4 Advantages of Building Dapps on DeFiChain

This article comes from DeFiChain, compiled by Odaily translator Katie Koo.

, compiled by Odaily translator Katie Koo.

DeFiChain hopes to support the next generation of decentralized financial applications, products, and services. Its target audience is the builders and developers who need to take advantage of a secure and powerful network and pay close attention to Bitcoin. Building applications on DeFiChain may be an easier choice, because DeFiChain provides key benefits and opportunities.

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DeFiChain preserves the security of the Bitcoin network

This approach ensures that the latest DeFiChain records are secure and immutable, and can be checked against records that locate Bitcoin. While the peg intervals will be spaced, the network will always benefit from a provably immutable record. Furthermore, utilizing the security of Bitcoin can make DeFiChain safe from attacks, hacks, and bugs.

Although DeFiChain is pegged to Bitcoin, it retains the native consensus mechanism and feature set. These are necessary because the Bitcoin network lacks smart contract functionality and other properties. Additionally, using Proof of Stake (PoS) allows for better scaling, lower energy consumption, fast transactions, and multi-token support.

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Using PoS serves another key purpose in the DeFiChain ecosystem. Since PoS is a more efficient network and enables better energy efficiency, PoS paves the way for DeFiChain to move towards carbon neutrality. The Bitcoin network and other PoW chains have come under increasing scrutiny for their environmental impact. A further push towards renewable energy for mining would help alleviate these concerns.

For DeFiChain, promoting carbon neutrality is crucial. The network became carbon neutral a few months ago and continues to offset CO2 emissions from blockchain operations without interruption. Additionally, DeFiChain also demonstrates how decentralized finance on Bitcoin can be carbon neutral, while other popular L1 networks have been negatively impacting the environment.

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The blockchain ecosystem relies on users and node operators to achieve decentralization. However, the core developers usually retain some control to refine the network and make adjustments. DeFiChain is fully controlled by the community, and users are responsible for maintaining the network and working to build a stronger network.

All DeFiChain community members can contribute to the process of maintaining the network through DeFiChain Improvement Proposals (DFIP). This is an example of achieving decentralized governance and putting community members in charge. Moreover, it creates a place for dialogue and healthy discussions, pushing the DeFiChain ecosystem to new heights.

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DeFiChain Accelerator