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
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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