January 15, 2023

Fast and scalable Bifrost blockchain !!! Incentivized Testnet 2

Hello everyone! Today we will consider a very promising project Bifrost !! The Bifrost blockchain is built on the Substrate platform, it is fully compatible with EVM networks and provides developers with a universal environment for creating multi-chain dApps.

Using BIFROST's own inter-chain communication allows users and developers on one blockchain to use dApps provided on other blockchains.Thanks to multi-chain technology, Bifrost dapps applications become faster, more transparent and can significantly reduce gas costs!!!

The future of WEB3 lies behind multichain, the environment that the Bifrost project creates, thereby opening up huge opportunities for developers to develop innovative and diverse applications.

Advantages for developing and running applications on the BIFROST network:

  • Cross-chain Interoperability
  • Built-in token bridge interacting with DApps
  • Multichain-ready resources (Token and Oracle)
  • Extending legacy single-chain DApps to support multichain
  • DApp-Friendly Environment
  • Price oracle aggregation
  • EVM Compatibility

The native coin of the Bifrost blockchain is BFC, the coin is the basis of the ecosystem!! It is important to note that BFC is used to ensure network security through a betting process based on a Delegated Share Confirmation Algorithm (DPoS) for effective and democratic consensus building.Lend, stake, borrow, and earn using the BFC token while ensuring the network’s economic security!!!)

At the moment, many products have already been launched and are working in the Bifrost ecosystem, and their number will grow :

  • The Biport wallet is a decentralized, multi-chain wallet.
  • BMall-Marketplace for NFT holders, buyers and sellers.
  • ChainRunner -DeFi Aggregator.
  • BIFI -Multichain DeFi.
  • BIFI X - automated leverage service that uses flash loans.

The project has gathered a fairly large and active community around it!! Twitter has more than 86,000 followers. There are 20,000 participants in Discord, which is a pretty good result!!

I would like to note that at this stage a BIFROST Incentivized Testnet 2 is being conducted, the purpose of which is to further raise awareness about the BIFROST ecosystem!!! The test network does not require technical knowledge, and anyone can participate freely. The passage of various tasks is carried out through the Crew3 platform!!! More information can be found in this article..

https://medium.com/bifrost/bifrost-incentivized-testnet-2-eki-rewards-6096e1e08df6

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