- Crypto News
- DEFI for the real world
DEFI for the real world
- What is the BHO chain?
- The features of BHO Network to the users
- 1. The public blockchain opens for everyone and is interoperable.
- 2. BHO that benefits the users.
- 3. High speed and low fees.
- Key points recap
First and foremost, let us understand the term "DEFI."
Decentralised finance, abbreviated as DEFI, is a blockchain-based financial technology. Because it is built on blockchain, it does not depend on any central financial institutions including brokerage firms, exchanges, or banks to provide traditional financial instruments, alternatively relying on smart contracts on blockchains that are open to everybody. Users on the DEFI blockchain network can lend or borrow from others, trade cryptocurrencies, convert their assets into NFT, earn interest by staking tokens, and such!
In summary, DEFI is a new technology that has emerged as a solution to the issues and limitations that hampered traditional financial infrastructure. Because of the growth of the internet and digital technology, everyone in the world now has access to all of the DEFI applications that provide unique services and value.
What is the BHO chain?
The BHO chain is a blockchain specialized in decentralized financial (DeFi) applications and non-fungible coins (NFTs). Our chain not only enables unprecedented high transaction throughput and reduced error risk, but it also supports intelligent feature creation explicitly for the fulfilment of financial services for both fungible tokens and non-fungible tokens (NFT) by leveraging the blockchain's unique properties.
BHO Network is cross-chained with other digital asset economies and has a direct connection with other Defi networks such as Binance, Ethereum, and Polkadot. Furthermore, BHO Network functions as a hybrid model to accelerate traditional finance, allowing network participants to register their real-world assets on-chain using NFTs.
The features of BHO Network to the users
People will soon find themselves immersed in the DEFI world since the revolution has already begun with the rise of the internet and digitisation. BHO Network is a project that attempts to speed the adoption of DEFI while simultaneously serving as a bridge for the public. So, what are the characteristics of the BHO chain that will allow this to happen? Let's take a closer look at the BHO chain and what it offers!
1. The public blockchain opens for everyone and is interoperable.
Globally, SMEs face challenges in getting financing. The problem is even more so in emerging markets such as Southeast Asia, as a lack of banking infrastructure makes it harder for SMEs to access credits from the banks.
BHO chain is a public blockchain that allows enterprises, banks, SMEs, and large corporations to digitally tokenize their assets. The network provides a seamless user interface that allows anyone to deposit digital assets in order to earn returns. Investors will have the privilege and priority in capturing lucrative dividends and participating in the BHO ecosystem, which interconnects with other blockchain networks in the market such as Binance, Ethereum, Bitcoin, Polkadot, and others, thanks to the BHO staking algorithm.
Eventually, everyone in the world will be able to access the same and only crypto market. People will be able to tokenize their assets and achieve amazing things together with BHO Network's DEFI solution.
2. BHO that benefits the users.
A token that is required and present in the DEFI ecosystem in order for wonderful things to happen. The BHO Network token (BHO) will be a digital asset that stores assets, generates yield (interest), and gives users access to an open lending network.
The digital asset BHO signifies its owner's right to vote on economic factors such as inflation and deflation levels. The voting rights of BHO token owners will be determined via a blockchain network protocol called Black Hole depending on several parameters. Through multiple incentivizing methods and business models, Black Hole will create value for BHO token owners.
3. High speed and low fees.
High gas expenses have been and continue to be a major issue and impediment for DeFi protocols. Not only do speeds affect user experiences in a high-demanding world, but lower transaction speeds constitute a pain point for DEFI users.
As a result, BHO Network will offer native stable coins on its own network for cheap transaction costs and quick settlement. That is our commitment to the community. Because there is no riddle to solve when using PoS systems, blocks are produced significantly faster than in PoW networks. BHO Network employs a PoS extension known as Nominated Proof of Stake (NPoS).
Key points recap
- The BHO chain is a blockchain specialized in decentralized financial applications and non-fungible coins (NFTs).
- The BHO chain is a public blockchain that allows enterprises, banks, SMEs, and large corporations to digitally tokenize their assets.
- The BHO chain is interoperable, cross chained with various digital asset economies with direct integration with the other Defi networks such as Binance, Ethereum, and Polkadot.
- The BHO Network token (BHO) will be a digital asset that stores assets, generates yield (interest), and gives users access to an open lending network.
- The voting rights of BHO token owners will be determined via a blockchain network protocol called Black Hole.
- BHO Network will offer native stable coins on its own network for cheap transaction costs and quick settlement.
If you would like to know more about the BHO ecosystem, feel free to visit our website or join the community channel together with us and learn more about the project!
Follow us for more exciting news!
BHO Network website: https://www.bholdus.com/
BHO Network Telegram Channel: https://t.me/Bholdus
BHO Network 🌍 Global Community: https://t.me/Bholdus_ENcommunity
BHO Network Facebook: https://www.facebook.com/bholdus/
BHO Network Twitter: https://twitter.com/bholdus
BHO Network LinkedIn: https://www.linkedin.com/company/bholdus
Published on August 31, 2021
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