Blockchainseller

I have been around long enough to remember when blockchain for mass adoption meant slapping a token onto something people already did not want and then acting surprised when nobody showed up. So when I hear Vanar described as an L1 built from the ground up for real world use my instinct is not excitement. It is caution. Maybe even irritation. I have seen this movie. The ending is usually ugly.

Still credit where it is due Vanar does not look like most of the wreckage I have covered over the years. It does not pitch itself as a financial revolution or a replacement for the global banking system. Instead it points at games entertainment digital worlds brands and consumers who have never once asked what a consensus mechanism is. In theory that is the right audience. In practice it is the hardest one to win.

Crypto has always had a user problem. Not a scaling problem. Not a tooling problem. A human problem. Normal people do not care about chains. They care about experiences. They care about whether something works whether it is fun and whether it wastes their time. Vanars entire thesis rests on this idea—and if that sounds obvious now it certainly was not obvious to the industry a few years ago.

What separates Vanar from the endless parade of next big chains is that it actually ships products. I have seen too many projects live forever in pitch decks raising money on promises and vibes. Vanar already has Virtua Metaverse. It already has the VGN games network. These are not placeholders. They are live attempts to put blockchain behind the scenes rather than front and center.

That is smart. It is also dangerous.

Because the moment you build real products you are no longer competing with other crypto projects. You are competing with Web2 giants who are very good at what they do and do not carry the baggage of tokens wallets or regulatory ambiguity. Gamers do not compare Virtua to another metaverse chain. They compare it to Roblox Fortnite Steam and whatever else already owns their attention. Who are we kidding if we think otherwise.

Vanars strategy leans heavily on vertical integration. Gaming metaverse environments AI tooling eco focused initiatives and brand solutions all orbiting the same L1. On paper it looks ambitious. In real life it looks exhausting. Each of these verticals is a business on its own with its own economics timelines and ways to fail. I have watched companies choke under the weight of far less ambition.

And then there is the token. There is always a token.

VANRY is positioned as the connective tissue of the ecosystem fuel for transactions incentives participation. That is standard. The problem is that consumer driven tokens live or die by engagement not belief. You cannot will usage into existence. If people stop playing the games or stop showing up in the metaverse the token does not magically hold value because the tech is elegant. It just sits there exposed.

Gaming tokens in particular have a brutal history. I have covered dozens of them. Initial excitement a spike a few months of optimism then the slow realization that retention is hard and content is expensive. Players are ruthless. They do not care about roadmaps. They care about whether tonight is fun. Web3 adds friction whether teams like to admit it or not—wallets custody explanations trust. You can reduce the pain but you cannot erase it.

Vanar claims it is smoothing onboarding and hiding the complexity. Maybe it is. I have learned to treat words like frictionless and seamless with suspicion. In finance and technology those words usually mean less bad than before not actually solved.

The brand angle is another tightrope. Brands like control. They like predictability. They like compliance. Blockchains at least in theory do not love any of those things. Chains that chase enterprise adoption often end up quietly centralized managed carefully behind the scenes. That can work commercially. It can also drain the ecosystem of the chaos and creativity that attract developers in the first place. I have seen that tension tear projects apart.

The metaverse component deserves extra skepticism. I have been covering virtual worlds since before crypto discovered them. Most failed. Not because the technology was weak but because nobody cared enough to stay. Empty digital land is still empty. Avatars without meaning do not create culture. Virtua has partnerships and content which helps—but attention is the real currency and it is brutally scarce.

Timing does not do Vanar any favors either. We are in a market that punishes hype and demands results. Retail is cautious. Institutions move slowly. Regulators are paying attention in ways they were not a few years ago. Building now requires patience and discipline. Tokens unfortunately do not operate on those timelines. They trade on expectations and expectations have a habit of turning hostile when reality lags.

I do not think Vanar is smoke and mirrors. I have seen enough scams to recognize the smell. This feels more dangerous than that. This feels like a serious attempt that could still fail for very ordinary reasons—users do not stick games do not hit brands hesitate attention moves on. Crypto history is full of competent teams that built real things and still ended up irrelevant.

Vanar is making a clear bet that experience beats ideology that consumers can be brought into Web3 without ever knowing they are there and that products not narratives can anchor a blockchain in the real world. It is a rational bet. It is also one with almost no margin for error.

Because the market does not care how hard something was to build. It only cares whether anyone shows up—and whether they stay.

#Vanar @Vanarchain $VANRY

I have been honest about this for years. I have heard this pitch before. New chain. Narrow focus. Serious tone. Less hype. More infrastructure. Plasma wants to be boring and that alone tells me its builders have been paying attention. In crypto boredom is aspirational. It is also rare.

Stablecoins whether people like it or not are the only part of crypto that escaped the sandbox. They did not need ideology to win. They did not need slogans. They just worked. USDT and USDC became dollar rails for places where dollars do not move easily or move with strings attached. In my experience that kind of adoption does not happen because something is elegant. It happens because it is useful enough to tolerate the flaws.

Plasma is trying to strip some of those flaws away. The idea is simple enough to explain without slides. A Layer 1 blockchain built specifically for stablecoin settlement. Not a rollup. Not a modular experiment. A base layer that assumes stablecoins are the main event. Payments first. Everything else secondary.

That choice already narrows the audience. Plasma is not chasing NFT mints meme coins or whatever narrative is hot this quarter. It is chasing merchants payment processors and users who just want their money to move now. That is refreshing. It is also brutal. Payments systems do not get applause. They get audits.

Technically Plasma is playing it safe where it can. Full EVM compatibility through Reth means developers do not need to relearn their craft. That matters more than most people admit. Every chain that tried to reinvent the execution model paid for it in developer apathy. Plasma avoids that trap. Solidity works. Tooling works. Wallets do not panic.

Finality comes from PlasmaBFT a custom consensus system promising sub second confirmations. That is the right target. Payments feel broken when they stall even briefly. I have watched normal users abandon apps over delays that crypto people barely notice. Speed is not a luxury here. It is survival.

Then there is the Bitcoin anchoring. This is where Plasma starts signaling values not just performance. Anchoring to Bitcoin is meant to increase neutrality and censorship resistance borrowing credibility from the one chain that has resisted capture better than any other. I get the appeal. Bitcoin is slow expensive and stubborn and that stubbornness is exactly why people still trust it.

But let us be clear because this gets fuzzy fast. Anchoring to Bitcoin does not make Plasma Bitcoin. It does not inherit its security model or social consensus. It creates a reference point a checkpoint a cost to rewriting history. Useful yes. Magical no. The real trust still lives in Plasma validator behavior and governance decisions especially under pressure.

The stablecoin centric features are where Plasma tries to earn its keep. Gasless USDT transfers are not a marketing gimmick. They address one of the most common reasons normal people bounce off blockchains. Nobody wants to buy a volatile token just to move digital dollars. Stablecoin first gas removes that friction. Fees paid in the same asset being transferred. Simple. Intuitive.

But here is where experience makes me cautious. Gasless is never truly free. Someone absorbs the cost. Validators issuers applications or some combination that looks clean on paper and messy in production. I have seen fee subsidies work beautifully early and become political once volumes scale. Who gets prioritized. Who pays when margins tighten. Who decides when free is no longer free.

Plasma target users reflect this tension. Retail users in regions where stablecoins are already everyday money. Institutions that want faster settlement without rewriting compliance frameworks. These users do not care about crypto culture. They care about uptime cost predictability and not getting dragged into governance drama they did not sign up for.

Institutions especially will look past the narrative fast. They will ask who controls upgrades how validators are selected and what happens when regulators demand intervention. Bitcoin anchoring will not answer those questions. Lawyers will. Contracts will. And those answers will shape adoption more than any throughput metric.

EVM compatibility brings its own problems. The EVM was not built for high frequency payments. It was built for expressiveness and composability. You can optimize clients like Reth and that helps but state growth MEV dynamics and contract complexity do not disappear. Plasma will have to actively resist becoming just another general purpose chain with a stablecoin banner hanging off the front.

And then there is the uncomfortable comparison nobody likes to dwell on. Tron already dominates USDT transfers. Not because it is elegant. Not because it is neutral. Because it is cheap fast and works well enough. Ethereum rollups are improving. Banks are experimenting with private stablecoin rails that do not touch public blockchains at all. Plasma is not competing in a vacuum. It is competing against inertia.

This is where Plasma bet becomes clear. It is betting that neutrality openness and Bitcoin adjacent security will matter more over time than raw convenience controlled by a few entities. That may be true. Or it may be something we say until the next outage fee spike or regulatory scare.

I have watched dozens of Layer 1s die quietly. Not in flames. Not in scandals. They just stopped being necessary. Plasma greatest risk is not failure. It is irrelevance. And its greatest success would look exactly the same as invisibility.

If Plasma works you will not tweet about it. You will just notice that stablecoin transfers feel boring in the best possible way. If it does not users will not complain. They will simply go back to whatever works today and wait for the next chain that promises to finally get payments right.

#plasma @Plasma $XPL

ダスクは2018年に花火なしで現れた。メシアコンプレックスなし。火曜日までに銀行システムを覆すという約束もなし。それは、実際にルールブックを読んでそれを嫌っていたかのように現れたが、無視することがどこにも行き着かないことを知っていた。それはすでに、まだアウトローとしてコスプレをしながらETFの承認を求めているほとんどの暗号通貨とは対立していた。

これは規制された金融のために構築されたレイヤー1ブロックチェーンであり、その文は業界の半分をひるませるには十分である。規制は誰もが聞こえないふりをする言葉である。一方でプライバシーは拍手を受ける。ダスクは両方を持つことができると主張している。スローガンとしてではなく、配管として。静かで、隠れており、魅力的ではない。

新しいLayer 1について初めて聞いたとき、正直なところ私の脳はすぐに麻痺してしまいます。私はあまりにも多くのピッチや法律的な免責事項のように書かれたホワイトペーパー、そしてこのことが実際に誰のためのものであるかという質問を静かに避ける多くの創業者の話を聞いてきました。しかし、Plasmaは派手だからではなく、むしろ攻撃的に非ロマン的であるため、私の注意を引きました。これは現在のステーブルコインの状態を見て、十分なふりはやめて、機能するレールを構築しようと言っているブロックチェーンです。

私はこの業界に長くいるので、聞いたときに馴染みのあるトーンを認識できます。より静かなトーンです。他の人とは違うと言っているトーンです。ヴァナルはそのキャンプに非常に近いです。L1ブロックチェーンで、実世界の採用、実ユーザー、実ビジネスのために構築されていると主張しています。Xで午前3時にお互いに議論しているクリプトの人々だけではありません。それが新鮮に聞こえる理由はわかります。以前に何度も聞いたことがあることも知っています。

ヴァナルの起源の物語は、そのマーケティングよりも重要です。チームはゲームエンターテインメントブランドの仕事から来ています。それは些細なことではありません。ゲームを出荷した人々は、理論に対して少ない忍耐力を持ち、現実に対してより多くの敬意を持つ傾向があります。ゲームは公の場で壊れます。彼らはユーザーをすぐに失います。サーバーが遅延したり、経済が崩壊したりするときに、ロードマップの後ろに隠れることはできません。その観点から、ヴァナルの使いやすさへのこだわりは理解できます。シードフレーズやガス料金を学ぶように彼らに頼むことで、三十億のユーザーをオンボードすることはできません。技術を消すことで彼らをオンボードします。