Cypherium: CeFi Meets De-Fi
In recent years, DeFi protocols began the disruption of the traditional finance sector. The DeFi whirlwind was massive; it had banks looking like some prude octogenarian not keen on the future.
CeFi outfits have since entered the foray — no one wants to be left out. A supporting blockchain that matches all their needs appears to be farfetched. Despite the far-reaching effects of the DeFi boom, the innovative pacesetter isn’t perfect. Security issues, high transaction fees, and several other challenges haunt these blockchain-based applications. In addition, developers have their work cut out for them. Building dapps is becoming an expensive venture. Many developers are discouraged from putting in the work due to the high gas fees on the generally preferred blockchain, Ethereum.
Both CeFi and DeFi entities should work together towards the progress of the financial sector. However, no blockchain currently supports both entities.
The Cypherium Solution
A new blockchain might not be everyone’s cup of tea, but the Cypherium network’s attributes should turn heads.
In Cypherium, DeFi developers have found a worthy foundation for their dApps. The new blockchain creates a virtual environment where developers can implement codes, debug where necessary without spending outrageous sums on fees.
Cypherium’s approach to billing is one all users will find convenient. Billing is limited to three things: workload, memory used, and storage option chosen. So it’s easy for a developer to proceed on building that dream dapp as the blockchain is budget-friendly.
Cypherium doesn’t only cater to DeFi app builders. The blockchain has plans to create a digital environment that’s CeFi friendly. As always, with centralized finance entities, lots of collaborations are important. Cypherium has been at the forefront of the newly thought-out CBDC financial system. The blockchain intends to leverage this system in getting its foot in the door.
How Cypherium Achieves This
To actualize its desires for CeFi applications and enterprises, Cypherium has several interesting features.
1. The notary scheme cross ledger framework is one of such features.
The Cypherium framework brings the trustworthiness enjoyed by De-Fi protocols to their CeFi counterpart. It’s certainly something many CeFi dapps struggle with.
2. Another interesting attribute of Cypherium is the Cypherium Connect. The blockchain brings connectivity to the CBDC system through this module. This ensures CeFi apps enjoy the benefits of the banking system.
3. The KYC requirements — which are necessary to check money laundering and other criminal offenses — make CeFi apps a thing. Cypherium uses its unique validator to ensure verification is carried out. Cypherium ID authentication system allows users to provide their identity discreetly without the fear of losing their data.
4. Perhaps the most outstanding attribute of the Cypherium blockchain is its hybrid consensus — HotStuff and Proof-of-Work. This brings the benefits of both worlds to the table. Enterprises have always felt isolated by the POW consensus due to its high overhead costs. The integration of HotStuff provides a balance that should tempt enterprises seeking to leverage the digital ledger’s many benefits.
As more blockchains spring up, Cypherium’s many components should give it a head start. Cypherium instant ledger can go head-to-head with some CeFi favorites — fast transactions are always winners in this space. The combination of an open network and a trusted database should secure Cypherium’s place at the summit of most preferred blockchains.
The Cypherium blockchain is yet another blockchain in a growing number of digital networks. Unlike many of its predecessors, Cypherium wants to cater to the whims of everyone — CeFi and DeFi. No one finds it easy carrying everyone along, not even a blockchain network like Cypherium. However, we believe Cypherium can buck such a trend — giving billions of users seamless transactions, no compromises.
Stay updated about recent developments in Cypherium by following their official websites below: