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Supontis on the BNB Chain May be a Competitor for Harmony

Supontis on the BNB Chain May be a Competitor for Harmony

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Supportive (PON) is a new cross-chain bridging solution in the BNB Smart Chain and could be a competition to Harmony, a layer-1 blockchain with huge cross-chain interoperability. Inter-chain interoperability is a highly desired solution for the current cryptocurrency market. The value is spread across different networks and can be intimidating for users who want to transfer their assets to another chain for separate use. Before transfer, such funds may need to be converted to a universal token such as stablecoins.

Cross-chain bridges have made it very simple for tokens on multiple networks. Tokens of different standards can be easily exchanged for each other. Over the years it has become fairly clear that centralized inter-chain bridges cannot do the job like decentralized trustless bridges.

Users using trusted bridges do not have to believe in a single authority or organization. The mathematical truth embedded in the code is where belief is placed. This fact is achieved in a decentralized blockchain system with the help of multiple computer nodes that understand the specifications of the software. Leveraging transparency and motivating public participation in DeFi solves many of the problems with centralized institutions that are prone to corruption or abuse of power.

Harmony (ONE)

Harmony (ONE) is a layer 1 blockchain network that allows developers to build decentralized applications (dApps). The network improves the scalability of Ethereum by introducing a new sharing-based solution. It uses a unique consensus mechanism that opens up opportunities for fast transactions, lower fees and interoperability.

Zilliqa first introduced the sharding mechanism. However, Harmony and some other blockchain networks have found a way to own the mechanism by looking for improvements in areas where Zilliqa was lacking. Zilliqa’s main problems were its consensus and custodial mechanism. Both proved to be incompatible with sharding and as such can leave the blockchain network vulnerable.

Harmony supports transactions between shards, allowing direct communication between shards. The atomic lock system enables consistency and positions Harmony (ONE) as the top network for multiple chain bridges. Harmony uses Fast Byzantine Fault Tolerance, an improved version of Practical Byzantine Fault Tolerance, where delegates and validators are selected using a Proof-Of-stake consensus mechanism.

Supportive (PON)

Supontis (PON) is a new cross-chain bridge on the BNB Smart Chain and should be an exciting project to watch considering that the BNB chain is second only to Ethereum in the DeFi market. Being on the BNB Smart Chain allows the bridge between chains to scale using the scalability of the network that sharding enables.

Supontis enables seamless value transfer between top networks such as Ethereum, BSC, Avalanche, Tron, etc. The PON ID serves as an auxiliary and administrative ID. It allows the DAO community to make proposals and vote for a consensus on the future of the project.

Bridges between chains are somewhat vulnerable, as offering certain assets on another network can leave loopholes for bad actors. However, BNB Smart Chain is one of the most secure networks that initiates DeFi protocol inter-chain bridges with a reasonable level of guaranteed security.

Supportive (PON)

The PON token is on pre-sale in phase 2. After the success of Phase 1 pre-sales, this looks like a sign that could be a big deal. It comes with several bonuses in the phase 2 presale. Join the pre-saleand you can also join a referral program that gives you $50 for every $200 you spend as a referee.

By buying with cryptocurrencies such as ETH, BNB, BTC or USDT, you can earn up to 18% extra tokens. Bonuses accumulate over each criterion you meet, and consecutive purchases can be a way to fill bags. Your second purchase will give you an extra 30% and your third purchase will give you 50% and work your way up.

More information:

Website: https://supontis.com/

Advance sales: https://register.supontis.com/register

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