Bictory Finance is Highly Scalable
Bictory Finance is a profoundly scalable Cross-chain DEX, CEX, and Crowdfunding platform, connecting Concordium, our underlying technology, to Ethereum and Polkadot. Concordium, as an enterprise-grade backed by business and academia, is a well-researched Blockchain.
Crypto attracted many people in the space because of cheaper and faster transaction cost without a third party. Unfortunately, those principles are under threat amid extensive diversity of innovation driven by decentralization.
Scalability is one of the most critical intricacies in Blockchain and has been the locus of industry practitioners and academia since Bitcoin, the pioneer digital asset’s inception. The two crucial issues of faster and cheaper transactions here are pivotal to utilizing every platform.
However, as more people enter the ecosystem, the ability of some Blockchains to scale and offer optimum services is a headache. The outcome is many transactions and not ample space on the Blockchain, administering lengthy waiting periods and prohibitive fuel charges.
This culmination is an enigma the ecosystem is still battling to overcome as Crypto keeps evolving and introducing new methods, ideas, and products for the greater good. Even leading Blockchains like Bitcoin and Ethereum are still grappling with supporting quicker confirmation time and lower gas fees.
Gas Fees Can’t Hijack Innovation
With countless projects deployed on Ethereum, the insane gas cost hinders and skyjacks the change of wind blowing through the industry from delivering the most desirable. These obnoxious fees and feebleness are standing in the way of progress and prosperity.
Imagine buying $100 worth of an ERC-20 token on Uniswap and paying $57 in ETH as the transaction cost? It leaves a sour taste in the mouth of users, and they are better off going back to the traditional financial institutions.
But at Bictory Finance, we believe that higher transaction fees can’t arrest innovations in the Crypto arena. That’s why we are determined to bring to the market products and services established on a scalable Blockchain with a sturdy and futuristic design.
Concordium is a privacy-focused, public, and permissionless Blockchain designed to be fast, secure, cost-effective, and ideal for real-world usage by businesses and corporations. We are building Bictory Finance on it to offer the Cryptocurrency market the most satisfying user experience.
Concordium has a novelty two-layer consensus and finalization mechanism, tested in the high 100’s of Transactions Per Second (TPS). Nevertheless, the team is continuously optimizing and pushing the boundaries of the implementation.
The highest TPS is likely to be higher as they intend to optimize for this metric, and executing sharding will boost speeds dramatically. It is essential to note that TPS is distant from a shallow metric to calculate as it relies on many factors, such as the representation of nodes, the extent of the finalization committee, and transaction types, to name a few.
In the coming months, we will provide more data about TPS given diverse network geographies to highlight the performance of the Blockchain given discrete parameters. Solely looking at the TPS of a Blockchain is simplistic as tradeoffs are inevitably set up to maximize TPS. This fact is essential to any discussion about network throughput.
Bictory Finance Leverages Concordium
It is the inherent strength of the Concordium Blockchain that supports Bictory Finance to roll out all the splendid platforms set to provide an excellent user experience continuously. We are taking advantage of the spontaneous nature of the platform to offer the best in the space.
As one of the first projects to deploy on Concordium, we are positioning ourselves to bootstrap other projects that come after us and the entire Crypto ecosystem. We will release holistic financial products and services that will contribute immensely to the industry in the coming months.
Check Out Bictory Finance
Our mission is to provide futuristic products and services never experienced in the market. Our focus includes implementing a global Crypto community as we provide the most secure ecosystem and strive to give instinctive and savvy products.
Kindly read the Bictory Litepaper to understand what we are busy executing and delivering to the world of digital assets. Learn about all of the topics relating to Bictory Finance and ask all the questions on your mind.
And don’t forget to follow us on our social media channels for current updates about the project. Always stay safe in these difficult and uncertain times!