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What happens if you combine Bitcoin’s Proof of Work (PoW) consensus with Dan Larimer’s Delegated Proof of Stake (DPoS) consensus? Increased decentralization, scalability, and security. That’s exactly what ABEYCHAIN 2.0 has put on display with its third generation blockchain and quickly growing ecosystem.
Never before have those activities associated with DeFi been easier. ABEYCHAIN 2.0’s unique blockchain technology allows developers to create stablecoins, exchanges, and DeFi products around credit, derivatives, insurance, asset management and wallets—just like those other smart contracting blockchains. The powerful combination of PoW and DPoS allows these to be better implemented than heretofore.
As the ABEYCHAIN ecosystem continues to spread, the number of dapps available on the platform is on the rise. The platform already boasts more than 100,000 users. The most recent example of ABEYCHAIN innovation is XSWAP, the protocol’s Decentralized Exchange (DEX). This state of the art decentralized exchange is home to lightning fast settlement times and winning game theoretics. Like other decentralized exchanges, XSWAP allows users in a decentralized blockchain ecosystem to trade in a trustless manner and even earn rewards for providing liquidity.
XSWAP offers transaction transparency, autonomy, immutability, and much more. Compatible with ARC-20 tokens, cross-chain assets (BTC, ETH, BNB, DOT, and AST), MetaMask, and the native ABEY Wallet, XSWAP designers claim this DEX offers better performance due to the groundbreaking hybrid consensus, as well as their early incorporation of sharding, a strategy of partitioning a database.
XSWAP functions in familiar ways to those users of other DEXs. For instance, users also pool their assets on XSWAP. This creates a liquid fund for the decentralized and transparent settlement of trades.
Users can also stake digital assets for an Annual Percentage Yield (APY). XSWAP’s governance token, XT, was launched with an airdrop on August 17th, 2021. The results were impressive. In just a few hours, the airdrop was over. All the tokens had been claimed. XT grants holders the right to vote on new developments and changes to the platform.
Decentralized exchanges are at the heart of blockchain ecosystems. XSWAP’s functionality, which is bolstered thanks to the unique implementations on ABEYCHAIN 2.0, could prove to be a difference maker as third generation blockchains offer more of what blockchain enthusiasts need, lending the protocol the network effect needed to take on incumbents like Bitcoin and Ethereum, which have long been criticized by insiders for their lack of scalability.
When compared to other DEX competitors, XSWAP could offer less expensive and instantaneous transactions. That’s something DeFi seems to be starved for. Since sensitivity to fees could prove to be the determining factor for many when it comes to picking a blockchain, XSWAP, and thus ABEYCHAIN 2.0, could be favorably positioned to benefit from the mainstream adoption of decentralized finance.
An alternative financial system is on the horizon, and third generation blockchains such as ABEYCHAIN 2.0 are today forming the bedrock upon which a DeFi of the future can operate efficiently. As users evolve from sophisticated financial traders to retail consumers, the entire world will see the benefits of decentralized exchanges. Demand will go through the roof. Scalability will make or break blockchain’s chances of becoming the infrastructure of the future;s financial system.
What’s for sure is this: each and every day, the economic, technical, and operational issues facing blockchain receive novel solutions. The contemporary designers have learned from the mistakes of those who come before them. They’re creating an evermore robust foundation with which to decentralize all the things, and ABEYCHAIN’s XSWAP DEX could be betokening of what’s to come from an already world-changing movement.