Blockchain
BIFROST Is Launching a DPoS Network for Cross-Chain Solutions with 20% APR Staking Opportunity
BIFROST initially took off as a multichain middleware project designed to connect the diverse ecosystem of blockchains. As people are witnessing a global crypto adoption stage and more demand for a better Web3 experience, the blockchain space still faces issues of providing network efficiency and scalable financial infrastructure. That being said, BIFROST is now shifting focus to expand to a DPoS blockchain network and accelerate our overarching project vision: to make DApps work.
Why BIFROST is building a DPoS Network
Through the introduction of BIFROST network, BIFROST aims to build a DApp-friendly environment enabling cross-chain activities to provide real-world applications and innovative functionalities over time. BFC will be used as the native coin to ensure network security through a process of staking based on the Delegated Proof of Stake (DPoS) algorithm to reach consensus efficiently and democratically. Holders who stake BFC will vote on delegates to elect the validator nodes that help secure the network. Gas fees for transactions that occur across the network will be significantly reduced as compared to the expensive gas fees on Ethereum and various PoW networks.
BIFROST: A Borderless Cross-Chain Financial Network
BIFROST network will be designed to provide new and practical functionalities with an emphasis on cross-chain financial innovations, such as lending, DEX, payments, and more. With this approach, BIFROST will roll out the first native cross-chain lending services and provide users with seamless cross-chain swaps, payments, and exchanges (DEX) across multiple networks.
BIFROST anticipates demonstrating the true potential of multichain technology through the power of both BIFROST and Biport. This sustainable, community-governed, and cost-efficient network will provide powerful solutions for DApps to scale and support global adoption.
Participate in BFC Staking
Starting today, BFC investors can stake BFC on staking.thebifrost.io to earn 20% APR. The staking period will last until the launch of the network (expected Q2/Q3 2022).
Participating early in BFC staking is a great way to maximize the holdings and contribute to the network.
Why is there a pre-staking opportunity before launch?
Built on the DPoS consensus concept, BIFROST will need votes from users of the network to elect delegates that will validate the next block. Staking BFC pre-launch will help provide the votes and delegates for the initial validators of the network.
Once staked, BFC will be safely stored in a smart contract. At the network launch, all staked BFC will be transferred to the BIFROST network (cross-chain). Then the staked funds will be automatically used to vote and elect the initial validators of the network.
Users will need to connect Biport wallet with BFC funds to start staking.
Staking Period
- February 10, 2022 to BIFROST Network Launch (Q2/Q3 2022)
Staking Policy
- All staked funds will generate 20% APR (in BFC) until network launch
- The number of times and the amount users can stake is unlimited
- Staked BFC will be transferred to the BIFROST network and votes will be automatically used to elect delegates at launch
- Users may withdraw your staked BFC at any time before or after network launch (see Early Withdrawal Policy below for withdrawing before launch).
Early Withdrawal Policy
- Early Withdrawal refers to withdrawing users’ staked BFC before the network launch
- Early withdrawals will result in the change of reward rates from 20% APR to 5% APR for the entire staking period. Interest will stop accruing once the withdrawal is requested
- Users will be able to withdraw their staked BFC and the accrued staking rewards 21 days after the withdrawal request.
SOURCE BIFROST
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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