what is berachain

June 21, 2024/in Berachain /by John Ming

Berachain

Berachain builds a high-performance EVM blockchain on proof of liquidity and supports it with the beacon kit framework and it utilizes utilizes Beacon Kit, a modular and customizable consensus layer, to build its EVM-based blockchain.

Proof-of-Liquidity

POL is a novel consensus mechanism that aims to align network incentives, creating strong alignment between validators, ecosystem projects, and everyday users

The Ethereum Virtual Machine (EVM)

EVM is Ethereum’s runtime environment for executing smart contracts, providing a secure and isolated space for running smart contract code on blockchains.

BERACHAINS TOKENOMICS

$HONEY

Honey aims to provide stability within the network as this is its stable coin

$BERA
Governance determines the principal gas token of the protocol, requiring it to be staked as a validator’s activation bond to become an active validator.

$BGT
The Governance Token for Berachain When a validator submits a new block, they are granted some $BGT, which they then distribute to designated delegators and liquidity pools.

DApp ON BERACHAIN

Bex: is the native exchange of Berachain.
Bend: The native loan and borrowing system of Berachain.
Berps: The native implementation of the perpetual protocol in Berachain.
Honey swap: this is the native Berachain’s swap for stable

BERACHAIN FUNDING

By obtaining $100 million in a Series B fundraising round, they accomplished a noteworthy milestone and surpassed initial projections by 45%. This fundraising campaign’s success is evidence of the growing interest in Berachain’s potential and the strong investor confidence. Prominent investors Framework Ventures and Brevan Howard Digital in Abu Dhabi co-led the round

CONCLUSION

To sum up, Berachain is a advancement in blockchain technology that combines its distinct Proof-of-Liquidity mechanism with EVM compatibility. It supports an ecosystem that prioritizes liquidity and tackles the centralization issues that are typical of Proof of Stake systems. The platform’s unique tokenomics highlight its creative approach to economic stability and governance. .

Related Posts:

Latest News

Ripple’s collaboration with the World Bank and its implications.October 1, 2024 - 4:20 am
Introduction Ripple’s groundbreaking partnership with the World Bank marks a significant milestone in the quest for global financial inclusion. This strategic collaboration harnesses blockchain technology to enhance cross-border payments’ efficiency, transparency, and accessibility. Bridging the Financial Divide The World Bank’s primary objective is to promote global economic development and reduce poverty. Its collaboration with Ripple […]
XRP’s role in facilitating fast and cheap transactions for the unbankedOctober 1, 2024 - 4:12 am
Introduction Financial exclusion affects millions worldwide, limiting access to essential services and perpetuating poverty. The unbanked population, estimated at 1.7 billion adults, faces significant barriers to financial inclusion. Traditional financial systems often perpetuate these obstacles, but innovative technologies offer a solution. This article explores Ripple’s XRP token and its transformative impact on the unbanked. Bridging […]
Unlocking Global Financial Potential: Ripple’s Partnership with the International Monetary FundOctober 1, 2024 - 4:00 am
Introduction In a significant move to revolutionize global finance, Ripple has partnered with the International Monetary Fund (IMF). This groundbreaking collaboration combines Ripple’s innovative cross-border payment solutions with the IMF’s expertise in international monetary cooperation. The partnership promises to enhance financial inclusion, streamline payment systems, and foster economic growth. A New Era of Financial Inclusion […]
XRP’s Potential for Use in Cross-Border Transactions for E-commerce PlatformsOctober 1, 2024 - 3:52 am
Introduction The e-commerce industry faces significant challenges in cross-border transactions, including high fees, slow processing times, and limited accessibility. XRP, with its fast, secure, and cost-effective technology, is poised to revolutionize cross-border transactions for e-commerce platforms. The Need for Efficient Cross-Border Transactions E-commerce platforms require efficient payment systems to: Traditional payment systems struggle to meet […]
Ripple’s xVia Technology and its Applications for IoTOctober 1, 2024 - 12:12 am
Introduction The Internet of Things (IoT) has revolutionized the way devices interact and communicate, creating a vast network of interconnected devices. This exponential growth demands efficient and secure payment systems, enabling seamless transactions between devices. Ripple’s xVia technology, designed for seamless transactions, is poised to revolutionize IoT payments. xVia Technology Overview Ripple’s xVia technology provides […]
XRP’s Advantages in Facilitating Microtransactions for IoT DevicesOctober 1, 2024 - 12:02 am
Introduction The Internet of Things (IoT) has transformed the way devices interact and communicate, generating vast amounts of data and creating new revenue streams. Microtransactions, a crucial aspect of IoT, require efficient and secure payment systems. XRP, with its fast and low-cost transactions, is poised to facilitate microtransactions for IoT devices. The Need for Efficient […]