【CryptoNews】Do You Know? 01: Off-chain Issuance for Tokens
As Defi (Decentralized Finance) ecosystem growing rapidly and prosperously, Flowchain, one of the pioneer blockchain infrastructure builders, cannot miss the revolutionary development of Fintech. Moreover, Flowchain’s official partner in Taiwan, AI Mining, is about to launch its latest Defi products based on Flowchain’s IoT blockchain and AI techs. Instead of jumping into the product showcase, I would like to start with something more basic about Defi in a visualized way.
Ladies and gentlemen, let me introduce you “CryptoNews — Do You Know?” series. The series will be going with Flowchain’s cutest employee, Jolian (yes, the orange creature with spikes in the graphic above) from Defi 101 to a more sophisticated tokenomics model. If you want to review the basics about cryptocurrency before entering the Defi, please check our previous articles here.
Ok, fellows, shall we begin?
Now, we understand the pros and cons of the “traditional” on-chain transaction. As blockchain infrastructures and applications developing, more scenarios are getting more explicit and more needs are coming out, for example, the finance. The international remittance and foreign exchange are usually the nightmares for foreign workers and trading organizations, which are time-consuming and quite costly. Defi, on the other hand, might be a solution offering the benefits of blockchain’s features. However, the “traditional” way still has its limits, i.e., the slow transaction confirmation, higher gas fees, and high volatility. Cryptocurrency needs to evolve as well. Therefore, the open-source communities (and Flowchain) came up with the solutions of off-chain issuance for tokens aiming to solve the problems of traditional finance without compromising its original advantages.
In the next 【CryptoNews】Do You Know?, we will talk about “Token supply management”. See you soon!
For more information about Flowchain’s Off-chain issuance, please check here.
Last but not least, feel free to leave a comment or any feedback in the Responses. :)
