How The BFIC Blockchain Is Proving To Be A Strong Foundation For BFICoin In Crypto World !
The previous generations of blockchain technology paved the way for future advancement and improvements. The Bitcoin and Ethereum blockchains are built on the PoW consensus process, and both have well-known issues, including scalability and excessive power usage to operate mining equipment.
Innovation Factory built the Bfic Blockchain, the blockchain technology, to overcome these prevailing issues. The focus of BFIC is to propose a solution to crypto-world problems as well as provide a stable and sustainable cryptocurrency.
BFIC is a game-changing crypto coin that is rapidly changing the cryptocurrency landscape. The major goal of BFIC is to develop a self-sufficient digital economy that is fully functional. BFIC Blockchain employs Bitcoin and the PoS algorithm that delivers high performance and scalability.
BFIC Mainnet — A Strong Foundation
The previous generation of Blockchain has been successful in creating a decentralized network. They have been home to various well-known cryptocurrencies, including Ethereum. However, it still lacked basic functionalities such as scalability, eco-development, and interoperability.
As cryptocurrencies gained popularity throughout the world, the traffic on blockchain increased immensely. This caused unexpected delays in transaction execution, which impacted the financial system negatively. It also raised transaction costs, particularly for third-world countries. Keeping all of these critical considerations in mind, the developers of the Bfic Blockchain were adamant about resolving these challenges once and for all.
Bfic Blockchain is one of the first initiatives to be “built on peer-reviewed research and developed using evidence-based techniques.” It was also one of the first projects to commit to the Proof of Stake consensus protocol, and it offers a variety of innovative architectural solutions, such as a multi-layered network, and hierarchical deterministic (HD) wallet.
Colliding with other Layers:
To ensure BFIC is backed by a strong foundation the Bfic Blockchain is divided into three layers. Each layer assists the layer above it by fulfilling a function. This is performed on the BFIC main network through software protocols that connect across levels via APIs (Application Programming Interfaces). Separating the layers allows each layer to perform its function effectively without colliding with other layers.
The triple-layered structure ensures the security of all its users. The blockchain’s transaction records are encrypted, making them incredibly difficult to hack. Furthermore, because each entry on a distributed ledger is connected to the entries before and following it, hackers would have to alter the entire chain to modify a single record.
One of the major advantages of Bfic Blockchain is that it resolves the scalability issue. More than 100,000 transactions can be conducted per second efficiently and securely. This is a breakthrough compared to the previous generation of blockchain technology.
BFIC in the Crypto World
BFIC is gradually laying the groundwork for the future. It has a clearly defined and transparent roadmap that allows users to see where the project is headed. With strong blockchain technology and a clearly defined plan, BFIC has been able to gather a community of loyal followers.
BFIC is also backed by a fully functional ecosystem that consists of multiple projects. The ecosystem is designed to enhance the utility of BFIC. These projects will utilize BFIC for functionality which will in return gradually increase the value of BFIC. The ecosystem is unique and innovative. It includes Centralized and Decentralized Exchanges, Crypto Prize Bonds, Custom Investment Plans, and NFT Games.
BFIC will be a long-lasting cryptocurrency because of its high utility. The aim is to include BFIC in all kinds of digital financial dealing. So far BFIC and Bfic Blockchain has proven to be highly efficient in lowering the transaction cost while enhancing scalability. It is also highly secure with an ecosystem consisting of many business-related applications.
The future goals of BFIC are clear and the team is headed in the right direction to achieve these goals. One major milestone is to enlist BFIC in New York Exchange by 2026.
Originally published at https://prickdaily.com on November 18, 2021.