Overview of Flash Protocol
Flash Protocol is a new Taproot-powered & decentralized protocol to mint, trade and earn Bitcoin native assets / NFT at high transaction speed and low transaction cost.
Have known about Flash protocol, it is also necessary to know it’s use cases or rather let’s call it key features;
- For the initial and NFT’s issuance, it is total 100% and there is no permission required for this process to take place.
- It’s marketplace is specifically designed and built for enriching assets liquidity and value.
- There is a feature know as BTC Angel Hub, which is a feature that looks like GitHub platform and it’s purpose is to support taproot ecosystem projects.
- BTCFi on Flashchain.
Let’s talk about Flash Protocol’s
Universe Decentralization
What is universe service?
Universe service is essentially a data repository for assets issued. It keeps records of asset issuance and transfer. Historically, such universe service is not decentralized and thus exposed to censorship risk.
Although this risk will make most projects deter from universe service, but with the efforts of Flash protocol on universe decentralization it will become 100% permissionless and censorship resistant.
Conclusion
A network of nodes verifying asset issuance helps to achieve the decentralization of Universe. Hacks and single point failure are avoided.
Quite recently, a vulnerability was detected in Ordinals BRC-20 token trading market where sequencer (universe) is hacked by third-party and lots of fake tokens are issued and traded. In such case, the Universe is hacked because is centralized and prone to hack. It sets a perfect example on the drive behind our efforts to make a decentralized Universe service for Flash Protocol.
To learn more about Flash protocol;
#blockchain #flashprotocol
