Berachain solves the liquidity problem in DeFi with its unique three-token model and PoL consensus mechanism, gaining strong community support and significant funding injection.
Author: Pascual Jiménez Velásquez
Translation: Plain Blockchain
Berachain is a next-generation Layer1 blockchain for DeFi applications. It solves the liquidity problem in the DeFi field through its unique three-token model and Proof of Liquidity (PoL) consensus mechanism. With a strong community culture and innovative technology, Berachain is building a highly secure, decentralized, and scalable blockchain ecosystem.
1. Key Features and Technological Innovations Three-Token Model
BERA: The native token used for paying fuel fees and block rewards.
BGT: A non-transferable governance token obtained by providing liquidity, used for participating in on-chain governance.
HONEY: A stablecoin anchored to USDC, minted by collateralizing other assets to provide a stable medium for trading on the platform. Proof of Liquidity (PoL) Consensus Mechanism:
Enhances network security and performance through liquidity providers, liquidity mining, proof of liquidity, and liquidity governance mechanisms. Polaris EVM and Cosmos-SDK: Built on Cosmos-SDK, it integrates specific on-chain functionalities optimized for PoL. Polaris EVM provides a modular EVM framework, offering an efficient execution environment for smart contracts.
2. Cross-Chain Interoperability
Potential cross-chain interoperability to interact with other blockchain networks, providing a wider range of financial and trading options.
On-chain Governance: Supports on-chain governance mode, allowing token holders to participate in network decisions to ensure fairness and transparency.
Market Popularity and Community Support: Berachain has demonstrated significant market popularity and community marketing capabilities:
Social Media Attention: Twitter has nearly 1.04 million followers, and there are 50,000 active members on Discord.
Community Projects: Projects like "The Honey Jar" have attracted a large number of users, driving the growth of the Berachain ecosystem.
3. Future Prospects and Competitive Advantages Berachain has unique competitive advantages in the blockchain field
Innovative Model: Its three-token model and Proof of Liquidity (PoL) consensus mechanism resolve the conflict between staking and liquidity.
Market Demand: After the collapse of Terra, there is a strong demand in the market for new DeFi stablecoins, and Berachain has the potential to fill this gap.
Funding and Support: Recently completed a $100 million Series B financing led by well-known institutions such as Brevan Howard Digital and Framework Ventures.
4. Similar Projects
Berachain competes in the blockchain technology and cryptocurrency field with the following projects:
Ethereum: The most well-known EVM blockchain, supporting a wide range of smart contracts and decentralized application (dApps) ecosystems.
Binance Smart Chain (BSC): An EVM-compatible blockchain that provides low-cost transactions and smart contract functionality.
Avalanche (AVAX): A high-performance platform supporting EVM compatibility and custom subnets.
Polygon (MATIC): Provides a Layer 2 solution for scalability and interoperability, supporting the Ethereum ecosystem.
With its innovative three-token mechanism, Proof of Liquidity (PoL) consensus, strong community support, and growing market popularity, Berachain demonstrates the potential to become an important Layer 1 blockchain. As the user and ecosystem continue to grow, Berachain is poised to play a key role in DeFi innovation and become a star blockchain in the industry.
Original article link: https://www.hellobtc.com/kp/du/06/5255.html
Source: https://poorpascual.medium.com/why-berachain-is-the-next-layer-1-blockchain-to-watch-ad545a92eb09
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