Cryptocurrency News

Hashbon Rocket Launches Its CDEX-Platform for DeFi

Hashbon FiRe (Finance Reinvented), a cryptocurrency payment platform, has expanded its services to decentralized finance (DeFi). With DeFi’s growing market size, crypto projects such as Hashbon FiRe rush to render fully decentralized traits such as cross-chain token exchange and liquidity pools at the first stage of their newly released MVP.

Hashbon Rocket will be beneficial because it addresses market concerns such as rising Ethereum gas prices, blockchain incompatibility, and complete control over your assets. In addition, these services are helpful for users with limited capital, as a 3 USD transaction fee makes no sense for a 10 USD transfer.

Besides, many new blockchains have emerged in recent years, causing a crypto holder’s portfolio to clutter up across multiple blockchains. As a result, exchanging these tokens has become difficult. On the other hand, Hashbon Rocket will simplify things for those users to exchange unsupported tokens with just a few clicks.

What is Hashbon Rocket and What it Does

On September 9, 2021, Hashbon’s ecosystem launched Hashbon Rocket CDEX. Hashbon Rocket is a cross-chain decentralized exchange (CDEX) platform that calls itself the ‘first cross-chain DEX.’

The new platform solves the BEP-20 tokens for the ERC-20 tokens exchanging issue based on a decentralized finance approach. Furthermore, unlike traditional decentralized exchanges that support intra-chain token swaps, Hashbon Rocket will execute inter-chain token trades.

Hashbon Rocket CDEX-platform executes token exchanges between the Binance Smart Chain (BSC) and Ethereum blockchain systems. Still, it can further expand to include other Ethereum Virtual Machine (EVM) compatible blockchain protocols.

The platform uses a proof-of-stake consensus mechanism in which arbiters make decisions. Their strength is proportional to the number of HASH tokens they possess: the greater an arbiter’s HASH token’s number, the greater his reward for a correct vote. The penalty for an incorrect answer is also higher. The developers decided on a Proof-of-Stake as a green alternative to the Proof-of-Work consensus algorithm to ensure secure transactions via an arbiter infrastructure.

The exchange’s goal has always been to provide crypto enthusiasts with easy access to an ecosystem that facilitates crypto transactions. In addition, Hashbon offers complete crypto payment services to business and individual users globally in the DeFi and CeFi sectors.

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