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• Coupled with the NFT boom, the Ethereum platform, which bought DeFi into existence, has been facing a lot of congestion.
• FreeTON will have its very own stablecoin, TON Crystal token.
• FreeTON has integrated robust sharding technology.
Developers are looking forward to a summer of better and faster promising DeFi projects. Decentralized Finance, or DeFi, uses the revolutionary blockchain technology that utilizes smart contracts to provide financial services. Most of the time, these financial tools offered by DeFi are on par with those of central financial intermediaries like banks and so on. People are free to lend, borrow or trade cryptocurrencies through the DeFi platform. The new DeFi projects have enhanced speed, compatibility, and better usability. Analysts and developers say that we find an alternative to Ethereum, the sole harbinger of the DeFi boom.
FreeTON Offers the Space That DeFi Requires to Grow
Due to the growing popularity of DeFi protocols, Ethereum has been facing a lot of traffic. Coupled with the NFT boom, the Ethereum platform, which brought DeFi into existence, has been facing a lot of congestion. It has become slower and expensive with increasing gas prices. To cope up with the difficulties of building a DeFi protocol, new platforms like FreeTON have emerged. The brand new DeFi protocol promises faster and cheaper transactions. Above all, it offers all the space that DeFi requires to grow to its true potential.
FreeTON may Become the Fastest Available DeFi Platform
FreeTON is a rebirth of Telegram’s blockchain project, which had to be abandoned because of the US regulators who forced them to halt any further operations. All that was left for the developers was a decentralized project to work on. FreeTON has integrated robust sharding technology. This allows the creation of new shards or mini-blockchain which are branched from the core blockchain. The developers claim that FreeTON may be the fastest available DeFi protocol. It can carry out thousands of transactions per second and is highly scalable as compared to other options.
FreeTON will have its very own stablecoin, the TON Crystal token. Developers expect this new stablecoin may set a new paradigm for the DeFi sector in the coming time. This much-anticipated stablecoin is backed 100% by Ether and will offer the liquidity providers the highest returns. Moreover, the stablecoin depicts the true layer-two solution that could solve the significant problem of speed and cost. According to TON Labs, the creator of FreeTON, the protocol is aimed to develop into an egalitarian financial model.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
