Why Berachain is the next Layer 1 blockchain to watch

Original title: "Why Berachain is the Next Layer 1 Blockchain to Watch"

Translation: Vernacular Blockchain

Berachain is a next-generation Layer 1 blockchain for DeFi applications . It solves the liquidity problem in the DeFi field through a unique three-Token model and Proof of Liquidity (PoL) consensus mechanism. With community culture and innovative technology, Berachain is building a highly secure, decentralized and scalable blockchain ecosystem.

1. Main features and technological innovations Three Token Model

BERA: Native Token used to pay gas fees and block rewards.

BGT: A non-transferable governance token obtained by providing liquidity and used to participate in on-chain governance.

HONEY: A stablecoin anchored by USDC, which is minted by pledging other assets to provide a stable medium for transactions on the platform. Proof of Liquidity (PoL) consensus mechanism:

Improving the security and performance of the network through liquidity providers, liquidity mining, proof of liquidity and liquidity governance mechanisms. Polaris EVM and Cosmos-SDK: Built on Cosmos-SDK and integrating specific on-chain features optimized for PoL. Polaris EVM provides a modular EVM framework to provide an efficient execution environment for smart contracts.

2. Cross-chain interoperability

may have cross-chain interoperability and be able to interact with other blockchain networks to provide a wider range of financial and transaction options.

On-chain governance: Supports on-chain governance model, allowing Token holders to participate in network decision-making to ensure fairness and transparency.

Market popularity and community support: Berachain has demonstrated significant market popularity and community marketing capabilities:

Social media attention: Twitter has nearly 1.04 million fans and 50,000 active members on Discord.

Community projects: Projects such as “The Honey Jar” attracted a large number of users and promoted the growth of the Berachain ecosystem.

3. Future prospects and competitive advantages Berachain has unique competitive advantages in the blockchain field

Innovative model: Its three-Token model and Proof of Liquidity (PoL) consensus mechanism solve the conflict between pledge and liquidity.

Market Demand: After the collapse of Terra, there is strong demand for new DeFi stablecoins, and Berachain has the potential to fill this gap.

Funding and Support: Recently closed a $100 million Series B round led by well-known institutions including Brevan Howard Digital and Framework Ventures.

4. Similar projects

Berachain competes with the following projects in the field of blockchain technology and cryptocurrency:

Ethereum: the most well-known EVM blockchain, supporting a wide range of smart contracts and decentralized applications ( dApps) ecosystem.

Binance Smart Chain (BSC): EVM-compatible blockchain that provides low-cost transactions and smart contract functions.

Avalanche (AVAX): A high-performance platform that supports EVM compatibility and custom subnets.

Polygon (MATIC): A Layer 2 solution that provides scalability and interoperability, supporting the Ethereum ecosystem.

With its innovative three-Token mechanism and Proof of Liquidity (PoL) consensus, strong community support, and growing market popularity, Berachain has shown the potential to become an important Layer 1 blockchain. As users and the ecosystem continue to grow, Berachain is expected to play a key role in DeFi innovation and become a star blockchain in the industry.

The above is the detailed content of Why Berachain is the next Layer 1 blockchain to watch. For more information, please follow other related articles on the PHP Chinese website!