In the first part of this series of three blogs, we laid out the fundamental barriers between different blockchains, illustrating the key factors that act as barriers to seamless inter-blockchain connectivity.
In this part of our series, we’ll take a look at four totally different decentralized apps built on four popular blockchain networks to find out what they offer, how they work, and why it’s difficult for crypto enthusiasts to use all of these apps simultaneously due to the barriers between their native blockchains.
The Dapps described in this blog cover different aspects of the crypto market and offer various functionalities that are of interest to a considerable portion of crypto users. When users stick to one blockchain and only use apps that are built on that specific network, they probably won’t have any problems. But if users want to simultaneously use a multitude of platforms across different networks, they usually run into a lot of obstacles regarding interoperability and interconnectivity. This holdup is due to the fact that users need an authentic browser to the blockchain in order to smoothly connect to all the Dapps they need. Zelcore is exactly the platform that allows users to do this.
Let’s take a look at these Dapps.
A DEX Platform: PancakeSwap (Binance Smart Chain)
PancakeSwap (CAKE) is one of the largest decentralized exchange platforms on the crypto market. This platform is the key DEX for interacting with the Binance Smart Chain (BSC). Users can easily swap thousands of BEP-20-based tokens with just a few clicks after connecting their wallets to the platform. There’s no account creation procedure and no complex user verification. You can literally exchange coins in a matter of minutes.
Users can also participate in PancakeSwap liquidity pools and yield farms by staking the native CAKE tokens as well as other cryptos like Binance Coin (BNB) in order to earn staking rewards, which are quite high. PancakeSwap uses automated market maker (AMM) software solutions to ensure optimal liquidity levels on the platform and the liquidity pools are a key part of the platform’s operational mechanics.
The fact that PancakeSwap is geared towards the Binance Smart Chain means that people using apps that are based on other blockchains like Ethereum (ETH) or Solana (SOL) can’t easily access the platform and swap tokens, however, Zelcore users can quickly convert their FLUX tokens from other blockchains like ETH and SOL to BSC compatible FLUX tokens through the integrated Fusion app and start swapping BEP-20 assets on PancakeSwap.
A Sports Betting Dapp: Sportx.bet (Polygon)
Although DeFi is definitely the most popular blockchain sector among Dapp developers and users alike, decentralized apps can also be used to power crypto gaming and sports betting platforms, which constitute a rapidly rising niche in the crypto space.
The Polygon (MATIC) based Sportx.bet app is a very popular sports betting platform that allows users to place bets on a wide range of sports events from basketball and football matches, all the way to MMA events and car racing. The platform works as a betting platform with limited crypto exchange features. Since Polygon is a Layer 2 blockchain solution for Ethereum scalability, users can deposit Polygon based Ether, but they need to do so through the in-app blockchain bridge. Additionally, the USD Coin (USDC) stablecoin and the platform’s native SportX (SX) token are also accepted as deposit methods, and users can purchase these coins through multiple gateways directly through the app.
When using the built-in blockchain bridge for exchanging Ethereum to Polygon-based Ethereum, users need to pay ETH gas fees which can get quite high during periods of intense network congestion, and gas fees can easily go up to several tens or even hundreds of US dollars for a single transaction.
A Social Dapp: Yup (EOS)
Social Dapps definitely form the smallest sector of the Dapp market, but this niche is also expanding lately, with the EOS based Yup platform giving a whole new dimension to social media with its interactive rating features that allow users to rate any social content on the web, and earn Yup tokens in the process. Basically, Yup is a second-layer social capital protocol that places value on people’s opinions and earned respect. This means that Yup users can rate all kinds of online content while getting rewarded for their time and comments.
Yup works as a browser extension based on the EOS blockchain, which was formerly an ERC-20 token on the Ethereum chain, but it has since migrated to the EOS mainnet. The platform uses a multi-chain architecture that relies on the Ethereum network for asset liquidity since the ETH network is the second-largest blockchain in the world right after BTC. However, for scalability, the platform relies on the EOS mainnet because it’s much more scalable than the Ethereum blockchain, which means that Yup can handle higher transaction volumes than the Ethereum chain thanks to the EOS infrastructure.
An All-Around Investment Platform: TraderJoe (Avalanche)
TraderJoe is an all-in-one crypto investment platform on the Avalanche (AVAX) blockchain. The platform unites all the key features users expect from the DeFi sector. You can use TraderJoe as a decentralized exchange platform, swap loads of tokens on the Avalanche network, and even exchange your tokens for a variety of popular stablecoins that are adapted to have an AVAX native version, similar to how Ethereum has a wrapped version for the Polygon network.
The TraderJoe Pool and Farm features allow users to participate in liquidity pools and yield farms in a similar way to PancakeSwap, except that users can also use their yields for additional DeFi features on TraderJoe, such as the Zap option which instantly converts your selected tokens into LP tokens, or the Lend feature which can be used to earn interest by lending your crypto to borrowers.
Although TraderJoe is a true DeFi powerhouse, its main limitation is the fact that it isn’t compatible with other blockchains, and just like PancakeSwap, users are limited to using only one blockchain ecosystem, the Avalanche network.
Conclusion
Barriers between blockchains are a huge issue when it comes to the mass adoption of cryptocurrencies and blockchain-based platforms.
That’s exactly the issue that Zelcore is solving in a highly efficient and trustworthy manner, by providing users with the browser to the blockchain which they need to seamlessly use the services of any Dapp they need, regardless of the blockchain it’s built on.
In the final part of this blog series, we’ll see exactly how Zelcore is bridging the gap between various blockchains.
