The post What Is a Space Bridge And How Toon Finance is Changing The DeFi Game? appeared first on Coinpedia Fintech News
The DeFi (or, decentralized finance) industry has been rapidly evolving in the past few years. In 2022, the industry has witnessed a lot of revolutionary techs that have helped shape the way forward for the DeFi game. Toon Finance, currently, is at the forefront of bringing a wide variety of tech upgrades and changes to the DeFi game.
One of the most-awaited techs is the Space Bridge being developed by the industry’s current favorite Toonie-meme coin – Toon Finance or TFT. Let us look at the Space Bridge and all the things one can do with it plus all the ways in which it is surely going to change the DeFi world forever.
Well, if you are active in the crypto industry, you must obviously have heard of the super cute, Toon-inspired Toon Finance Coin or TFT. It is the hottest meme coin on the block right now and the community is going crazy behind it with more than 3 million dollars sold in just the first week of its Initial Coin Offering (ICO).
Toon Finance is a lot more than just a coin. They are creating a Toon-powered ecosystem that involves a crypto token, metaverse, games, NFTs, and, even, a cross-chain bridge known as the Space Bridge. The big, fat ecosystem being created around the coin is the major reason why everybody is pumped up about it and the value it can unlock very soon.
As described by the team behind Toon Finance – a space bridge is a solution for our future that enables communication and interoperability between two separate blockchain networks. In other words, it allows for the exchange of value or data between the two connected blockchains.
Toon Finance is bringing to you a Toon Space bridge that can be used to connect different protocols, assets, or applications. For example, you could use a bridge to connect an Ethereum app to a Bitcoin blockchain.
This would allow users of the app to transact using both BTC and ETH. It promises convenience, security, and an enhanced user experience.
Space Bridge is created through the use of smart contracts and can be used for purposes such as atomic swaps, transferring value between chains, connecting DEXs, and more.
In other words, a space bridge is a cross-chain blockchain bridge. It has a lot of use cases and can revolutionize the world of decentralized finance.
A cross-chain bridge connects independent blockchains and enables the transfer of assets and information between them. Using a cross-chain bridge, the user can easily access a wide variety of protocols.
So, basically, blockchains cannot communicate with each other. For example, you cannot pay in BTC on an Ethereum platform, and, vice versa. This was not really a big problem until some time back when the crypto ecosystem developed beyond imagination.
Now, today, in an ever-growing ecosystem where people are using multiple cryptos and have funds parked in a variety of tokens, it becomes essential to have a bridge or some other tech that will help establish a communication link between these tokens.
Wanchain, launched in 2018, was one of the earliest cross-chain bridges. Ever since, a lot of cross-chain bridges have come up and they are able to transfer assets from one blockchain to another seamlessly. It has helped users in more ways than one.
Now, Toon Finance, the hottest meme coin on the block, is on the cusp of introducing its cross-chain bridge, called Space Bridge. Here are all the deets on it and more!
There are quite a few centralized bridges out there. However, they function almost exactly like an exchange. Users are expected to deposit their cryptos into a centralized platform which will then act as the facilitator for any and all trades that are being conducted.
While people still flock to these exchanges, there is a big drawback to them as well i.e. the lack of adequate security.
Yes, the speed and efficiency of these networks are pretty decent, however, if you weigh it against the cost of security – it doesn’t seem like a sweet deal. These centralized exchanges basically act as the custodial agents of your crypto. They exercise a degree of control over every user’s funds.
Thus, your crypto tokens are vulnerable if anything happens to the exchange. And, even, to malpractices, if practiced, by an exchange. They also charge high deposit and withdrawal fees which considerably reduce your profit on every trade.
Enter Toon Finance Space Bridge.
To resolve all such problems and to simplify the DeFi game forever, Toon Finance is introducing the Space Bridge, a one of its kind, complete solution. It will change DeFi and the way it works forever.
A decentralized cross-chain bridge, called a Space Bridge, will allow users to transfer funds on either network without any hassle. You will not be required to share your name, government-issued ID, or your social security number. You have the right to remain anonymous and maintain your privacy to the fullest.
All you need to access and use the Space Bridge is a wallet address. Yes, just a wallet address and you can do anything you want on the Space Bridge.
The crypto industry is probably the fastest-evolving market out there. Almost every other day there is some kind of innovation or tech upgrade that changes the way the market behaves. Since the industry is still in its infancy stage, it is but natural that there will be lots of different things happening every other day.
The year 2022 was exciting due to various reasons such as –
Going forward in 2023, we expect to see a lot of new technological upgrades and advancements in the crypto industry. In fact, experts believe that 2023 could be a game-changing year for the industry and even the markets (which have been in the throes of a bear run for quite some time now) could gear up for a breakthrough.
Major coins like BTC, ETH, and, even, meme coins like DOGE and SHIB look poised for a massive breakthrough in the coming year. The coming year promises to be quite an excitement in more ways than one for the crypto world.
On the tech front, you can expect to see some amazing developments. Some technologies to look out for in the year 2023 include –
These are some of the technologies that we see growing big in 2023. It could make the year quite exciting for all of us in the crypto industry and beyond. It will also be able to make some big, long-lasting changes that will shape the whole DeFi game as we go forward.
The Toon Finance Coin presale is still live. It was launched on 10th October 2022 and within the first week itself, it sold out over 3 million dollars worth of Toon Finance Coins. Ever since then, it has been selling out like hotcakes. However, you can still get some presale action.
Here are some simple steps to buy a few TFT Coins –
You can get your share of the cute, little Toonie coins by following these quick and easy steps. The presale is still going on, however, it might not last long considering the rate at which it is selling out. So, buy your share of TFT Coins while you still can!
Toon Finance Coin Presale / Toon Finance Website / Toon Twitter / Toon Finance Team
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