By EWN •
Published: 07 Oct 2022 • 16:28
Several projects hit the cryptocurrency market daily with the prospects of solving a problem or two in the crypto-verse. A coin that addresses a problem has the potential to become the next big cryptocurrency, and it might be the Supontis (PON) token. Supontis is the super-bridge that ensures the easy cross-chain transfer of assets between networks, including Tron, Fantom, Binance, and Ethereum.
Supontis is solving a problem of interoperability and cross-chain transfer that several crypto users face in the market today. Most blockchain networks were built with different consensus mechanisms and rules that don’t allow the easy transfer of assets. The ones that do allow are plagued with high traffic and exorbitant transaction costs.
An anonymous team of developers created Supontis to help reduce the cost of transferring assets and to foster better collaboration between developers of projects atop various blockchains. The platform runs atop the Binance Smart Chain to provide its users with the best services, from high throughput to low transaction fees.
The scalability potential of a platform like Supontis will help project developers atop ecosystems like Klatyn (KLAY), and Mina (MINA) work better. After all, the blockchain industry aims to work together to revolutionize our world as we know it positively. This would be made possible with the bridging and interoperability features that Supontis offers.
Klatyn, tokenised by KLAY, is the metaverse blockchain for crypto users to work, build, and play in the metaverse. Web 3.0 is evolving, and everything is moving towards virtual reality, making Klatyn a valuable ecosystem currently in the coin market. In addition, Klaytn brings games, entertainment, artists, and everything you love into the metaverse.
Mina is the “lightest” blockchain in the cryptocurrency market. MINA tokenises it and helps eliminate the intermediaries required to run nodes, as you’ll find with other blockchain networks. Moreover, its lightweight will restore the power of decentralisation to crypto users where they get to control their privacy and data by only validating and sharing proofs of their data.
Both ecosystems are valuable and widely accepted in the crypto industry. However, Supontis can potentially gain more users and increase the PON tokens’ value. This is due to Supontis capability to make trading crypto assets much easier between platforms like Mina and Klaytn.
Supontis ecosystem works with a mechanism such that when an asset transfer is initiated, the platform locks the assets in the initial chain and then creates an equal amount of the wrapped assets on the receiving end. So, for instance, if you’re sending PON tokens from one blockchain to another, the platform will lock your tokens temporarily on the blockchain you’re sending from but create an equivalent of the number of PON tokens on the receiving blockchain.
The receiving blockchain will have its assets unlocked such that you can transfer the assets back to the initial blockchain you’re sending from. If you send the crypto assets back to the initial blockchain, the tokens created on the receiving blockchain will be burnt. This entire process is possible through a two-way binding system that ties the value of the created tokens in the destination blockchain to the original ones in the initial blockchain, making them have the same value.
The ecosystem will feature a staking program and function with a decentralised autonomous organisation (DAO) interface for its governance. Supontis uses a proof-of-stake consensus mechanism that’ll allow PON users to support the ecosystem and earn while at it. With Supontis staking, the mechanism locks tokens in some blockchains and pledges those tokens to issue wrapped tokens in other blockchains.
Supontis uses a decentralized autonomous organisation (DAO), meaning decisions and future proposals for the platform will be agreed upon by the network’s users. Purchase PON and become a part of this scalable ecosystem today.
Supontis Token (SUP)
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