DeutschThe TeDeFi Solution
As the crypto space continues to expand, the goal of decentralization, which blockchain technology stands for, is falling by the wayside for most blockchain projects. Most of the prominent players in the crypto space are centralized entities that are run and structured like normal companies.
Due to the influence of these companies, crypto users have to deal with bottlenecks such as transaction limits, wallet creation, and passphrase storage, not to mention that if a passphrase is lost, the wallet and the funds it contains could also be lost. To interact with a decentralized exchange, you would need a wallet application or extension, most of which are owned by centralized institutions, which defeats the purpose of blockchain creation.
TeDeFi offers a breath of fresh air for crypto enthusiasts who long for actual control over their assets and the ability to control blockchain networks. By integrating with Telegram and using the MTProto protocol, TeDeFi guarantees users security, scalability, simple transactions, and complete control over their assets.
TeDeFi was developed based on the validation consensus protocol of the Binance Smart Chain network. A group of validators, twenty-one in number, confidently confirms transactions and ensures optimal network propagation. Users prove their trust in each of these validator nodes through a stake, and another can replace any node that does not meet the requirements.
The BSC network operates with a Proof of Stake Authority model, as opposed to Bitcoin, which uses the Proof of Work model, and Ethereum, which recently switched to Proof of Stake. TeDeFi applies a similar consensus model. The validation nodes in the TeDeFi network also serve as webhooks for the API function of Telegram bots, which are essential for creating dApps on Telegram.
How Secure is the Solution?
With Telegram’s MTProto protocol, TeDeFi can guarantee its users the highest level of money security and information encryption. MTProto has three notable layers that help with the secure transmission of messages within the network and act as the only intermediate layer between the TeDeFi blockchain and Telegram.
The first layer, API Query Language, converts information from the API into binary languages that can be read by computers. These messages are then forwarded to the cryptographic layer, which is responsible for authorization. The authorization layer encrypts the messages to prepare them for transport through the network. The transport component helps clients and servers transmit messages over existing network protocols.
The MTProto protocol is considered virtually unassailable and is the perfect partner for TeDeFi, as it promises maximum security for users.
TeDeFi Telegram Exchange
The first significant innovation that the TeDeFi blockchain will implement on Telegram is the introduction of a decentralized cryptocurrency exchange. Users will be able to deposit, withdraw, and exchange their favorite cryptocurrencies directly through their Telegram accounts. They will also be able to trade the native token of the TeDeFi ecosystem, $TEFI. In the future, the TeDeFi team will add more features to the Telegram exchange, such as an order book, advanced trading tools such as limit orders, and token swap options to exchange one token for another.
The TeDeFi Token
Like any blockchain solution, TeDeFi has a native token, $TEFI, which is responsible for governance performance, among other things. $TEFI, with a total supply of 86,800,000, will cover transaction fees in the network, discounts on trading fees on TeDeFi Telegram Exchange, staking, and validator rewards.
$TEFI will initially be deployed on the Binance Smart Chain, and the full migration to the TeDeFi network will take place in the second quarter of 2022. The sale of $TEFI was completed on the Telegram Exchange at $0.05 per token. According to the website, the price of the token is currently around $0.12.
What Does the Future of the Ecosystem Look like?
The team invites developers to develop dApps with their Telegram innovation. These applications will be fully automated and provide users with a smooth experience. P2P transfers on Telegram are in the works, and the TeDeFi mainnet is expected to go live in 2022.
Visit the website for more information. You can find the address of the $TEFI contract here.
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