Categories
Review

Will Solana Become a Blockchain of the Future?

The problem of blockchain scalability is old, but nevertheless burning. Ethereum has been claiming for years that it could solve it with sharding, and it sort of has, but with some side effects. Meanwhile, other blockchains use side-chain or off-chain computing as a way to reduce the load on the network and these methods lead to improvements in the traditional linear blockchain structure, however the greater complexity leads to imminent technical problems. In addition, there is often a need to reconcile different branches, leading to reduced involvement of the entire network and therefore – jeopardizing decentralization.

Solana is a (relatively) new blockchain platform that aims to solve the scalability problem using several unique innovations. The blockchain, which name refers to a sunny beach in California, where its creator Anatoly Yakovenko used to spend his time before releasing the whitepaper in 2017, celebrated its mainnet beta one year anniversary in March 2021. And while the latest fundraising round led by Andreessen Horowitz and Polychain Capital brought Solana additional $314,159,265, which in turn the team promised to spend mostly on the expansion of the blockchain, most recently, the assistant to all marketers, California-based Neon Labs launched Ethereum Virtual Machine on Solana, thus inviting the diverse range of Ethereum-native projects to the network.

The Solana team has introduced the Proof of History consensus and Tower BFT to the world. In this article we will focus on these two novelties that allegedly help the network grow and still be quick, secure and decentralized.

Categories
Review

AMA Recap: DeFiTeller x Impossible Finance

DeFITeller

Hi everyone, today we are here with Impossible Finance protocol builder Calvin Chu! Hi Calvin! We are very happy to have you with us today!

Calvin Chu | Impossible Finance

Hey, thank you for having me here today. 

DeFITeller

As always, we’d first like to ask you a few introductory questions about the project and your role in it. Can you say a few words about the mission of the project and what it’s about briefly?

Calvin Chu | Impossible Finance

Good question!

Impossible Finance was created by builders, hackathon-goers, and power users of defi and on-chain applications.

We believe the best way to make DeFi more accessible for a wider audience is to provide institutional-quality deal flow to the regular user. Coming from the industry-leading centralized launchpad platforms, we’re excited to tackle the challenge of building a decentralized incubator and launchpad to support the project teams innovating tomorrow.

Categories
Review

Why Polygon Is This Year’s Hottest Project

Polygon, formerly known as Matic, is now a major newsmaker in the DeFi sector and beyond. Basically, the team from India was the first to implement the project that took care of the main sore points of Ethereum without going far away from it, and attracted high-profile and prosperous projects to its ecosystem. Almost every day the news about another project launched on Polygon appears online, after which the project can usually boast of an increased number of active users. A recent addition to the network, PolyLion, is a decentralized exchange which only launched on Polygon on May 14. According to DappRadar, it showed 66k transactions, over $6M of locked assets and 2,400 unique addresses interacting with the platform in 11 days of its existence.

Besides Polygon, you can also find a lot of announcements regarding other different L2 solutions, like Arbitrum or Optimistic. However, it is important to understand the fundamental difference between Polygon and most of the other solutions. So in this article we’ll describe in detail the architecture of this year’s hottest project and explain why it’s more suitable to compare it with, say, Polkadot, rather than the newly born Arbitrum.

Before Polygon

Before the rebranding, Polygon was called Matic or Matic Network. It was launched in October 2017 and was supported by Binance and Coinbase. The team is quite big and international, but the core-team is located in Mumbai, India. Its co-founders, Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, are experienced developers in the DeFi space.

Categories
Review

Cardano Gets Ready for the Battle

At the end of February 2021, Cardano became the third cryptocurrency by market capitalization by CoinGecko rating, inferior only to two veterans – Bitcoin and Ethereum. Coinbase Pro has recently listed ADA, prior to which, in March of this year, the price of Cardano’s native token soared by another 20% after the announcement of the upcoming listing. Let’s try to dig deeper into the topic and understand what are the advantages of Cardano and why it aspires to be the new Ethereum.

Founded as far back as 2015 by Input Output Hong Kong (IOHK) and Charles Haskinson, the former co-founder of BitShares, Ethereum and Ethereum Classic, Cardano is a blockchain platform based on a consensus algorithm called ouroboros proof-of-stake, the whitepaper of which was presented four years ago. It determines how consensus is achieved in the network, i.e. it actually sets who generates new blocks and checks the transactions. These functions are assigned by slot leaders. Any coin holder can become a leader of a slot when the consensus chooses it. The ability to form a new block is proportional to the quantity of shares that belong to the coin holder, the higher the number of coins, the higher the probability of becoming a leader of the slot.

This protocol allows Cardano to solve one of the main tasks – scalability, which significantly increases such a parameter as the number of transactions per second (TPS).

Categories
Review

Why Do We Need Synthetix?

Synthetix is a synthetic asset protocol on Ethereum, the largest decentralized protocol for derivatives. The network makes it possible to trade assets, such as gold, stocks, and so on, without having to leave Ethereum. All synths are tokenized, so they can be traded or used as liquidity on other DeFi platforms. 

Many traders consider derivatives risky, although they give them a number of advantages, provided, of course, that users know all the details of the mechanism. Let’s look at this in more detail.

First of all, what derivatives actually are?

Derivative is a contract in which two parties shake hands and enter into a purchase and sale of a fixed price contract. The peculiarity of this is that even if the price of the product increases at the time of the transaction, the buyer will still receive it at a pre-agreed price. The seller also benefits from this type of deal, because this way he/she has a guarantee that the product will be purchased. Experienced investors earn on the instability of the cryptocurrency market with minimum risk with the help of special contracts, which include derivatives.

Categories
Review

Why Is Polkadot the Ultimate DeFi Hub?

Polkadot (DOT) is a cross-chain ecosystem founded by Web 3 Foundation, that reflects Web 3’s vision of a multi-сhain and the user-friendly future of DeFi. 

Officially launched in may 2020, the project has made its way to the top of DeFi within just a year. Today their native token (DOT) shines among the heavyweight cryptocurrencies (currently ranking number seven on Coingecko) and the blockchain is supported by such giants as Coinbase Venture and Compound, who have granted Polkadot for development of Acala, the network’s DeFi hub. Let’s take a closer look at this unique pink creature.

What Constitutes Polkadot?

Polkadot unites many blockchains, all of which are heterogeneous – each of them can have its individual structure and area of specialization. All the blockchains are secured and connected through the Polkadot Relay Chain.

Categories
Review

Avalanche: Internet of Finance?

All the main questions about Avalanche

What is Avalanche?

You have probably heard that ‘Internet of Finance’ slogan as you have also probably heard of Avalanche. In this article we will dig deeper into the new ecosystem that started from a consensus protocol and figure out what the Internet of Finance actually does.

Avalanche is an open-source platform that can be used for building new interoperable blockchains and decentralized applications on top of them. It is promised to be way faster than the existing systems (it finalizes transactions within 1-3 seconds) and offers a list of benefits not only to dapp owners but also to developers who can build those dapps more comprehensively and easily than they used to. The key feature that distinguishes Avalanche is that the protocol lets developers create their own blockchain ecosystems.