DeFiChain

<a href="https://defichain.com/" rel="noopener noreferrer nofollow">DeFiChain</a> has gained prominence within the blockchain community over the past few years, claiming the title of the world’s leading PoS blockchain on the Bitcoin network. While using Bitcoin’s security, DeFiChain brings decentralized financial transactions and services to the consensus level of the network. Its safe, flexible, and reliable environment is perfect for building on Bitcoin.At present, DeFiChain has amassed over <a href="https://defiscan.live/" rel="noopener noreferrer nofollow">$300 million in TLV</a>, demonstrating the fervent community interest in the project. Alongside the blockchain’s core offering of decentralized asset tokens, staking, liquidity mining, and decentralized loans, it has upped the ante with the innovative DeFi Meta Chain.Yes, DeFiChain is ready for more. They have recently announced the release of DeFi Meta Chain, which will incorporate world-class interoperability into the project. With this, and a range of other future-forward features currently in development, DeFiChain is gearing up to have a transformative 2023.In this article, we’ll turn to DeFi Meta Chain, outlining what it is, what it does, and why it has individuals from across the blockchain community expectantly watching DeFiChain.Let’s jump right into it.<h2 id="header-0">Why Is DeFiChain Launching the DeFi Meta Chain?</h2>DeFiChain has already surpassed many of its competitors when it comes to the total value locked (TVL). Yet, this blockchain was created as a hard fork from Bitcoin, meaning that it is not EVM compatible. This, combined with DeFiChain’s non-Turing complete nature, makes it extremely difficult to act interoperably with other blockchains.There’s no denying that the future of blockchain is interoperable; the need to exchange data and value across chains will only continue to increase as adoption rises. DeFiChain has recognized this opportunity and is now putting plans into motion to ensure they’re at the forefront of this interoperable future.The current offering of DeFiChain is almost unparalleled in usage. It’s a cutting-edge native decentralized finance system for Bitcoin and offers a range of phenomenal services. Its priority of furthering the ecosystem by making it interoperable will only serve to increase the chain’s market dominance even more.In fact, building an interoperable system has been a central objective of DeFiChain for quite some time. In November of 2021, a DeFiChain Improvement Proposal identified this issue and outlined it as an issue the community should work to overcome. The proposal received almost unanimous support, with 92% of the community voting in favor of working on EVM compatibility.After a year of work, the DeFi Meta Chain is the team’s response to the vote, providing this blockchain with a new EVM layer and much more.<h2 id="header-1">What is DeFi Meta Chain?</h2>DeFi Meta Chain, also known as DMC, is a proof-of-anchor blockchain built on top of DeFiChain. Its connection to the original chain allows both DeFiChain and DMC to sustain the world-class security that Bitcoin provides. Yet, the DMC introduces EVM compatibility, boosting the potential of the DeFiChain system.With this layer, DeFiChain is able to work interoperably with other chains, fostering new cross-chain links. A primary link that has already been formed is with Ethereum, the <a href="https://www.stateofthedapps.com/stats" rel="noopener noreferrer nofollow">market leader for DeFi environments</a> and smart contract deployments. DeFiChain’s newfound interoperability will allow developers to access tools, infrastructure, smart contracts, and support from other ecosystems via the EVM environment.DMC also removes previous limitations in regard to building dApps and deploying smart contracts. Any code bases that have already been deployed within Web3 are able to be used within DeFiChain, thanks to the Turing-complete nature of DMC. Developers now have the perfect user-friendly environment to <a href="https://github.com/DeFiCh/metachain" rel="noopener noreferrer nofollow">build new dApps.</a><h2 id="header-2">Going Beyond EVM: Full Web3 Compatibility</h2>DMC goes beyond just EVM compatibility. It also pushes the bounds and offers full Web3 integration, providing compatibility for the entire Web3 ecosystem. Whether it’s web wallets, NFT projects, Metaverses, or other dApp deployments, DeFi Meta Chain can interact with it all.Using containerization, DMC seamlessly integrates different nodes from distinct networks, building new routes for DeFi protocols. Whatever a developer wants to build within the Web3 system, the instantaneous ‘pathfinder’ ability of DMC will provide a clear path to achieve it.For seasoned developers, this will allow them to push what they can achieve with Web3 even further. For those just getting into the space, DeFiChain allows for easy onboarding for a seamless beginning in blockchain.<h2 id="header-3">Final Thoughts</h2>With innovation at its core, this project is already looking to the future. The cross-chain connection to Ethereum allows developers to keep in line with cutting-edge developments within the world of blockchain. Whatever changes occur, whether they’re related to the industry as a whole or a segment like DeFi, GameFi, or Web3, DMC will be ready.The future-proof system that DeFiChain has constructed with their newest release is impressive, to say the least. Innovating their native architecture, DeFiChain expands from their robust base into uncharted territory. As they further push the usability of their system, they reinforce the public perception that they’ve gained for being at the forefront of this field.As DeFi Meta Chain begins to materialize, we expect to see DeFiChain move from stride to stride.The future looks bright for DeFiChain.

After Building a Robust Foundation, DeFiChain Is Getting Future Ready With DeFi Meta Chain

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DeFiChain

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