Hashbon Rocket Launches Its CDEX-Platform for DeFi
Hashbon FiRe (Finance Reinvented), a cryptocurrency payment platform, has expanded its services to decentralized finance (DeFi). With DeFi’s growing market size, crypto projects such as Hashbon FiRe rush to render fully...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Hashbon FiRe (Finance Reinvented), a cryptocurrency payment platform, has expanded its services to decentralized finance (DeFi). With DeFi’s growing market size, crypto projects such as Hashbon FiRe rush to render fully decentralized traits such as cross-chain token exchange and liquidity pools at the first stage of their newly released MVP.
Hashbon Rocket will be beneficial because it addresses market concerns such as rising Ethereum gas prices, blockchain incompatibility, and complete control over your assets. In addition, these services are helpful for users with limited capital, as a 3 USD transaction fee makes no sense for a 10 USD transfer.
Besides, many new blockchains have emerged in recent years, causing a crypto holder’s portfolio to clutter up across multiple blockchains. As a result, exchanging these tokens has become difficult. On the other hand, Hashbon Rocket will simplify things for those users to exchange unsupported tokens with just a few clicks.
What is Hashbon Rocket and What it DoesOn September 9, 2021, Hashbon’s ecosystem launched Hashbon Rocket CDEX. Hashbon Rocket is a cross-chain decentralized exchange (CDEX) platform that calls itself the ‘first cross-chain DEX.’
The new platform solves the BEP-20 tokens for the ERC-20 tokens exchanging issue based on a decentralized finance approach. Furthermore, unlike traditional decentralized exchanges that support intra-chain token swaps, Hashbon Rocket will execute inter-chain token trades.
Hashbon Rocket CDEX-platform executes token exchanges between the Binance Smart Chain (BSC) and Ethereum blockchain systems. Still, it can further expand to include other Ethereum Virtual Machine (EVM) compatible blockchain protocols.
The platform uses a proof-of-stake consensus mechanism in which arbiters make decisions. Their strength is proportional to the number of HASH tokens they possess: the greater an arbiter’s HASH token’s number, the greater his reward for a correct vote. The penalty for an incorrect answer is also higher. The developers decided on a Proof-of-Stake as a green alternative to the Proof-of-Work consensus algorithm to ensure secure transactions via an arbiter infrastructure.
The exchange’s goal has always been to provide crypto enthusiasts with easy access to an ecosystem that facilitates crypto transactions. In addition, Hashbon offers complete crypto payment services to business and individual users globally in the DeFi and CeFi sectors.
The post Hashbon Rocket Launches Its CDEX-Platform for DeFi first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This blockchain story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Onchain equities surpass governance tokens in user engagement as tokenized stock trading explodes
The rapid rise of onchain equities highlights a shift towards decentralized finance, but reliance on a single platform poses syste...
Tokenized ETF deposits into DeFi venues surge 19x to $68M
The surge in tokenized ETF deposits into DeFi highlights a shift towards integrating traditional finance with decentralized platfo...
Audited DeFi protocols lost $885M to attacks that occurred completely outside their audit scopes
In decentralized finance, “audited” is often presented as a verdict on an entire project. In practice, an audit usually covers nam...
Why Nasdaq surveillance cannot settle the fight over 24/7 tokenized markets
Nasdaq's agreement to invest $100 million in Payward, Kraken's parent company, adds a planned surveillance rollout to a push into...
Tokenized stocks traded over $1B on Solana, Robinhood Chain, BNB Chain, and Base during Labor Day weekend
The rise of tokenized stock trading on decentralized platforms highlights a shift towards 24/7 global financial markets, challengi...
Blockstream bets 600 Bitcoin by rejecting Liquid hacker’s $50 million bounty demand
Blockstream is refusing to pay the Liquid attacker nearly 600 Bitcoin (roughly $50 million), escalating a dispute over how the cry...