Even though Decentralised Finance (DeFi) has been around since 2017, its popularity has soared over the past two years. The total value locked (TVL) soared from $9.576 billion two years earlier to $75.464 billion by April 22, 2022.
In addition, the ecosystem is expanding rapidly in terms of projects, developers, and user acceptance. Numerous projects have been released and grown in the DeFi network, resulting in a cleaner, more intuitive user interface and a larger value locked by investors.
In this article, we will examine a newly introduced cryptocurrency network called Mountanaz (MNAZ) in order to determine what advancements could be made in the future based on Avalanche (AVX)‘s scalability and efficiency.
Emin Gün Sirer founded AVA Labs to create and develop the Avalanche (AVAX) blockchain.
Through its ICO, Avalanche (AVAX) raised $42 million in July 2020. The project has continued to attract investments ever since.
Avalanche’s smart contract platform allows decentralised applications (dApps) to run on its network.
It is built using three different blockchains to address the limitations of the blockchain trilemma of scalability, security, and decentralisation.
As part of Avalanche’s native token, AVAX, the Exchange Chain (X-chain) is where assets are created and traded. The Contract Chain (C-chain) enables smart contracts to be created and executed. The Platform chain (P-chain) coordinates validators and allows for the creation of subnets.
Different functions can be accomplished within the ecosystem by moving digital assets across each chain.
Furthermore, by integrating several decentralised finance (DeFi) ecosystems, including well-established projects like Aave (AAVE) and Curve (CRV), and writing smart contracts in Solidity, Avalanche aims to offer greater interoperability between blockchains.
Its goal is to create a scalable blockchain network that is secure and decentralised yet focuses on low costs, fast transaction rates, and environmental awareness.
Moreover, it can process 6500 transactions per second with sub-second accuracy, a huge improvement over Ethereum (ETH).
With Mountanaz (MNAZ), DeFi is brought to a broader audience through a set of decentralised tokens.
As Ethereum (ETH) and its derivatives are driving the DeFi world, Mountanaz (MNAZ) adopts the Binance smart chain (BSC) to ease asset transfer between its networks. This helps grow Mountanaz’s stature within DeFi and smoothen the cross-carpeting of investors.
Although several DeFi platforms have developed, many cryptocurrency users still use centralised exchanges and systems.
To address the deficiencies of the existing DeFi platforms, Mountanaz (MNAZ) proposes to build an efficient, simple, and intuitive DeFi ecosystem for tokens and digital assets within the crypto space, with minimal transaction fees.
Mountanaz’s (MNAZ) ecosystem is different from many available in the DeFi sector, thanks to its originality in upgrading the few entry points previously used by adversarial players.
Due to substandard services offered by traditional financial institutions, storing financial assets has become increasingly expensive over time.
Smart contracts were introduced using blockchain technology, transaction protocols executed on blockchains to automate transactions like lending, borrowing, investing, and trading.
As a result, Mountanaz (MNAZ) holders no longer rely on an intermediary, making storing, trading, or investing their assets on the blockchain extremely inexpensive.
In addition, Mountanaz (MNAZ) has a well-planned governance structure, which allows all stakeholders to provide input into the ecosystem. To begin with, the development team advances the project toward long-term viability until they are confident the community is strong enough to go independent or under close guidance from the Treasury Community.
With its upcoming token listing, they have also taken preventative measures not to manipulate the token valuation through massive buy-ins and sales.
In the DeFi space, where MNAZ looks to be a specialist, have the opportunity to become truly enormous.
Currently, the cryptocurrency industry is undergoing consolidation and regulation, leading to wider adoption.
Avalanche (AVAX) may be acquired as a part of a diversified portfolio to benefit from the next phase of the cryptocurrency revolution.
Mountanaz (MNAZ), on the other hand, looks vey interesting, and Crypto enthusiasts would be advised to invest in its developmental phase to gain maximum profits.
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