A Decentralized Cross-chain Bridge Network, Darwinia Is Revolutionizing Cross-chain Transactions
With Substrate and POLKADOT we are witnessing a new era in the Blockchain industry. Also, facilitating decentralized finance, the cross-chain bridge networks have made asset transfers on heterogenous chains easy. As DeFi takes the driving seat in the world of blockchain and cryptocurrencies, cross-chain asset transfer and bridge networks have all the potential to become the new Ethereum. No doubt why many are already putting their bet on the cross-chain ecosystems marking the beginning of Cryptocurrency 3.0.
The Darwinia Network is a promising project which aims at creating a highly advanced decentralized cross-chain bridge network and claims to “provide the safest general bridge solution, connecting Polkadot, Ethereum, TRON and other heterogeneous chains by cross-chain assets transfer.” Though the idea is intriguing, there are technical complexities that require dedicated solutions in order to deliver. Darwinia seems to be taking the challenge head-on and convincingly details the technical aspects of how the Darwinia chain will be operating as a stand-alone cross-chain network while itself managing the consensus security and cross-chain interoperability.
One-Stop Solution For DApp Developers
DApps have grown exponentially and projects like TRON, in particular, have demonstrated the potential of the expanding market. The Darwinia Network through its decentralized cross-chain bridge network is addressing some of the most pertinent problems facing DApp developers. For example, currently, due to the heterogeneous nature of public chains, developers have to develop the same DApp for each public chain if they want to get access to multiple public chain communities. It is not only tedious but also the costs incurred to reach these users are sufficiently high. With its layered network design and cross- chain interaction powered by Substrate, the new ecosystem will allow developers to reach multiple communities with just one App. Through the Darwinia platform, Blockchain-based Dapps will easily perform cross-chain token transactions and transfer.
Flexibility Of Solo And Polkadot Connection Mode
The Darwinia Bridge Chain, which is also the most important part of the Darwinia ecosystem. It is capable of functioning as an independent network as it is powered by Substrate. It also benefits from the Polkadot protocol which allows an open parachain network. This means the users get to choose to “access Polkadot as a Parachain of Polkadot.” The Bridge Chain Network will allow users the flexibility to operate in the Solo mode or Polkadot Connection mode. In the Solo Mode, the Darwinia network would operate as “an independent public-chain network and is responsible for its own consensus security,” and in the Polkadot Connection Mode, the bridge chain serves as a Parachain for Polkadot.
Comprehensive Solution To Complex Problems
The Darwinia Network project is indeed a very comprehensive and elaborate project which takes on some really complicated issues facing the DeFi sector and DApp developers in particular. The cross-chain bridge operating independently and as a parachain for Polkadot is innovative. As the DeFi market continues to explode and cross-chain exchange is becoming a necessity to make cryptocurrency go mainstream, for Darwinia sky’s the limit.
Darwinia Network has been getting immense traction amongst DeFi experts and developers. Recently, on October 27 2020, Polkadot CEO Gavin Woods talked about the Darwinia Bridge Chain during the Polkadot tour in China. It is truly a remarkable endorsement of the hard work put in by the Darwinia team.
Darwinia has posted immense success in the Chinese market and has reported amplified growth in one of the biggest DeFi markets globally. It isn’t surprising, not after the project was one of the most talked-about (so much so that Polkadot CEO couldn’t resist mentioning Darwinia) during the Polkadot Tour in China earlier in October last year.
Yes, the opportunity is now! Let’s understand why KTON is undervalued and can provide some interesting short-term gains.
Darwinia Network is powered by the RING Token. However, the users can lock-in their RING tokens for 3–36 months in the process of Staking and will get a KTON token as a reward. While the RING token can be used as gas for transactions which include transaction fees, contract execution fees, network bandwidth charges, storage fees, and more, the idea behind issuing KTON is to encourage long-term participation by incentivizing and rewarding users who stake their RING tokens.
Now, let’s take a quick look at the figures from around September 2020. At that time we see that 10,000 RING tokens were staked to gain 1 KTON. Now, the price of the RING tokens at the time was 15,00 USD while that of 1 KTON was 400,00 USD. Comparing the figures we see that KTON has already been undervalued. Also, it is important to note that as the price of the RING tokens increases it will become increasingly difficult to purchase 10,000 RING tokens to stake for KTON. And, therefore with a lesser probability of staking 10,000 RING tokens, KTONS will become literally scarce. This means that right now the KTONS are undervalued and probably the best time to make a move.
Purchasing KTON from Uniswap is expensive due to high gas fees. Outside of Uniswap there are a couple of exchanges you can buy KTON, see here.