Cheetah Protocol

Cheetah is building its own decentralized finance (De-Fi) ecosystem to compete with Ethereum. Cheetah is also working on a bridge to the Ethereum network, which will allow users to transfer assets effortlessly between the two networks. Cheetah Protocol, the company behind Cheetah, believes we’ve created the world’s quickest and scalable smart contract blockchain platform. Cheetah operates at internet-scale for a future when crypto is a global backbone technology, thanks to the use of four separate blockchains beneath the hood. The time it takes for a crypto transaction to process and be regarded permanent and irreversible is known as the time to finality. Once a transaction has reached finality, it cannot be reversed or changed. Clearly, finality is an important blockchain characteristic particularly for financial applications, but the time it takes for a blockchain to reach finality varies. Ethereum, for example, reaches finality in under a minute. Cheetah reaches finality in a fraction of a second, which is near-instantaneous in real-world applications and this matters the most in today’s world. Cheetah is fully compatible with Ethereum’s solidity, remix and EVM. Users can import solidity decentralized apps and execute on Cheetah.

Defi needs Speed and a scalable solution

Traditional blockchains have failed to strike a balance between scalability and decentralization. With more users and activity, a network may struggle to reach agreement on legitimate transactions rapidly. Bitcoin (BTC) is an excellent example of the problem, with transactions taking hours or even days to complete during periods of network congestion. Making the network more centralized and giving fewer individuals more authority to authenticate network activities is one strategy to prevent this. Transactions may be confirmed considerably more rapidly if fewer persons have to review and validate them. Decentralization, on the other hand, is a crucial and desirable feature of blockchain technology. With technical improvements, new blockchains are continually attempting to overcome this problem, and Cheetah has developed a unique method. Cheetah is a flexible smart contract platform for creating custom blockchain networks and decentralized applications especially for those focused on Decentralized finance, Non fungible tokens, web 3.0 and metaverse. Cheetah is a blockchain platform with smart contracts that focuses on faster transaction speed, cheapest costs, and environmental friendliness. Cheetah’s ultimate goal is to create a highly scalable blockchain that doesn’t compromise decentralization or security. The Cheetah crypto platform, is one of several initiatives vying to dethrone Ethereum as the most frequently used smart contract platform in the blockchain ecosystem. With a transaction throughput of 110000+ transactions per second, Cheetah promises to be more scalable than Ethereum. Cheetah’s native CHE token, which has a restricted supply of 220 million, is used to pay network transaction fees as well as part of the Cheetah consensus process.