The long-awaited Bancambios DeFi project has now launched with its digital currency known as BX. The DeFi is planned to be built on top of the Solana blockchain.
Bancambios’ choice to develop the project over Solana was a game changer, catapulting the initiative to new heights and helping them in reaching their objective of bringing DeFi to millions more people.
The DeFi is said to be an ideal way to encourage widespread crypto adoption through an open-source suite of tools that collect small transaction fees and transfer them to an impact wallet which actively promotes successful environmental initiatives.
When Bancambios builds their platform on the Solana blockchain, its CEO claims that they will be assisting in the standardization and widespread usage of Web3, which is a critical step in the process of enabling DeFi internationalization.
Putting Environmental Awareness First
“We want to create a DeFi ecosystem that is conscious of people and the environment; we don’t want crypto to behave like conventional players in traditional financial markets,” he continued.
Blockchain technology, particularly highly accessible networks like Solana, enables them to build something entirely new by using programmable decentralized finance.
DeFi protocols now can have a genuine, tangible beneficial impact on issues such as pollution and threats to biodiversity.
BX holders may suggest and vote on how the DeFi community’s effect should be distributed. With initiatives to support the 17 Sustainable Development Goals of the United Nations (SDGs), the project’s goals include “Proof of Impact” that will be documented by minting a “before and after NFT.”
In the long run, this will function as an environmental impact statement that may be viewed publicly.
Bancambios Emphasized DeFi Security
Bancambios’ project has established a favourable reputation among those interested in learning more about cryptocurrencies and decentralized banking.
The Bancambios team has committed to four independent cybersecurity assessments as part of its efforts to ensure a grade-A platform.
This enables the project to provide a high-security platform while also building their reputation as trustworthy partners, which is an important component of onboarding new people and organizations into the cryptocurrency sector.
The back-end work is being handled by three full-stack engineers with a combined ten years of expertise in the creation of financial technology solutions.
At present, Solana is the world’s fastest open-source and censorship-resistant blockchain infrastructure, enabling the creation of decentralised apps. Its popularity is growing as a result of characteristics such as great performance, usability, speed, and audited security, among others.
Greater transaction throughput is possible due to Solana’s better processing capabilities, which increases proportionately with network capacity. The combination of these characteristics, as well as the throughput and expandability of Solana’s ‘proof of history‘ consensus method which has the impressive ability to exponentially expand the current transaction pace of 50,000 transactions per second.
For further details, Bancambios may be accessed at https://bancambios.exchange/
We Want To Hear From You
What is your opinion on this development? Share your thoughts with us in the comments below.