Decentralized Finance (DeFi) has been the fastest-growing sector within the cryptocurrency space, and for very good reasons — people have realized that most if not all traditional financial services can be built on blockchain infrastructures.
The main benefit of DeFi is that end-users don’t have to trust any central authority. It is the smart contract that takes care of everything. Thus, the power of banks and omnipresent financial institutions, which unfortunately are often inclined to manipulation and excessive control, is transferred to the masses.
We have seen several DeFi projects experiencing tremendous success in the past few months. Think about…
ERNEswap is a decentralized exchange that will rely on swap feature to enable users to trade tokens and synthetic tokens seamlessly thanks to an automated market making mechanism. All orders will be market orders, i.e. they will be carried out instantly. The platform’s main mechanism resembles atomic swaps, which are smart contracts that allow the instant conversion of one cryptocurrency for another without the involvement of centralized exchanges or through fiat operations.
ERNEswap will be available on Matic Network soon; letting traders and liquidity providers utilise the full potential of layer 2 scaling mechanism of Matic and providing users with…
Ethereum suffers from scalability issues in terms of network throughput due to the underlying proof of work (PoW) consensus. The proposal to migrate the consensus to proof of stake (PoS) in Ethereum 2.0 will see massive improvements in scalability in orders of magnitude. The price of gas in the last three months have been high because of the traction DeFi-based projects are getting.
Until the full launch of Ethereum 2.0, Layer 2 solutions provide the optimal solution to improve scalability limitations and reduce higher gas costs. ERNE will operate on Matic Mainnet, an ethereum scaling solution leveraging plasma and PoS side chains. Operating Erne on Matic offers two distinct advantages for ERNE users. No more pending transactions and fear of front running of any orders. Gas fees would be reduced by orders of magnitude.