status/1354639789866160128
- Plasm Network became the first Parachain on Rococo V1 - First testnet Parachain of Polkadot. This can be a launchpad for them on their way to become an official Polkadot Parachain
https://twitter.com/Plasm_Network/status/1349151686799998976
- In just 2 months, more than 16.000 ETH were locked on their smart contract. They also receive multiple grants from Web3 Foundation to deploy ZK Rollups and Optimistic Rollups.
More about Plasm:
- Website: Plasmnet.io
- Twitter:@Plasm_Network
- Telegram: @PlasmOfficial
- Github : @PlasmNetwork
