One of the needs that have grown in the blockchain landscape over the last few years includes interoperability and the need for seamless cross-chain transactions. Supontis(PON) is a timely crypto solution that will cater to the need for seamless value transfer across networks.
The cryptocurrency market was not always diversified as we have it today. Ethereum used to hold all of the major decentralized applications making a central hub for value. Ethereum's scalability incapabilities became more pronounced when activity on the network became too much for it to handle. The network's gas, synonymous with transaction fees, spiked, and transactions became much slower.
Developers saw the need for other alternative blockchains while looking to improve on Ethereum's scalability deficiency. It resulted in the emergence of networks like Binance Smart Chain, Avalanche, and other second-generation blockchains like Ethereum also seemed like viable options. Today, these different networks hold a lot of value, but the pitfall is this value is not easily transferred over. Each network has a token standard that is not compatible with other networks. Hence, the need for cross-chain bridges to enable interconnectivity between blockchains.
Cross-chain bridges already exist in the cryptocurrency market, but Supontis introduces several new implementations of the existing framework. Its unique offering is why early buyers have been buying up the $PON token on presale. It could be a smart way to get into a promising solution early and make decent gains.
Ethereum(ETH) is the second-largest crypto asset in the cryptocurrency market. Still, most crypto enthusiasts would argue that it is the largest network owing to its number of decentralized applications. Ethereum(ETH) is also very valuable to the market because it is a forerunner to several cutting-edge solutions emerging in the blockchain landscape. DeFi, NFTs, Gaming, Metaverse, and many more; ethereum users might argue that no other network can carry the same amount of value without exhibiting the same scalability issues.
Several attempts have been made to solve Ethereum's scalability issues, including layer-2 solutions, sidechains, alternative networks, etc. However, the co-founder of Ethereum, Vitalik Buterin, has announced that the developer's community would solve the scalability issue with a 5-phase process enabling the network to function at full capacity. The first phase of the process is the recently concluded Merge, in which the network transitioned from Proof-of-Work to a Proof-of-Stake consensus mechanism.
After all other processes, Vitalik Buterin affirms that the network will be able to process up to 100,000 transactions compared to about 30 transactions per second the network carries out.
Supontis(PON) is a cross-chain bridge that aims to facilitate smooth asset transfer between separate networks. Supontis is a DeFi protocol at its core and would use all of its DeFi features to create wealth for its community. Supontis was built on the Binance Smart Chain, where it would have efficient scalability support to onboard more users. The Binance Smart Chain provides the protocol with a high level of security and, of course, the most important, smart contract programmability. Smart contract programmability is a key aspect to consider if it would have to interact with several other networks with EVM compatibility.
The Supontis(PON) ecosystem will enable a staking feature that allows users to support the network's integrity while earning rewards. Users can become validators with respect to the number of tokens they own on the network, and each validator's integrity is put in place by the system.
Tokens are locked in some blockchains and pledged to be used to create wrapped tokens on other blockchains. Then, a portion of the locked liquidity is invested in low-risk protocols, and Supontis derives its revenue from these protocols. The revenue is shared among stakers on the protocol, and pretty much other decisive plans to take are overseen by the community in the fashion of a true community-governed project.
Presale: https://register.supontis.com
Website: http://supontis.com/
Telegram: https://t.me/SupontisTokenOfficial
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