Introduction
The advent of blockchain and crypocurrency has brought about significant impact towards the development of digital asset for many industries since from the last decade. A lot of successful tech start-ups were created via development of cryptocurrency assets, smart contracts, decentralized finance and so on.
In recent times, open source blockchain powered financial systems called DeFi products, are been developed and at a very rapid rate. These products are said to have potentials of capturing a market share of over $10Billion Cap.
Majority of the current DeFi products has issues like blockchain scalability, higher network fees and speed. These slow down the operations which consequently impact on the adoption. Every client needs a fast and secure network with a very low transaction cost. Constellation Network is one remarkable system that aims to solve DeFi problem through building a better network that will enhance better experience.
Getting to Know About Lattice Exchange And the Constellation Network Protocol
The Constellation Protocol is designed primarily in order to facilitate secured communications between different technologies. The system has an interface that connects real world application through tokenized data. Constellation network protocol is built to create, store and use data for better customer’s experience.
Lattice Exchange is powered by Constellation protocol with an aim to provide for the trading of cryptocurrency. Constellation infrastructure solves the problem of limitation that is faced by many DeFi products that are built on the Ethereum network infrastructure, this will lead to an increase in the market size through a number of ways which includes;
- Transaction Speed: The Constellation infrastructure database is designed to facilitate fast transactions within its network.
- Network Cost: Constellation network is designed to offer free transaction in order to attract users to free access for transaction.
- Network Security: Constellation network’s data are stored in a blockchain collection in order not to be tempered or manipulated with by third parties.
Lattice Exchange DeFi Idea Compared to Existing DeFi Products
Majority of the current DeFi products are designed to accept injection of exchange liquidity to cover for transactions between various kinds of tokens. Liquidity are injected in the form of on-chain pools which is same value as ETH and ERC-20 tokens traded by users for free exchange.
Lattice exchange group of minds are in the process of introducing an advanced DeFi product that will utilize the fast and cheaper Constellation network infrastructure. Lattice exchange development on the Ethereum blockchain is to cater for transaction operations. The exchange will introduce an improved liquidity pool that will facilitate better pricing and less price fluctuation. Liquidity pool can be injected by anybody in order to obtain from the trading fees.
Lattice exchange idea gives clients the opportunity to create liquidity pool based on asset type, by injecting multiple liquidities from different platforms in order to have access to pools in those platforms. What a mind blowing idea!
Token Economics
The Lattice exchange governance token (LTX) is minted in order to carter for trading operations within the exchange platform. The token however has a burn function implemented in order to increase demand of tokens as supply drops gradually. Each LTX transaction will attract a 0.03% fee, changes can only be made by the governing committee of the exchange ecosystem.
Partners
Lattice exchange project has a number of notably partners that have signed and are willing to play a huge role towards the growth and development of the platform, the partners are in the image below!
Conclusion
Blockchain and crytocurrency technologies have dominated among all new applications in our today’s financial ecosystem. Ethereum network being a popular frontier of the cryptocurrency revolution has a lot of lapses and limitations. Lattice exchange is taking advantage of the Constellation network to bring a solution that will be resourceful to every enthusiast out there.
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Disclaimer: This is a sponsored article written for a bounty reward.
Published by Bounty0x User dropchief
Quite an exchange, DeFi is gradually getting stronger in exchanges. This lattice style is somehow, like an hybrid or so, i will need to get more picture of it. Anyways nice article :)
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