Ethereum Defi Dapp Compound to Launch New Blockchain

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One of ethereum’s most successful decentralized finance (defi) dapp for borrowing and lending assets has announced they are to launch a new blockchain next year. They say this is due to high transaction costs pricing out smaller transactions and also to extend their network effects. The new blockchain will be a Proof of Authority (PoA) Byzantine fault tolerant network with its own unit of account called cash. Cash is meant to reflect the assets locked in the blockchain through what they call a starport. This is a connector with a smart contract launched in each blockchain to lock and unlock assets as validated by the PoA consensus. They claim one can lock assets and unlock them back to the original chain. In addition, an eth address can hold tezos tokens they say or dot tokens. The whitepaper does not provide exact details of how all this is meant to work,…

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