Bitcoin (BTC) and Ethereum (ETH) are the largest cryptocurrencies in terms of market capitalization. They also contribute more than half of the entire cryptocurrency market share. It is hardly surprising that they are by far the most popular cryptocurrencies. However, these prominent tokens have some major limitations due to their consensus mechanisms: the proof-of-work consensus, a method of validating transactions on the blockchain by solving a complex computational code.
Aside from the mining demands of proof-of-work coins, transactions on the POW network are not quite scalable and fast. Fortunately, the cryptocurrency landscape is rapidly changing and innovative cryptocurrencies like Kava.io are proving to be faster and more scalable.
Kava.io is a DeFi service created by Kava labs in 2018 to function as a lending and borrowing platform. The protocol offers loans in USDX only, but users can loan different cryptocurrencies. USDX is Kava’s USD native token, while KAVA is Kava.io’s utility token.
Kava utilizes the Ethereum Virtual Machine to deploy Kava’s smart contract. It works with the Inter-Blockchain Communication protocol (IBC) and functions with an Ignite-based Proof-of-Stake (PoS) consensus mechanism, formerly Tendermint PoS.
The Kava project provides other DeFi services, such as borrowing synthetics or derivatives. The protocol uses a collateralized debt position system to ensure that the loans remain collateralized. Asides from borrowing and lending on Kava, users can also stake multiple tokens to earn a yield.
Source
Have you tried to invest in $KAVA?
Aside from the mining demands of proof-of-work coins, transactions on the POW network are not quite scalable and fast. Fortunately, the cryptocurrency landscape is rapidly changing and innovative cryptocurrencies like Kava.io are proving to be faster and more scalable.
Kava.io is a DeFi service created by Kava labs in 2018 to function as a lending and borrowing platform. The protocol offers loans in USDX only, but users can loan different cryptocurrencies. USDX is Kava’s USD native token, while KAVA is Kava.io’s utility token.
Kava utilizes the Ethereum Virtual Machine to deploy Kava’s smart contract. It works with the Inter-Blockchain Communication protocol (IBC) and functions with an Ignite-based Proof-of-Stake (PoS) consensus mechanism, formerly Tendermint PoS.
The Kava project provides other DeFi services, such as borrowing synthetics or derivatives. The protocol uses a collateralized debt position system to ensure that the loans remain collateralized. Asides from borrowing and lending on Kava, users can also stake multiple tokens to earn a yield.
Source
Have you tried to invest in $KAVA?
