When it comes to Decentralised Finance, DeFi for short, scalability has been the missing ingredient for global adoption. Ethereum may be winning the DeFi race, but it will never be a fully adopted and accepted financial infrastructure without a solution to its scalability issues. Ethereum’s scalability problems, when boiled down, are its extremely high and volatile transaction fees and long transaction times, making building on the network expensive.
Queue Mountanaz (MNAZ) and Polygon (MATIC).
How Mountanaz aims to clear the mist surrounding DeFi scalability
Mountanaz (MNAZ) is the latest scalable-focused DeFi protocol to emerge onto the scene, powered by the Binance Smart Chain (BSC). With transaction costs and speeds impressively juxtaposed to the current kingpin Ethereum, the BSC offers a real and already working solution to the Ethereum scalability issue that is prevalent in today’s market. The Binance blockchain is also compatible with the ETH ecosystem and the coding languages used for their software development are extremely similar. This brings a degree of colloquialism between the two projects where information and ideas can be easily shared amongst the respective developers.
What distinguishes MNAZ from similarly inspired projects is its sharding system, mimicking the soon to be implemented system in the highly anticipated ETH 2.0 upgrade. Simply put, Sharding shares the load a block in the blockchain has to do. Quoted from Vitalik Buterin on Lex Fridman’s podcast, sharding is ‘changing the blockchain architecture … so that each node [or block] in the blockchain only needs to store a portion of the data … and transactions’.
When MNAZ is fully available to trade following its impressively planned marketing campaign in Q2, it will have a strong support uptake. Its credentials speak for themselves and after the success story of Polygon Matic, one can not easily portray the project negatively. The project developers have created this project with scalability in mind and it really does benefit from joining the DeFi party late. When it comes to DeFi Layer 2 solutions, there really is no first-mover advantage; Mountanaz looks set to rectify the complications and rid the mist that has arisen from poor DeFi adoption.
Why Polygon Matic won’t stay static
MATIC was founded upon the problematic scalability of the Ethereum blockchain. Gas fees on the network were and still are (although to a much lesser degree now) daylight robbery. Transaction costs would range from $20 to a couple of hundred, and in some instances regarding NFT minting, thousands. Polygon has already provided Ethereum DeFi solutions by aiding the development of AAVE and Curve finance. These two successful Decentralised applications (Dapps) do not have painstakingly high transaction costs due to the utility of the MATIC Sidechain function.
Polygon became the first dedicated Layer 2 solution to a Layer 1 Blockchain. Now MATIC and ETH operate symbiotically with each other and are directly benefiting from the progression of the other.
MATIC has made clear that a real and working solution to DeFi scalability issues will result in huge financial rewards for early investors, with Polygon up a whopping 350,000% from its all-time low according to Coingecko statistics. This gives Mountanaz a huge opportunity to get involved with an outstanding project before it becomes mainstreamed and listed on major exchanges later in the year. It is about to undergo what its developers have called a ‘massive global marketing campaign’. Get in early like you should have done for MATIC and HODL.
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