- Category: Cryptocurrency
- Coin Launched: June, 2019
- Resources: White Paper
- Official Website: BiFrost
- Reddit: BiFrost
BIFROST History / Information / Buying / Staking
Founded on March 14, 2016, PiLab, a research-oriented software provider, was started by two professors to develop blockchain applications to solve social issues and business problems. In the process, they saw the potential and limitations of blockchain technologies. There were many protocols, all with their own strengths and weaknesses, and no way to combine them. So they created Bifrost, a technology platform that allows developers to easily build on multiple blockchains that truly enables multichain technologies.
HOW BIFROST WORKS
Bifrost is a multichain middleware platform that enables developers to create Decentralized Applications (DApps) on top of multiple protocols. Not restrained to a single blockchain, Bifrost creates a new environment where developers can combine the best protocols to develop substantially more scalable and flexible DApps.
BENEFITS OF USING BIFROST
Some of the benefits of using Bifrost are:
The BNC can be used for on-chain governance of the protocol, as well as participation within the technical committee, Treasury allocation, node election, and other on-chain governance functions.
The participating nodes will have to perform staking in order to gain voting power within the network, while increasing the cost of Slash. The Slash guarantee will increase or decrease based on the node's performance score.
The BNC used to pay the commission will be sent to the Treasury for subsequent administration and distribution.
CAN YOU STAKE BIFROST
liquid staking is available on Bifrost platform earn up to 20% APR
COINS SIMILAR TO BIFROST
Bifrost's top competitors include Scale AI, MCA140, Natural Intelligence Systems and Iterative.