What is Daisy Protocol?
In the recent five-year span, DeFi has achieved unimaginable heights. This can be easily traced back and monitored with the unbridled rise in popularity of Decentralised Exchanges (DEX), the prevalence of which starts to shift the overall consensus of the whole structure of the Cryptocurrency Market. Simple inquiry in the recent statistics will yield an unprecedented curve of funds flowing into DEX every day. Not only have DEXes become the ever-turning catalyst of funds turnover but they have also poised themselves as a great facilitator and driver of development in the Crypto Scene.
The most prominent and widely used DEXes currently operate within two main networks: Ethereum and Binance Smart Chain. Both of these are agile in certain respects and excel where the other one lacks. Ethereum offers an all-encompassing, reliable, and widely-used choice for DApps development and a slew of other not less inferior options. Where the myriad of flaws on Ethereum starts to manifest themselves is when there is a scaling involved. Ethereum network has yet to adapt and equip its network with scalable and efficient modus operandi. As of yet it visibly staggers when there is a significant network usage which drives gas fees prices to soar, transaction speeds to suffer, and people to sullen.
Binance Smart Chain sets off to rectify the cornucopia of issues with Ethereum by introducing a scalable, decentralized (hotly debated), and stripped of obsolete PoW consensus network. On paper the concept of Binance Smart Chain is commendable and it does work as intended in some cases. There is however a swath of problems exclusive to BSC that are also not to be overlooked. Although BSC ditches obsolete and inefficient PoW consensus, as a substitute it introduces PoA which intrinsically entails issues with centralization due to an enormous influence over the network by a certain small cohort of validators. On top of that becoming a node operator on Binance Smart Chain is an ordeal in and of itself. With grizzling requirements to even have a chance of upholding a network’s stability.
This patently shows that in the current Cryptocurrency space we don’t have a clear winner that surpasses and supersedes everyone and everything by a wide margin.
This is the reason why Daisy Protocol utilizes cross-chain solution as a way to incorporate the positive sides of all of the networks and bring interoperability as a groundwork of its operation.
What is Daisy Protocol
Being tied to one network puts a fair bit of constraint in terms of accessibility, scalability, and general interoperability. The crux of being cross-chain is the unfettered capability to use a network most suited towards the current needs of a user. Most currently available IDO platforms operate in the confines of one blockchain.
The unfortunate reality of this fact brings about the following issues: a certain stratum of users will inevitably be excluded from joining the platform simply on the basis of subjective inconvenience or complaints about the blockchain IDO is operating on. There is also a contradictory aspect of putting any kind of constraints when the very idea and concept of Blockchain itself is to be untied in the choice you have.
This is exactly what Daisy is all about. Daisy protocol allows for an uninhibited IDO platform that works in a way that doesn’t restrict its users to any extent while also delivering an unprecedented level of freedom for projects from various blockchains including Ethereum, Binance Smart Chain to join and conduct IDO on the revolutionary Daisy Launchpad.
The main idea and concept behind Daisy is to facilitate and foster the growth of a manifold of projects in the Daisy ecosystem. Daisy launchpad is uniquely designed to be adaptive, fair, and welcoming to the projects of all rungs.
At the heart of the Governance in Daisy Ecosystem laurels community. The Governing method of Daisy is simple, democracy-driven, and overt. We are putting the community as a governing head because we believe in the fair vote by the majority and we detest any underhanded monopoly being pandered or pushed in crypto.
News and Updates
To keep up to date with the above products and latest releases, follow the links below:
Twitter: https://twitter.com/DaisyProtocol
Telegram group: https://t.me/daisy_family
