Unicrypt, a robust platform that offers decentralized crypto services with multiple chains, will begin integration into the Elrond network in the third quarter of 2021.
The development will enable Unicrypt to deploy its wide range of current and future applications in the Elrond chain, which currently has 639,000 mainnet wallets with 6.2 million transactions and approximately $ 11.4 million.
Why Elrond Integration Is Important!
For starters, Unicrypt plans to provide its liquidity lockers, which protect DeFi investors from exit fraud, along with the Unicrypt browser in addition to Elrond’s intuitive end-user app. Maiar exchange.
Maiar revolutionizes DeFi services by promoting critical mass adoption, much like the Internet browser invention of the Internet. The exchange currently has more than $ 1.72 million in EGLD that is used by more than 59,000 users.
The use of Unicrypt liquidity lockers, hailed as the groundbreaking liquidity lockers for Uniswap pools, provides an extra level of confidence and security for newly launched DeFi projects using Maiar liquidity pools. The Unicrypt team hired a Rust developer to oversee the process.
The second step is to provide unicrpyt token vesting options that will increase the confidence of potential participants in token offerings. The service allows a new project team to define their trustworthy long-term tokenomics plans and set up a lockout period (usually a year or two).
Token vesting can also serve additional purposes such as airdrops, community contests or fully decentralized linear token allocations for supporters of an upcoming crypto project.
Finally, the Unicrypt team checks the use of the above-mentioned provisions and lets the community vote on which service should be provided next on the platform. The survey will determine whether the above services will take precedence over other offerings currently in the pipeline, including revised iterations of the Unicrypt farming and staking tools and improvements to the self-service incubation zone.
What challenges could integration face?
Unicrypt must first determine which technical resources are to be provided for the services provided via the Elrond chain, as in the past it only created Solidity.
The next challenge is to educate the Elrond audience and users about technical Unicrypt services like migrations, liquidity locks and trustworthy DeFi tools that require documentation. Unicrypt plans to mobilize technical and community support to help Elrond users understand these concepts that may not be as clear to a BSC audience.
Elrond: The Most Energy Efficient POS Consensus Mechanism
Elrond is a potential future smart blockchain that aims to accelerate adoption for the world’s development teams through its simple and powerful blockchain infrastructure, tatum.io. Any user can use Elrond’s free API to develop apps without special knowledge of the blockchain.
The highly scalable, fast and secure internet-scale blockchain uses a Proof of Stake (PoS) algorithm and a new Adaptive State Sharding mechanism to enable a cumulative 1,000-fold increase in performance. Elrond is the first and only 3rd generation infinitely scalable chain that scales up to 100,000 TPS.
The Elrond project, led by CEO Beniamin Mincu, is driving the building of distributed applications, enterprise use cases and the newfangled internet economy. The innovative blockchain project presents the most significant development for an energy-efficient POS algorithm that promotes unprecedented fairness among all parties while at the same time bypassing network resources.