HALO Network
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HALO Network

How HALO Network Is Building A Scalable And Decentralized Blockchain Ecosystem

The digital ledger is gaining momentum as mainstream adoption gets even closer. Countries like Salvador have built payment systems on blockchain technology, which says a lot about the future of the distributed ledger.

Blockchain supports the proliferation of a virtual space where individuals can cater to their indulgences. Facebook’s recent plans about creating a metaverse is something that blockchains are more suited for, and lots of metaverse projects are in the works.

While the growing interest in blockchain is welcomed, networks have to rival their centralized counterparts — a big ask for most chains. Will HALO Network spring a surprise where others have struggled? Here’s proof that the new kid on the block will do just that.

Built For DeFi

Most of the familiar blockchains existed before the DeFi craze. This might not seem like such a big deal, but it is. They were not built for DeFi. Perhaps not many, even within the innovative blockchain space, expected the disruption of the financial sector.

Decentralized finance platforms blossom on a blockchain that’s truly decentralized, fast, and secure. Most blockchain networks sacrifice one for the others. The result is a lackluster environment that’s inimical to the growth of DeFi protocols.

Unlike the other blockchains, HALO Network has a framework that supports DeFi dApps. Everything about the digital ledger goes through votes. Voting is done based on the number of HO tokens held by the voter. This decentralized notion of the blockchain fuels the disruptive tendencies of DeFi protocols.
The DeFi framework of HALO Network brings scalability to these decentralized dApps.

Competing against CeFi dApps requires DeFi computing to be extremely fast. However, this isn’t the case. Most blockchains fall short in the scalability department, leading to DeFi dApps looking lost in the cloud when they should be at the top of the pile.

HALO Network’s reliance on its unique HPOS consensus provides the perfect architecture for DeFi protocols to grow.

Since there’s no central authority involved in the financial activities of DeFi protocol, security is a major concern for these platforms. In the past, attackers targeted centralized exchanges, but they have since moved on to the softer targets — DeFi protocols. The incessant attacks in recent times are evidence of the inability of most blockchains to shield these financial hubs from nefarious activities. Fortunately, HALO Network has that covered.

Ideal For A Metaverse

Facebook recently hinted it’s dabbling into creating a virtual world that lets users be in the moment. It’s believed to be the next step in the tech company’s plan for maximizing its tech products.

While Facebook is just joining the party, blockchains like HALO Network are in the thick of the metaverse. HALO Network recently partnered with BAT Protocol towards the creation of a metaverse game.

BATPL is currently deployed on HALO Network, though the metaverse is in development. The protocol combines a smart contract and a unique consensus algorithm to deliver a metaverse game.

The choice of HALO Network for the deployment of the BATPL dApp can be ascribed to the blockchain’s capacity to provide a decentralized playing field. If the NFTs virtual game will succeed, then a level playing ground is required with the payment structure in place — which HALO Network delivers.

If anything, the blockchain’s deep-rooted support for decentralized finance will be handy in making metaverse dApps like BATPL meet the expectations of the playing public.

If the metaverse is to deliver on the expectations of the growing interests, then interoperability is something blockchains can’t ignore. HALO Network has standardized communication between chains, making interoperability less ambiguous.

How HALO Network Stays Scalable And Decentralized

The blockchain trilemma — a phenomenon where one of the three of scalability, decentralization and security gets botched for the others — is as real as it gets. HALO Network attempts to break that jinx using its unique consensus mechanism and input of smart contracts.

HPOS, HALO Network’s consensus makes the blockchain highly scalable as affirmed by the high transaction per second. The faster block generation rate of the digital ledger compared to others reinforces HALO Network’s scalability. It is one of the reasons the blockchain is touted as the best chain for DeFi dApps.

For HALO Network, decentralization is not the sacrificial lamb either. The blockchain requires several nodes to be online, so there is a lower chance of a decentralized blockchain. While nodes can decide to go offline, there are severe penalties for such defaulting nodes.

The use of smart contracts for numerous activities on the blockchain — cross-chain bridging, staking, governance, and more — guarantees efficiency while reducing the possibility of foul play.

Conclusion

The virtual world is changing, and digital ledgers have to either keep up or die. So it is no surprise to see HALO Network building a decentralized and scalable blockchain. This will see the chain gain even more traction in the coming days as the distributed ledger’s development progress generates more interest.

Follow HALO Network and stay up-to-date:

🔘 Official Website: https://halo.land
🔘 Telegram Group: https://t.me/HALONetwork
🔘 Telegram Channel: https://t.me/HALONetwork_news
🔘 Twitter: https://twitter.com/network_halo
🔘 Medium: https://halonetwork.medium.com
🔘 Reddit: https://www.reddit.com/r/halonetwork
🔘 Discord: https://discord.gg/7rMEbWzacd

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