Bitcoin (BTC) and VertoChain (VERT):
Decentralised finance (DeFi) was first introduced to our society through Bitcoin (BTC), the first cryptocurrency to enter this world, which over the years, saw massive success. Whilst crypto users may not see Bitcoin to be a DeFi project, it did however prove that individuals around the world can make financial transactions without the need for a bank or financial institution.
Since Bitcoin blew up and became common with individuals worldwide, many crypto projects have been released since, looking for the same level of success as Bitcoin has. With the DeFi sector growing, new project VertoChain (VERT) is one of the latest DeFi projects to enter the market and seems to be on its way to help shape the future of finance.
Bitcoin was the first cryptocurrency, or digital asset, which eliminates the need for a third party to be involved in financial transactions by acting as a means of payment independent of any one person, group, or entity. It is available for purchase on numerous platforms and is given to blockchain miners as compensation for their efforts in verifying transactions.
Launched in 2009 by an anonymous creator who goes by Satoshi Nakamoto, Bitcoin is now the most successful cryptocurrency to exist as it sought big success over the years. Numerous additional cryptocurrencies have been developed as a result of its popularity.
The release of Bitcoin was a big milestone within the financial industry as it was the first project to prove that digital currencencies have the potential to replace the currencies we are used to such as USD and GBP. Additionally, a user does not need to provide any personal details to become a crypto/BTC user which is very different to how banks work. People who have tough financial or living situations face struggles when trying to open a bank account, but with crypto, there is no worry.
VertoChain is a new DeFi project to enter the market and is built on the Binance Smart Chain (BSC). Usings a Proof-of-Stake model for fast and effective transactions, BSC is good as its transaction costs are 35 times less expensive due to its decreased network congestion and quick authentication times.
BSC is a smart contract programmable network that is also compatible and interoperable with other blockchains. This facilitates the transfer of digital assets between blockchains for potential users and enhances blockchain interoperability, both of which strengthen VertoChain.
The integrity of the source code, the host blockchain, and developer support are just a few of the many aspects that go into making a protocol secure. Through its interaction with the Binance Smart Chain, VertoChain checks this criteria. There is a huge developer community since decentralised apps are built using the same solidity programming language as the Ethereum network.
Despite being in its early stages of progression and development, VertoChain is a project that has a clear, strong plan in place to help adopt the DeFi sector and strengthen it as a whole. With the support of BSC, there is potential for VertoChain to do well and see long term success. Furthermore, if you wish to purchase VERT tokens, you can sign up through Bitcoin to earn 9% in rewards.
Learn more about VertoChain (VERT)