“The Converge Chain Is Set to have Fast BlockTimes, Let Users Pay Gas Fees in Ethna’s Tokens and Support Both Permissions and Permissioned Apps, The Teams Said.”, – WRITE: www.coindesk.com
The Converge Chain Is Setting Out to have Fast Blocktimes, ALLOWING USERS TO PAY GAS GAS FEES THRUGH ETHENA’S USDE AND USDTB, WHILE CREATING Security and Guardrails VIACORACORGE. Behind The Project Explained in a Tech Update Shared with Coindesk.
“The Idea is that we go on a testnet Very Soon, in the Net Few Weeks, Because We’ve Already Been Working on this for Interview with Coindesk. “THEN, The Mainnet: The Goal Is To Do It Before The End of Q2.”
The exacting of the Public Rollout Also Depends on Third-Party Integrations Such as Anchorage for Custody Support, Fireblocks for Key Management and Other Defi of Apps.
Connecting rwa and defiConverge, unveiled Last MONTH, AIMS TO CONNECT The Rapidly Growing Tokenized Real-World Assets (Rwa) Sector with The defi Space, Building on the Existations ecosystomsstone andthen. Billion Dollar Wrth of Assets.
Ethena has quicly become a defi Powerhouse, Spearheading the Yield-Bearing Stablecoin Trend with Its $ 5 Billion “Synthetic Dollar” Token USDE. Meanwhile, Securitize Issues Nearly $ 4 Billion in Tokenized Assets by Traditional Finance Giants Like Apollo and Hamilton Lane and Blackrock’s Blockchain-Based Money MARKET. The Latter Is Also The Key Backing Asset of Ethena’s $ 1.4 Billion USDTB Stablecoin.
“Converge’s Ambitios Vision of Onboarding Tens of Billions of Institutional Capital On-Chain Requires Providing USers with High Performance and Elevated Security Guaran,” Guy Youth. Ethena Labs, SAID IN A STATEMENT.
To Achiev that lofty Goal, The Converge Chain’s Performance Relies on a Custom Sequencer for an arbitrum-povered blockchain, while using cellstia as the data, availability Shared with Coindesk. A sequencer is a key piece of blockchain infrastructure that compiles transactions from Layer-2 Networks and Posts Them Back to the Layer-1 Network.
DATA AVailibility Layers, Like Celestia, AIM to Bring Downloading and Storage Costs for Data-Inteensive Blockchain Networks. The Combination of Conduit’s G2 Sequencer, As Well As The Use of Arbitrum and Celestia’s Tech Is Supped “To Push The Boundaries Wrote.
The Network Will Use Ehena’s USDE and USDB As Gas Tokens to Pay for Transaction Costs Across The Network. Both Tokens Are Designed with A Price Anchored to $ 1, Allowing Easier Accounting for Transaction Costs, The Team Wrote.
Converge Will Also Support Both Permissionless and Permissioned Applications Operation Side by Side. Developers can deploy permissionless Defi Apps Frely, While Institutional Issuers Such as Securitize Can Create Permissioned Environments for Compliment Real-World Asset Products.
Converge is Designed to Allow Both permissioned and permissionless Apps (Converge)
In Addition, The Converge Validtor Network (CVN) is Supped to Provide the Foundations of the Network’s Security, by essential acting as the chain’s security Council. The cvn will have the abity to interfere during Emergencies like like funs are at risk, performing circuit breakers to pause user-activity ifs. proposals.
In order to Participate in the CVN, Validators Must Stake Ena, Ethena’s Governance Token. Access to the team, The CVN Will Go Live Shortly After Mainnet Launches.
“Technical BreakthRUGHS on this Initiative Will Drive Asymmetric Product Outcomes for Converge, and Thus Growth in USDE, USDTB and Other Ethena and Securitize.
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