Why build on Rio Chain?
Following up on our introduction of Rio DeFi, let’s explore the benefits for any decentralized application project to use our core technology — Rio Chain.
1) Avoid the limitations of existing blockchain systems.
To fulfill our vision of an open financial system, Rio DeFi has developed a digital infrastructure called Rio Chain. It is a next generation blockchain built on Parity Substrate, a popular framework for creating decentralised systems that uses the latest advancements in blockchain technology.
Rio Chain has several core functions. One is to allow users to send and receive cryptocurrencies globally, almost instantly, and with near zero fees. This is achieved through various technical innovations that will be addressed in subsequent articles. Rio Chain is also, and perhaps more importantly, a platform designed to support decentralized application (dApp) software.
There are various considerations to keep in mind when choosing between a centralized or decentralized software distribution system. Since the inception of Bitcoin in 2009, Blockchain-based dApps have reached unprecedented levels of security, transparency, and accessibility.
However, even the most popular dApp platforms such as Ethereum or EOS have not yet garnered a broad user base. Lack of scalability, poor user experience, and governance issues are commonly cited as the main reasons for this lack of adoption. More than anything, their lack of interoperability with each other and with traditional financial systems is a hindrance to the mainstream adoption of blockchain networks.
2) Benefit from a fully interoperable and flexible network.
To facilitate business use cases at scale, the Rio Chain network provides the ability for its users to interact with other blockchain networks. Based on the underlying Substrate protocol, our cross-chain technology allows messages and assets to be transferred seamlessly through Rio Chain. Whether it’s Bitcoin, Ethereum, EOS, or Tron, Rio Chain’s generic asset gateway supports the deposit and withdrawal of a broad variety of digital assets.
Our technology stack includes a wide variety of modules including oracles, savings and lending services, an OAuth authentication system, and other tools that ensure a user-friendly experience across the Rio ecosystem.
Integrating your application on Rio Chain will be greatly facilitated by the various toolkits that constitute our virtual machine interpreter. Rio Chain’s Web Assembly interface easily allows applications to be built using different programming languages.
Our team of developers can help you integrate your project with the Rio Chain technology stack and facilitate its smooth development. Building your applications on Rio Chain will also allow you to benefit from Substrate’s fast growing ecosystem of programmers.
3) Gear your project for sustainable economic growth.
One constant weakness of existing blockchain networks is their lack of scalability and speed when compared to traditional financial systems. Using Ethereum for example, projects and users face systemic challenges due to variable, sometimes very high transaction fees (especially for micro-actions in games) and a relatively slow network with low transaction throughput.
Not only does Rio Chain address the issues of scalability (it processes up to 3,000 transactions per second) and speed (~2 second block times), but it also has a unique economic model that enables a positive feedback loop between the platform and the applications that contribute to its economy. As a reward to dApps built on Rio Chain, 20% of all transaction fees will be re-distributed to the dApps that generated those transactions. This type of incentive is but one example of the mutually beneficial relationships that we want to establish with our partners.
Rio DeFi is creating a global ecosystem. We believe that the success of our initiative is deeply connected to the success of the projects that will build on our platform. If you build your application on Rio Chain, our team will assist you in promoting your project across our network large network of crypto users, developers, and investors.
Join us in establishing the next frontier of finance!
About Rio DeFi:
Rio DeFi is a blockchain technology company with a mission to accelerate the mass adoption of digital assets by bridging traditional and decentralized finance. At the heart of the Rio DeFi ecosystem is Rio Chain, a powerful digital infrastructure tailored for mass adoption. We prioritized security, speed, scalability, and interoperability; and operate across blockchains to leverage the strengths of each.