INTRODUCTION
The SORA Network is on the verge of becoming the future of the global decentralized financial system,through its development of advanced working platforms and applications under the government of the network's regulating body.
The SORA Network is designed to provide efficiency and effectiveness of services to the numberless numbers of the systems, projects and applications built on the Decentralized finance (DeFi). This network's efficient and effective service does not only accrue the digital world,as it also covers for physically developed plans.
HOW SORA NETWORK WORKS
Not only is SORA Network a proposed financial system that will eliminate the Centralization in banking systems, It will also serve as a medium through which a parachine blockchain which relates to polkadot relay chains will be knitted on the Decentralized finance system.
The network's unique exploits are a result of its provisions of advanced technologies for Dapps whose efficiency in service is resulted from the use of digital assets like atomic token swaps. This breaks the barriers between tokens and various blockchains, and establishes guidelines for digital programs.
THE SORA NETWORK FEATURES
Governance
Every individual that will exist on the sora network, will be referred to as a sora citizen and as such is entitled to a chance on the SORA parliament, this gives them the right to make valid recommendations on the network as concerning it's improvements.
Projects
The network has the capacity to embark or carry various projects. On this note, other projects can be incubated on the network,the soon to be governing body of the network will approve the use and distribution of the network's token for its effective and efficient productivity.
Polkaswap
With POLKASWAP on the SORA Network, It is extremely possible to swap assets from different digital networks back and forth, tokens on ethereum can be swapped with SORA, polkadot etc and vice-versa.
Staking
The SORA network also has a staking platform, Users of this network can either choose to be nominated for validators. While nominators are compensated for staking, validators are also compensated for validating assets on the sora network.
ABOUT POLKASWAP
Many Cryptocurrency enthusiasts always have the same problem of inability to swap tokens on their possessions for a more desirable token.
POLKASWAP is a 'non-custodial AMM decentralized exchange that has the main concern of' Interoperability '. The major reason for the development of this unique project is its functionality in the polkadot community. It is aimed at knitting the remaining factions of the crypto currency to the polkadot system.
It is important to note that polkadot looks to provide safety of assets, easy transactions and convertibility of assets, above all, it provides a platform where assets can be swapped seamlessly.
DECENTRALIZED EXCHANGES ON POLKASWAP AS OPPOSED OTHER BLOCKCHAINS
Embodiment Of Numerous Assets On Other Blockchains
POLKASWAP has the capacity to embody different blockchains that have many assets pegged to them. It beats other chains like the ethereum, due to its ability to embody both assets on the polkadot system and from different chains, this way it goes beyond just transacting with ethereum tokens.
Swift Transactions
Transactions and asset swapping on POLKASWAP is said to be like the speed of light. Unlike transactions on other decentralized exchanges which can be very slow, POLKASWAP uses more advanced systems designed for high performance, this way users are guaranteed best service experience.
Reduced Transaction costs
The cost of transactions on other frequent decentralized exchanges is outrageous. This high gas discourages users from swapping their assets, especially for users who might want to swap assets with little value. On POLKASWAP, gas fee is relatively low because it is built on a substrate which isn't as expensive as other exchange systems.
BENEFITS OF POLKASWAP ON THE SORA NETWORK
The SORA network is designed with highly sophisticated technologies and closely knitted to the polkadot system which makes it possible for POLKASWAP to exist on the network. The polkaswap is required to be in close and constant knit with the polkadot ecosystem and also maintain relations to the Defi.
The polkadot relay chain system lacks the capacity to process smart contracts transactions, the POLKASWAP on the other end is designed to exist on a platform that allows scalability, carries out smart contracts, relates with polkadot relay chain and focuses on Defi. All these are found on the SORA network which is why POLKASWAP is built on the network.
CONCLUSION
The SORA Network with its new polkaswap project is obviously out to solve the pending problems of decentralized exchange systems like the ethereum through its quick transaction process and exchanges both ethereum based assets and assets from other blockchains.
Now users can easily swap or exchange their assets without bothering about high gas fees, slow transaction processes and enjoy having various assets on different systems on one platform.
For more relevant information, kindly visit the beneath links:
SORA COMMUNITY
Website:- https://sora.org/
Twitter:- https://twitter.com/sora_xor
Telegram:- https://t.me/sora_xor
Reddit:- https://www.reddit.com/r/SORA/
POLKASWAP COMMUNITY
Website:- https://polkaswap.io/
Twitter:- https://twitter.com/polkaswap
Telegram:- https://t.me/polkaswap
Reddit:- https://www.reddit.com/r/Polkaswap/
Writer's Information
Telegram Username :- @Vickystar01