Since the huge controversy about the Ethereum EIP 1559 proposal at the beginning of the month, it has rekindled users’ attention to the largest application platform in the field of blockchain. High gas fees and transaction congestion pose a huge obstacle to the completeness of the Ethereum DeFi ecosystem, and users have to face the fact that miners are extracting too much value in the DeFi project, and the fees have exceeded the revenue that can be generated in the short term in the DeFi project. The cross-chain has become imminent, as it is not only a reshuffling of the existing DeFi ecosystem of a bunch of public blockchains, but also a countermeasure by blockchain users, DeFi users, against miners who have a vested interest. Among the existing DeFi projects, POFID DAO, a trusted decentralized financial asset management platform that provides privacy protection, has made its architectural construction of the public blockchain DeFi ecosystem.
Reconstructing Transaction Privacy in the Public Chain Ecosystem
In mid-March, POFID’s ETH cross-chain deployment has been completed. The cross-chain development of other public chains including BSC, TRON and other mainstream public chains in the trading market will be completed soon; by then, POFID DAO will become the world’s first DeFi project with compatibility with all mainstream digital assets and high TPS at the same time, which will re-integrate digital asset-based DeFi products and transaction settlement methods upon completion of the program and drive the DeFi market to a new prosperity. BSC, for example, is the world’s leading decentralized exchange that allows users to trade freely using privacy-protected POFIDs and pledged mining on the platform, and BSC’s DeFi ecosystem, with the successful construction of POFIDs across chains, can provide privacy-protected transactions for every user on the chain, mapping real assets to a quantifiable digital asset on the chain, and supporting both homogenized assets and high TPS digital assets. POFID’s cross-chain initiative will drive reform in the way the entire decentralized financial asset instrument market operates, moving away from the DeFi model of working for miners.
Breaking the Ecological Boundary of the Head Public Blockchain
Digital assets are distributed in various public blockchains, alliance chains, centralized systems, and digitization, settlement, and validation require decentralized governance in POFID’s view. POFID has a well-established, phased Layer2-based layer, as well as a boundary-free Layer1 network that is eventually implemented for better decentralized governance, providing different solutions through the Layer2 layer implemented by Relay approach, choosing ETH and similar ledger structures and public chains that support similar contract script compilation environment EVM technical standards, with a focus on deployment and compatibility on BSC; opening cross-chains of major digital assets with significant consensus like BTC and DOT; and accepting the circulation and securitization of these assets on POFID as a common standard for asset mapping.
As an underlying platform that independent from the public blockchain, POFID DAO is a cross-chain substrate and a trusted digital asset transformation channel that maps real assets on the chain into a quantifiable digital asset through smart contract technology that supports privacy protection, and derives different financial products to provide better liquidity for these assets. The completion of its cross-chain construction provides an ambitious creative platform for the future development of DeFi. POFID currently uses distributed signatures and the construction of a cross-chain protocol grid is on the agenda, which will accommodate all virtual asset infrastructures and be unique from other blockchains.
Integrating the Top Trading Ecosystems in a Profound Way
POFID’s current cross-chain technology is highly compatible and secure. Its versatility is the core competitiveness of the cross-chain technology on the market. POFID now covers many exchange public chains, in the visible future, the final realization of the cross-chain plan will construct on those top exchange public chains, the integration of information. Various forms of assets, data, and functions including anonymous privacy, lending, and machine gun pools can be quickly and easily transferred to each other on various exchange public chains.
The most important point is that POFID DAO can not only be used as a standalone ecosystem for building modules, but also can be integrated into other ecologies and built on other ecologies as modules, achieving multi-chain interoperability through cross-chains, and providing diverse services based on privacy protection for different public chains such as BSC and TRON. While enriching the ecological integrity of BSC, it also integrates POFID’s own established DeFi ecosystem into the BSC ecosystem. Therefore, if POFID DAO joins head public blockchains like BSC, it will be able to deeply integrate with various ecosystems, greatly stimulate the application scenarios of exchange public chains, and accelerate the rapid development of DeFi ecosystem.
In short, POFID is bringing substantial changes to the blockchain. Let’s witness that in the visible future, more mainstream public blockchain assets, including TRON and BSC, will associate with POFID DAO, with them, we will witness the cross-chain promotion of the construction of DeFi ecosystem.