DeFi is Becoming Increasingly Cross-Chain, cosmos
With the explosion of DeFi from its initial experiments to the burgeoning sector it is today, never before has the need for interoperability been so clearly underscored.
Yet all this innovation to offer cheaper, faster, improved usability comes with significant tradeoffs in terms of decentralization and security. An equitable financial system cannot be held together with duct tape, VC capital, or conglomerates controlling a handful of nodes. Entire blockchains can control accounts on separate chains. So, rather than users simply transferring tokens and following them across different chains, Interchain Accounts provide access to all IBC-enabled Cosmos chains straight from one Cosmos Hub account.
Every single piece of Lego can be optimized, allowing for ultra-fast iteration, innovation, and communication between protocols. Better still, unlike in Ethereum or similar ecosystems where applications have to relinquish their sovereignty and are subject to the constraints and governance of the layer 1 they are built on, using IBC as the protocol, blockchains remain entirely sovereign, while achieving interoperability. In other words, the composability that Interchain Accounts introduce doesn’t take away the benefits of application-specific blockchains.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
100-Year-Old Pennsylvania-Based Bank Approved to Leverage Makerdao's Stablecoin Vault – Defi Bitcoin NewsThe recently passed Makerdao proposal allows the U.S. financial institution Huntingdon Valley Bank the means to leverage a stablecoin vault.
Weiterlesen »
PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcherHigher security and lower inflation derived from the Merge will put ETH as a serious aspirant to the throne of crypto, according to DeFi researcher Vivek Raman. The expert thinks the PoS will allow the native token to position itself as a digital bond.
Weiterlesen »
International Securities Regulator IOSCO to Focus on Global DeFi, Crypto RulesGlobal securities regulator IOSCOPress plans to publish policy recommendations for DeFi and crypto by the end of next year. iamsandali reports.
Weiterlesen »
This Crypto-Related Industry Outlives NFTs and DeFi as VCs Invested $1.2 Billion This Year AloneICYMI: this segment of the market is feeling just fine, while NFT and DeFi industries are taking a huge hit crypto
Weiterlesen »
Cross-Chain Infrastructure Protocol LI.FI Raises $5.5M.lifiprotocol, a cross-chain aggregator of bridges and decentralized exchanges, raised $5.5 million in a funding round led by 1kxnetwork. BrandyBetz reports
Weiterlesen »
Celsius transfers $124 million in wrapped bitcoin from AaveCelsius continues to repay and reclaim large amounts of collateral from its DeFi positions.
Weiterlesen »