A brief description of the BIFROST Network
What is Bifrost?
BIFROST is a multi-chain middleware platform that allows developers to build decentralized applications (dApps) on top of multiple protocols.
BIFROST can be used as developer middleware to create a developerless application platform (dApps). BIFROST is not tied to a single blockchain and creates a new environment where developers can combine the best protocols.
In Norse mythology, the BIFROST bridge is a multi-dimensional bridge that connects Asgard (where gods live) and Midgard (where humans live). It turns out that BIFROST is also trying to create a bridge between dApps and blockchain protocols. Today, dApp developers have a plethora of blockchains to choose from when it comes to deploying their applications, and at the same time, more and more blockchain protocols are being developed every day. They are all trying to solve the blockchain trilemma by balancing the conflicting demands of security, scalability, and decentralization. dApps provide a wide range of services, making their system requirements extremely diverse. Different blockchains have different benefits, but to date, there is no single blockchain that can combine the benefits of all blockchains and solve the conflicting requirements of dApps!
The BIFROST network is a layer 1 blockchain with the Substrate technology it uses, things that have no connection between blockchains, EVM, and permission windows. Validators act as real network optimizers and cross-network adjustments. On-chain project fee and on-net governance token — $BFC.
The essence of BIFROST is “a cross-chain of a divided transport network. BIFROST networks act as an external validators for on-chain attackers and pass the chain from the source chain to the destination. Do not plan to go through the process of decentralization and transition in an inter-chain transitional path of networked, intelligent transactions. The same two products are used for this: Relays and Socket Contracts.
BIFROST is implementing a middleware platform that will enable dApps to take advantage of various blockchain platforms. The middleware platform works between the application layer and the protocol layer.
BIFROST allows you to combine the performance, scalability, and customizability of private blockchains with the security and decentralization that public blockchains provide. The dApp codes are separated and converted into private and public components, and each component is wrapped in its own native smart contract to achieve greater scalability. BIFROST allows both components to work together seamlessly through the use of linkers that connect the data and control flows between the two components. BIFROST believes that in a world full of dApps and blockchain protocols, bridging the gap between them is essential for the holistic development of the blockchain environment.
The BIFROST network is a layer 1 blockchain with the Substrate technology it uses, things that have no connection between blockchains, EVM, and permission windows. Validators act as real network optimizers and cross-network adjustments. On-chain project fee and on-net governance token — BFC.
It was designed to allow you to automatically find the best price on BIFROST for swaps and other cross-network transactions. With Chain Runner offered as an aggregator, it allows you to trade Compound, Uniswap, or NFT at the best prices.
BiFi is a cross-network lending market. This allows you to borrow assets in one chain against collateral in another and vice versa. In addition, platforms that enable leveraged transactions with Bifi-X are in beta and continue to evolve.
They have their own NFT market called Bmall and you can buy and sell your NFTs on the BIFROST network or other networks.