Introducing MahaChain, The DAO-Powered Blockchain by MahaDAO
MahaDAO, a decentralized autonomous organization, recently announced the launch of MahaChain, a revolutionary blockchain with built-in robust economic policies powered by smart contracts.
Bearing a resemblance with policies issued by a Central Bank, MahaChain implements different economic policies, such as quantitative easing, buybacks, interest rates to promote and boost the growth of dApps within the MahaChain ecosystem in a decentralized environment.
MahaDAO is a name synonymous with decentralization that takes a community-centered approach to pave the way for a new and better financial world with a fair, non-concentrated reserve of wealth. The launch of MahaChain will further the vision of MahaDAO and create a scalable, secure, and decentralized blockchain network.
MahaChain – The DAO-Powered Blockchain with built-in Economic Policies
The MahaChain is set for launch in the first quarter of 2022, with the testnet launch set in January 2021. Moreover, the economic policies will be coded into MahaChain in early 2022 in a whitepaper written jointly by Steven Enamakel (MahaDAO Creator) and Suhas Kulkarni (Economist). The introduction of economic policies will help MahaDAO effectively create and govern a fully decentralized economy.
MahaChain is an EVM-fork that uses a Proof-of-Stake consensus algorithm initially conceptualized by the POSDAO. Moreover, the blockchain will initially support 100 validator nodes elected through a decentralized voting mechanism involving the $MAHA token holders. With this dual-token design, the role of $MAHA will increase further as a Proof-of-Stake token used to govern and secure $ARTH.
Following the launch of MahaChain, MahaDAO will open its gate to the world of DeFi, NFTm Gaming, and dApp builders. Users can now deploy their dApps on MahaChain and receive MAHA tokens as economic rewards. However, the primary focus of the blockchain remains on the high inflation countries like Venezuela, Argentina, Turkey, etc. Residents of these countries can interact with an inflation-proof stable currency and simultaneously invest and interact with projects built on MahaChain.
MahaChain is unique and takes a different approach than other layer-1 EVM chains in the industry. It will support interoperability on the day zero itself with several bridgers to help users interact with dApps and tap onto the liquidity on the other blockchains such as Ethereum, Polygon, BSC Chain, from MahaChain.
Read more: https://dailycoin.com/introducing-mahachain-the-dao-powered-blockchain-by-mahadao/
Text source: DailyCoin.com
