Composable Finance: The Future of DApps & DeFi
With the passing of time, the competition upon the blockchain platforms are highly ecstatic. Besides developing their blockchains with constant research, this also proves to be an extremely vital factor for the platform’s native token to survive throughout the market.
In spite of all such competition, now seems the complete future of the DApps (Decentralized Applications) and the DeFi (Decentralized Finance) would be upon the hands of one complete platform, the ‘Composable Finance’.
What Actually is Composable Finance?
Composable Finance is actually nothing but a robust one stop platform for building up all sorts of DApps and DeFi protocols irrespective of the blockchain layers. It establishes itself as a single platform which functions across blockchains as well as different generation layers of blockchain. Apart from this, it is also a hyper-liquidity platform for all sorts of DeFi based protocols.
In addition, the complete Composable Finance platform is being powered by both the Ethereum (ETH) layer 2 as well as the Polkadot (DOT) together.
Furthermore, the epic mission goal of Composable Finance is to establish a solid platform which enables the developers of both DApps and other DeFi services to build their projects such that the users are completely free of any hassle.
What Makes Composable Finance Unique
Taking the DeFi industry into consideration, the industry is still quite complex in nature and obviously not user friendly in many aspects. Moreover, the fundamental functionality of navigating between two or more blockchains and also different generation layer blockchains is still an entangled nexus.
Amidst all this chaos, many competitors are into the race for developing a suitable platform for establishing profuse connections between cross nexus blockchains. However, nothing so far has been quite efficient in any aspects.
Taking all this into account, the Composable Finance’s uniqueness is that its platform could establish multi-functioning and interoperability between different blockchain nexus. Composable Finance is completely into development and launch of various products which enables profuse, absolute and flawless interoperability between different blockchains and different layers.
Key Features of Composable Finance
The Composable Finance operates as a one stop platform for all sorts of DeFi based project attributes. From servicing to funding and also complete assistance are being effortlessly provided through the platform.
All this is possible because of its ‘ecosystem-as-a-service’ business model. In spite of this, the platform could integrate and impose the DeFi industry into the protocol application being developed by the ‘Composable Grants Program’.
Accordingly, the Composable Grants Program not only provides interoperability between various cross-nexus but also grants access to the complete database of Composable Finance.
Inturn, this enables the users with a network of different contacts and firms which are interested with the upcoming projects and obviously ready to fund them in the initial stages.
Furthermore, Composable Finance features epic key products as follows.
The Picasso (PICA) Network
The Picasso (PICA) network is one of the products of Composable Finance. It’s a solid platform for developing decentralized applications. The Picasso network actually is a parachain which in turn is dependent upon the Kusama parachain. All these are part of Composable Finance.
Furthermore, the Picasso consists of the primary two core building blocks, the Apollo and the Cubic.
- Apollo: The Apollo is actually an oracle based pallet to unlock both the primaries as well as secondaries.
- Cubic: The Cubic pallet is a derivative to establish standards for the vault infrastructures in both the Kasuma parachain and the Polkadot blockchain.
In addition, the secordy core of Picasso is the Angular.
- Angular: This pallet under the Picasso of Composable Finance, is completely an isolated lending pair protocol. This pallet is fully into the finances of leveraging, interests on the assets, trading and other such finance attributes.
The third for Picasso is the Tertiaries, which is yet to be launched and is under development.
Apart from this, the network consists of a native token, the Picasso Network token, PICA.
The Mosaic- Ethereum solution
It is evident that at present Ethereum’s Layer 2 is the most advanced blockchain layer for establishing various protocols and projects. In addition, the overall transaction speed and scalability is to the peak with Ethereum’s Layer 2. Also, these are the most preferred by the developers these days.
However, the developers are still having a problem with using only one protocol blockchain at a time with the Layer 2. In order to switch between two different Layer 2 protocols, the developers have to go back to Layer 1.
In spite of all these hardships, Composable Finance puts a full stop to this issue with the ‘Mosaic’- Ethereum solution.
This Mosaic solution enables a bridge between two Ethereum Layer 2 platforms. Therefore, this enables the developers to use more than one and switch efficasely between numerous Layer 2 platforms.
The Mosaic solution enables complete interoperability between two different Layer 2 protocols. Furthermore, using different Layer 2 protocols enables the developers with extreme high transaction speeds as well as low gas fees too.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
