Brief overview of the public blockchain cryptocurrency industry

Blockchain is a distributed ledger of transactions that can record not only financial transactions, but almost anything of value. Each block consists of a series of transactions managed by the infrastructure of distributed computers on a decentralized network.

What makes blockchain technology unique is its ability to keep all ledgers on the network publicly accessible but completely untouched. Every block in the network is cryptographically linked to two adjacent blocks, meaning that to interfere with the network it would require every block in the network to be modified. Since blockchains are distributed over a decentralized network, security is a strong point.

Understanding the nature of today's blockchain technology, the team has come up with solutions that can overcome the above problems, the KNIT.Finance project is a unique decentralized protocol combining aggregation across multiple chains, Bridge and real world markets with interest, lending, trading and escrow services through smart contracts.

Right now I will introduce in details about the project KNIT.Finance for you to understand more deeply

The blockchain community is constantly looking for solutions to make their platforms and technologies more scalable. Scalable blockchains enable a wide range of decentralized applications.

It's surprising that Knit.Finance connects multiple non-Ethereum chains with wrapped tokens. Any asset can be leveraged in Ethereum DeFi and deployed into transactions and liquidity guidance.

KNIT. Finance is the next generation of Defi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. Any digital, lockable asset can be leveraged with KNIT. Finance by generating equivalent synthetic tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.

Anything decentralized should be available to anyone and everyone. But DeFi today is predominantly dependent on ERC-20 tokens. ERC-20 standard has proven to be the go-to for decentralized lending, borrowing, and yield farming, etc. However, this leaves out the participation of other assets of independent blockchains. These assets and their hodlers have a huge barrier to entry into DeFi. KNIT.finance solves this problem in one fell swoop.

KNIT.Finance unlocks the entire crypto ecosystem to DeFi using cross-chain synthetics and bridges. Existing DeFi protocols determine which tokens and projects get to participate. KNIT Finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, KNIT Finance opens up an entire world of new possibilities.

Any coin or token on any blockchain could be converted to an equivalent synthetic token of the ERC-20 format. The original token and the synthesized token will represent each other in a 1:1 ratio. On the contrary, with KNIT, ERC-20 tokens could also be synthesized on other blockchains in a 1:1 ratio. In addition to cryptocurrencies, real-world assets such as fiat, gold, and stocks can be synthesized using KNIT Finance.

Featured

1. Every Coin
For every coin hodler, we provide an option to trade and leverage their coins in the DeFi space. Coins (E.g.: LTC) that were previously out of DeFi’s scope will now have complete access to all of DeFi’s features.

2. Flexibility of ERC-20 standard
ERC-20 standard is known to be flexible, possessing the highest transferability and accessibility with the world’s second-largest blockchain network. Every coin now has the opportunity to leverage Ethereum’s flexibility.

3. Global Liquidity Pool
A global liquidity pool is being opened to Ethereum and vice versa.

4. Read-World Assets
Stocks, Gold, and Fiat can be synthesized to trade on Decentralized Exchanges, essentially decentralizing centralized assets, giving more power to the trader.

5. Community-Driven
100% governance of these tokens will be through the community.

6. DAPPs
DAPPs can now access tokens on other blockchains using only their Ethereum nodes via KNIT’s synthetic tokens. They can also receive payments in these tokens.

This is actually an evolutionary change in the concept of blockchain code execution and the concept of blockchain as a world computer.

At this point, do you feel sure about following this project? . For me this is a great project.

Knit.Finance creates incredible opportunities for both altcoin and Ethereum DeFi. The protocol that integrates new assets into the Ethereum network is highly liquid and allows them to be plugged into existing profit-generating opportunities.

The advantage of this solution is that it can resolve all transactions on the network, which will help developers achieve the highest efficiency when using this technology.