Bifrost

Bifrost

Created using Figma
Created using Figma
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To be announced
Token Details
Total supply
3,968,584,074
Additional Details
Categories
Platform

About Bifrost

We have high expectations with positive evaluations about future innovations that blockchain
will bring. Bitcoin demonstrated the possibility of the functions of money through decentralization, and Ethereum used smart contract with technological advances to create a foundation
on which many applications could actually operate. Smart contracts and decentralized applications (DApps) enable various services on the blockchain. As DApp services have increased and
diversified, the blockchain ecosystem has matured. Given the superior incentivization structure,
stability, and transparency under the decentralized network, DApps can be a game changer for
the entire software business in the near future.
However, the speed of DApp’s development is significantly below the public’s expectations,
and there are even doubts about the effectiveness of the blockchain technology itself nowadays.
Particularly, limitations are found, for example, Ethereum network with more than 1,000 DApps
is unable to provide effective technical support due to scaling issues. In addition, efforts to solve
all the problems about decentralization, safety, and scalability (called Trilemma) at once in the
protocol level, have led to the phenomenon of “Protocol Fever,” in which the number of protocols
is larger than that of DApps. Given the fact that DApp developer’s first decision is to select
a blockchain network protocol to provide DApp services, the current phenomenon of Protocol
Fever is a major impediment to stable DApp development environment. The presence of various
protocols and diverse DApps deepens mismatches with each other’s needs.
Despite the structural problems of this blockchain technology, it has revolutionized beyond
the national and industrial sectors, and most of them have been commercialized using their own
managed blockchains (or private blockchains). In the field of copyright and logistics in particular,
the private blockchain is pioneering new areas with unique data reliability and performance
improvements. For instance, “IBM Food Trust,” a blockchain-based food tracking network that
was commercialized in October 2018, is a system that utilizes its own managed blockchain by
sharing all details such as food origin and transportation records.
The ecosystem of dynamic DApp environment is essential for the development of blockchain
as an innovative service. As with many other high-tech fields, the DApp field has difficulties that
must be surmounted to construct its ecosystem and establish stable business service platforms.
In this chapter, based on the technical environment of the blockchain described above, we define
the problems that may arise in the DApp development environments, present the prerequisites
for its solutions, and ultimately show Bifrost solutions for the DApps to work.

Activity

Followers:
18 988
VERY HIGH
Tweets:
437
HIGH
30 Days Growth:
2048

Bifrost Last News

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Ticker:
BFC
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