In the cryptocurrency world, you face a lot of uncertainties: Will I get my money back if I invest? How can I trust the exchange I’m using? What is the price of my cryptocurrency today? Will the price change tomorrow? Will the price be high or low in a year? These are just a few questions that come to mind when you think about cryptocurrency. For most people, these questions are just too much to handle and they end up choosing not to buy cryptocurrencies. However, the future of blockchain technology brings a lot of hope, and a lot of progress. What you’ll find at the treasury is a lot of information about different projects and their different underlying technologies, as well as the teams behind them. We want
Of all the blockchain projects in the market right now, the most promising is Dash. Dash provides an innovative solution to the banking problems of the world by incentivizing network participants for their contributions and removing the need for trust in third parties. While Dash has been around for a while now, we are happy to share with you that we are signing the first-ever partnership with a financial institution for Dash. However, this partnership is not just a financial one; it is also one of the most interesting and ambitious in the blockchain industry.
Recently, we posted about the recent partnership with the Horizon Protocol and its Roadmap. This is a great step forward for all of us, at Dash Treasury, in ensuring that we can continue to develop our platform with care and diligence to ensure that it can remain reliable and keep our users safe. This was a great partnership, and we hope that we have the opportunity to do this again in the future.
Horizon Protocol is a DeFi platform that allows for on-chain trade of synthetic assets that mimic real-world assets. Horizon Protocol aims to use smart contracts on the blockchain to reveal real-world asset risk/return characteristics. Let’s have a look at the technological stack they’re looking to implement.
Binance Smart Chain & Horizon Protocol
Binance Smart Chain (BSC) was launched by the Binance Chain community just in time for the decentralized finance (DeFi) movement, at a time when the public was becoming more interested in blockchain-based alternative financial solutions.
Since then, the BSC has sponsored a slew of successful projects and has established itself as one of the most well-known DeFi platforms available. One of the most recent crypto success stories is the emergence of the BSC.
With the introduction of Binance Chain, DeFi projects and the larger blockchain community can focus on the numerous advantages Binance Chain provides, which are bolstered by smart contract provision, cross-chain interoperability, and other services. All dApp companies and developers have been warmly invited by the Binance Chain and Smart Chain communities to enter this new sector.
Horizon Protocol users may look forward to a number of benefits.
- A thriving and expanding digital asset network
- Transaction costs are reduced to as little as 1 cent.
- Powerful scalability and speed
- DeFi solutions that work across chains to improve DeFi interoperability
- A Binance network that supports and bootstraps a variety of DeFi initiatives.
- Binance DEX and Binance.com have a rapidly growing network of millions of users.
Pancake Swap & Horizon Protocol
PancakeSwap is a decentralized exchange that allows you to buy tokens and cryptocurrencies without going through a middleman, allowing you to keep control of your money at all times. It is based on a Binance Smart Chain-enabled automated smart contract.
PancakeSwap eliminates the need for centralized market brokers, enabling other users to receive remuneration in their place. If you are willing to stake your tokens for a period of time, the returns may be substantial, particularly with certain staking claims and liquidity pools. On Pancakeswap, the current APY for HZN-BNB is 70%, whereas the HZN-BNB LP pool on Horizon Staker is 120 percent.
When you trade on Horizon Protocol, you immediately get these advantages.
UniSwap & Horizon Protocol
UniSwap is an Ethereum-based completely decentralized system for automatic liquidity supply. Horizon Protocol supports cross-chain interoperability possibilities for all users by using Binance Smart Chain as its genesis blockchain. Horizon Protocol aims to make a UniSwap pool possible in order to connect the Ethereum blockchain.
Chainlink Protocol & Horizon Protocol
Horizon Protocol makes use of one of several Oracles, Chainlink Protocol. It’s a decentralized Oracle network that connects smart contracts on the blockchain to real-world data.
Smart contracts are blockchain records that are described as sealed systems that use rule-based ways to connect to external data sources. Smart contracts analyze data and begin working automatically if certain conditions are met. The LINK token is a digital asset token that is used to pay for services on this network.
Chainlink Protocol serves as a link between the outside world and the Horizon Protocol region.
Band Protocol & Horizon Protocol
Horizon Protocol is using Band Protocol as another popular Oracle for its platform. In a future where data is critical, blockchain Oracles like Band make decisions by providing accurate data to smart contracts and decentralized applications.
It operates in the same way as the other Oracles using Horizon Protocol. It improves data accessibility and security.
Phoenix Oracle & Horizon Protocol
Horizon Protocol has partnered with Phoenix Protocol as a strategic partner. Phoenix Oracle offers a proprietary data pricing feed. Stocks, non-US market indexes, and tangible assets like real estate and artwork will all be available to retail investors.
Phoenix Oracle specializes in delivering tangible asset-based on-chain pricing feeds. The PHB utility token is used by node operators to verify real-time pricing feeds.
Phoenix Global token holders may stake PHB tokens on Horizon Protocol and get HZN tokens in return.
Conclusion
Horizon Protocol allows for the development of synthetic assets that mimic the real-world economy, as well as synthetic crypto assets from different blockchains and new asset classes (such as fractionalized NFTs). Binance Smart Chain is the foundation for achieving this goal and solving current issues with the Ethereum blockchain. Horizon Protocol has carefully chosen the technological stack it will employ to enhance its system, including blockchain bridges that seek to be blockchain agnostic and oracle partners who provide synthetic asset price feeds.
We’re excited to see what Horizon Protocol can accomplish as the platform develops, as well as its acceptance in the BSC ecosystem as the first to create synthetic assets in the community.
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Frequently Asked Questions
What is Horizon Protocol?
Horizon Protocol is a decentralized exchange that uses the blockchain to allow for trading of cryptocurrencies.
What is Horizon coin?
Horizon coin is a digital currency that can be used to purchase items in the game.
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