Supontis, Chainlink and Monacoin to advance the Blockchain network in the crypto space
Cryptocurrency is changing the world economy, which may be the most significant change in the coming years. It is the most suitable option for numerous business requirements, such as online investment, exchange, tokenization, etc.
Most of the cryptocurrencies are based on different blockchains. Therefore, there is a need for communication between these technologies. Bridges have been created in the crypto space. They are known as blockchain bridges.
Blockchain bridges work the same way bridges do in real life. They connect different blockchains and allow easy communication between them. They can also expose users to lower transaction fees and allow developers from various blockchain networks to collaborate on projects. One of the latest blockchain bridges is Supontis.
What is Supontis?
you suppose, as a word, is derived from the English word Super and a Latin word, Pontis, meaning bridge. This stands for super bridge.
In the cryptocurrency market, the supontis token (PON), a new cryptocurrency, is slowly gaining popularity. Its native currency is PON and it will be used for many functions including staking and as a DAO governance mechanism.
The supontis platform, based on Binance Smart Chain, paves the way for seamless cryptocurrency trading. The token enables the transfer of assets between the Binance, Ethereum, Tron, and Fathom blockchain systems.
How does it work?
Supontis works as a bridge to transfer
assets between blockchains. When an asset transfer is initiated, the mechanism locks the assets in the initial chain and creates an equal number of wrapped assets in the final location of the blockchain. During transfer across the bridge, assets are not moved or shipped anywhere. Instead, the mechanism uses a smart contract to execute the transfer request in a two-step process.
The Supontis ecosystem, executed with its native token $PON, will have a staking
component, and will work with a decentralized autonomous organization (DAO) interface to your governance.
Bets with Supontis
With a proof-of-stake (POS) consensus mechanism, staking is possible, allowing users to support the integrity of a network while earning some extra cash. The proof-of-stake mechanism in the component locks tokens on some blockchains and commits those tokens to issue wrapped tokens on other blockchains.
Supontis Decentralized Autonomous Body.
Supontis does not operate in centralized structures. It’s a community-driven DAO, and the community makes governance decisions. Supontis uses a decentralized autonomous organization (DAO), which means that users have the power to make operational decisions and future proposals for the platform.
The native utility token of the ecosystem, $PON, is a BEP20 token built on the BNB SmartChain, which can be used to pay transaction fees. Having this token gives users access to governance rights in the ecosystem. Token holders can vote on proposals on Supontis DAO.
Link of the chain
Chainlink is an oracle network and decentralized blockchain built on top of Ethereum. ChainLink seeks to accelerate blockchain payment of beneficial smart contracts through a simple and impenetrable right of entry to vital off-chain blockchain.
LINK is the native token of the platform. Users can pay Chainlink node operators for the use of LINK tokens. The token is used to finance the growth of the platform and provide an incentive for users to create additional tokens. Staking on Chainlink involves nodes, or members of the network, that deposit liquidity in the form of LINK tokens.
In 2013 Monacoin was created as a hard fork of Litecoin. It does not make use of the Scrypt algorithm like Litecoin. Instead, it implements SegWit on its blockchain. MonaCoin, or MONA, is a digital currency used primarily in Japan. It was set up as a payment network for peer-to-peer transactions.
MonaCoin is frequently used through third-party mobile apps to pay tips, such as in online games, and as payment in some Japanese stores, including online and physical stores.
For more information on Supontis;
Join the presale: https://registrar.supontis.com/registrar
Share this article
do the sharing
About the Author
More information about the author