Polkadot Tokens – Crypto DeFi Revolution

What is Efinity (EFI)?

Thu, 25 Nov 2021 01:04:43 +0000

What is Efinity (EFI)?

Efinity is a next generation cross-chain NFT blockchain developed by Enjin, and built on Polkadot. Offers a scalable solution for token generation, transfers & purchases.

Efinity Token (EFI) – The Efinity network is powered by its paratoken $EFI. EFI is a deflationary token used for transaction fees, reward payments and liquidity.

Efinity Parachain – The Efinity blockchain is a parachain with an independent economic framework, data, and state. Communication with other blockchains is enabled by the use of Polkadot Relay Chain validators for its consensus.

Cross-Chain Bridge – Efinity allows tokens that are created on other chains (ERC20, etc.) to be imported using a bridge. Paratokens are backward-compatible with ERC-1155 tokens.

Marketplace Tools – Efinity offers a suite of tools for creating, buying and selling tokens. This facilitates the development applications to transfer NFTs cross-chain for a wide variety of use cases.

Efinity Features – Efinity offers secure transactions, paratoken transfers, swaps, transaction fee delegation, discrete accounts with no private key, fuel tanks for transaction fees, and crafting to modify or create new tokens.

WEBSITE: https://efinity.io/

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What is Moonriver (MOVR)?

Tue, 23 Nov 2021 14:09:30 +0000

What is Moonriver (MOVR)?

Moonriver is a ETH compatible, smart contract parachain on Kusama. It is a companion network to Moonbeam (Polkadot) that provides a permanently incentivized canary network. Code can be tested on Moonriver before being deployed to Moonbeam.

Moonriver Token (MOVR) – Moonriver is powered by its utility token $MOVR. Moon river crypto is used for transaction fees, supporting gas metering, incentivizing collators, and on-chain governance.

Moonbeam Network – Moonbeam is the companion network to Moonriver. It’s a decentralized ETH-compatible smart contract platform on the Polkadot network used for the development of natively interoperable applications.

Ethereum Compatibility – SImilar to Moonbeam on Polkadot, Moon river provides an ETH compatible environment on Kusama that allows existing Solidity smart contracts to run on the network with few changes.

Interoperability – The built-in cross-blockchain networking provided by Polkadot/Kusama allows Moonriver to deliver native cross-chain integrations with other parachains connected to Kusama.

Decentralization – Moonriver provides a highly secure, permissionless, and decentralized infrastructure. It aims to maintain the decentralization standard already set by the Polkadot/Kusama Relay Chains.

WEBSITE: https://moonbeam.network/

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What is Kusama (KSM)?

Wed, 26 May 2021 18:34:46 +0000

What is Kusama (KSM)?

Kusama (KSM) is a scalable, multichain platform that allows users to develop and launch their own specialized blockchains. Developers can build on Kusama before deploying on Polkadot.

The Kusama network is powered by the Kusama token (KSM). Used for network validation, nominations, bonding parachains or parathreads, and governance.

Built by the teams that created Polkadot, developers can use Kusama to deploy projects fast, and test the latest tech before moving to the Polkadot platform.

Parachains are layer-1 blockchains that run parallel to the Relay Chain. This allows for parallel transaction processing to increase the scalability of the Kusama multi-chain architecture.

With cross-chain composability, any type of data or asset can be sent between parachains, providing users with a range of new capabilities for application development.

Kusama is built on Substrate, which is a blockchain building kit that allows developers to quickly & easily build app-specific blockchains (parachains) that connect to Kusama.

WEBSITE: https://kusama.network

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What is 0x (ZRX)?

Tue, 16 Feb 2021 16:04:38 +0000

What is 0x (ZRX)?

What is 0x (ZRX)? 0x is an infrastructure protocol that allows decentralized trading of ERC20 tokens & other assets on the ETH blockchain. ZRX is the ERC20 utility token that powers the Ox protocol. ZRX holders govern the platform by voting on protocol changes.

A collection of smart contracts work together to create a flexible, low friction decentralized trading protocol that DeFi developers can implement into their products.

Nodes, also known as relayers, host an off-chain order book & provide applications where users can conduct transactions. Trading fees are paid with ZRX tokens.

Matcha by 0x is a global search engine for liquidity & markets where users can trade tokens at the current best price.

0x uses Smart Order Routing to split transactions across DEX (decentralized exchange) networks to be filled with the lowest slippage possible.

Connected with all top DEX networks, so there is no need to add new sources. Exclusive Ox liquidity with professional market makers, free limit orders with Ox’s open orderbook, & private liquidity pools.

Website: https://0x.org/

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What is Polkadot (DOT)?

Fri, 12 Feb 2021 12:46:46 +0000

What is Polkadot (DOT)?

The Polkadot network protocol allows any data to be transferred across blockchains creating a completely decentralized web. Polkadot (DOT) is the native token that powers the Polkadot platform. Used for governance, staking & bonding.

With forkless upgrades, Polkadot allows blockchains to upgrade themselves (without needing to fork the chain) using it’s transparent on-chain governance system.

The Polkadot relay chain allows independent blockchains to exchange information & transactions in a trustless way by using Polkadot’s pooled security system to verify transactions.

Polkadot unites a network of heterogeneous blockchain shards called parachains. These chains connect to the Polkadot Relay Chain, and can connect with external networks via bridges.

BLOCKCHAIN SCALING
By bridging multiple specialized chains together into one sharded network, Polkadot allows for multiple transactions to be processed in parallel.

COMMUNITY POWERED
All DOT holders can propose changes, vote on existing proposals and help elect council members who represent passive stakeholders within Polkadot’s governance system.

Website: https://polkadot.network/

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What is RenVM (REN)?

Mon, 01 Feb 2021 23:04:24 +0000

What is RenVM (REN)?

RenVM is an open protocol for transferring cryptocurrencies between blockchains. The network allows developers to bring cross-chain functionality to their DeFi applications. Ren Token (REN) is the ERC20 token used to bond Darknodes to RenVM.

Darknodes are a network of decentralized virtual machines that contribute their compute power & storage space in exchange for rewards. RenVM allows you to transfer any token between any blockchain. Bring BTC, BCH, ZEC & more to your decentralized application (dApp).

As a plug-in for decentralized finance, any DeFi application can incorporate RenVM’s capabilities into their applications & existing smart contracts. RemVM allows for Multi-collateral lending, Cross-chain asset integration, Cross-chain OTC trading & much more.

WEBSITE: https://renproject.io/

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What is The Graph (GRT)?

Fri, 29 Jan 2021 21:05:43 +0000

What is The Graph (GRT)?

The Graph is a protocol for indexing & organizing blockchain data. Developers are able to create innovative serverless apps that run entirely on public infrastructure. The Graph protocol is powered by the Graph token GRT.

Indexers, Curators and Delegators provide services to the network, and serve data to Web3 applications. Consumers use the applications & consume the data. With the Web3 Ecosystem , all data is stored and processed on open networks with verifiable integrity.

The Graph learns how to index data based on subgraph descriptions, called the subgraph manifest. Subgraphs are already in development by leading projects such as Uniswap V2 in the Web3 ecosystem. All the data is immediately available for querying using GraphQL.

Website: https://thegraph.com/

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What is Chainlink (LINK)?

Wed, 27 Jan 2021 20:51:31 +0000

What is Chainlink (LINK)?

The Chainlink Decentralized Oracle Network allows smart contracts on Ethereum to securely connect to external data sources, API’s, and payment systems. The network is powered by the ERC-20 token Chainlink (LINK).

Chainlink expands the capability of smart contracts by enabling access to real-world data, events and payments more securely. Price Feeds are the quickest way to connect your smart contracts to the real-world market prices of assets. They enable smart contracts to retrieve the latest price of an asset in a single call.

Chainlink connects smart contracts on any blockchain to data providers, web APIs, enterprise systems, cloud services, IoT devices, payment systems, other blockchains, and much more.

Build DeFi products across a multitude of use cases:

– Derivatives – Reference contracts to mint synthetic assets, settle futures contracts, or price options.
– Lending & Borrowing – Issue and settle loans, liquidate collateral, and calculate interest payments.
– Stablecoins – Create stablecoins pegged to fiat currency, currency baskets, or commodities.
– Asset Management – Enhance a DEX, adjust capital pools, or facilitate multiple forms of payment.

Chainlink provides enterprises with various ways to leverage the benefits of blockchain technology without restructuring their current systems.

Website: https://chain.link/

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