+1 271% in 1 month: why is the Aleph.im project so different?

+1 271% in 1 month: why is the Aleph.im project so different?

By NassiroV | CryptoPress360 | 2 Aug 2020


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DeFi, short for "Decentralized Finance", surprises and detonates. After so much searching for the future Bitcoin, the cryptosphere seems to have found a new workhorse that combines innovation and financial opportunities.

Aleph.im: the all-in-one solution

1- Total decentralization and DeFi: the harsh reality

Social networks, online services, new information, ... Our connected life can sometimes take on the appearance of an obstacle course , as the redundancy of the information to be provided can prove to be time consuming. Indeed, our digital identity is still underexploited.

The decentralized finance is housed in the same boat. Materialized in the form of silos, it forces those who wish to save otherwise , to connect via Metamask, then transfer their precious Ethereum to Uniswap, previously acquired through Binance.

How is it possible, under its conditions, to claim to want to democratize finance , when a large majority of potential users establish the simplicity factor as the number one priority?

Another major flaw must be resolved to achieve full decentralization and mass adoption . A decentralized application creator is also faced with certain problems. They are obliged to store images, content and written information related to their project to bring it to life. Despite the enormous advancements introduced by IPFS technology , data remains centralized on a hard drive and defeats the purposes of a dApp.

To summarize: Interoperability and data management are the major issues that will see dreams of financial decentralization come true (or not).

There is no shortage of initiatives, as the talent and creativity of the developers of the crypto ecosystem are important. The emergence of a new project gives rise to the wildest hopes and seems to have found a solution which is already extremely coveted.

2- Aleph.im: a really different project

Too many crypto projects focus on one and the same problem, making a technologically brilliant product of little use in the long term. The technology put in place by the Aleph.im team could be considered an all-in-one solution.

Interoperability, data storage, fluidity, cost, etc. These issues are swept away thanks to a layer 2 (off chain) technology which is inserted between user and protocol.

How the Aleph.im protocol works

Deployable on top of all existing blockchains (Binance, Neo and Nuls are already integrated), it promises users a smooth experience, which will allow frictionless interaction  with the financial products of tomorrow.

In addition, it has placed the issue of data storage at the heart of its strategy, making it possible to achieve total decentralization , hitherto impossible because of IPFS technology .

The proposed solution solves the problems of costs, latency, adoption and storage, and is acclaimed by many players in the industry . FTX, through its new Serum platform , decided to integrate this technology immediately in order to guarantee its users the best possible experience.

Investors, too, are not mistaken. In the tidal wave caused by the appreciation of bitcoin, causing most crypto-alternatives to falter, few tokens have been able to resist, or even obtain better performance. Aleph.im is one of them, and its current growth is just the beginning.

Let's be clear ! Even if the project is surfing the trend of decentralized finance, its influence is potentially much wider. Decentralization and data management will remain at the heart of the most lively debates for a long time to come. Complaints are no longer allowed.

The unstoppable DeFi

The graph proposed by DeFi Pulse allows us to quantify the value of cryptocurrencies allocated to DeFi protocols.

Total value blocked (USD) in DeFi - Source: DeFi Pulse

Between Saturday, July 25 and today, the total amount of funds allocated to the DeFi movement has increased from $ 3.51 billion to $ 3.95 billion . Despite the great form of Bitcoin, which slowed the growth of the movement mid-week, the trend is returning to the upside and is just below $ 4 billion.

Tweet of the week

The tweet of the week goes to Qiao Wang who claims that products and services related to the DeFi movement are at a major inflection point. Indeed, they are beginning to overshadow centralized tools and platforms (Binance and Coinbase) thanks to the efforts produced in terms of access, security, anonymity, performance and liquidity.

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Only the improvement of these variables will allow the universe of cryptocurrencies a total decentralization and, de facto, a massive adoption of the protocols of decentralized finance.


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NassiroV
NassiroV

Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


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