There is an increase in the global adoption of cryptocurrencies and other digital assets, leading to smoother transactions than ever before. Apart from major cryptocurrencies such as Ripple, Bitcoin, Ethereum, and Litecoin, many emerging ones exist. Recently, new promising cryptocurrencies such as Web CoinPay (WEC), Trx, Tether, Libra, and Monero, for example, hit the market.
However, it doesn’t remain easy to use cryptocurrencies or other digital assets if people or entities cannot easily and conveniently convert them from one form to another. The good news is that Ferrum’s innovation makes it possible to securely, cheaply, and timeously convert one digital asset to another.
The Ferrum Protocol enables the conversion of a cryptocurrency on a specific blockchain to another on a different blockchain without using a centralized exchange.
Ferrum operates a high-speed interoperable network that interacts with various financial applications to convert one digital asset to another and for their secure transfer. Therefore, the Ferrum protocol creates an interface among different blockchain systems.
For example, using the Ferrum network, the ethereum blockchain easily links with the bitcoin blockchain or any other, enabling an easy conversion of the involved cryptocurrencies. Above this, the Ferrum network has a gateway between cryptocurrencies and other digital assets. As a result, people can convert fiat money into cryptocurrencies of their choice and vice versa.
As you can see, Ferrum is a game-changer in the blockchain and crypto environment as it solves many challenges that hinder the full adoption of digital assets by mainstream businesses and individuals. To achieve its mission, Ferrum powers its network using a native coin, Ferrum Network Utility Token (FRM). When executing a transaction, the Ferrum Network burns a nominal of FRM. This results in cheaper transaction costs.
Ferrum solves many problems that exist in the DeFi ecosystem. It is currently impossible to enable communication, transactions, and conversion of cryptocurrencies or digital assets that exist on different networks without using a central authority.
The solution of exchanging cryptocurrencies, existing on different blockchain systems, using atomic swaps and decentralized ethereum networks has limitations in scalability, security, and speed. Moreover, the existing decentralized exchanges have limited combinations, such as slow and costly transactions.
On the other hand, centralized exchanges have a lower security level because of the possibility of hacking. As a result, many users risk losing their digital assets when hackers access exchange services. This is because centralized exchanges hold all their digital assets, such as cryptocurrencies, in their databases. Therefore, users will not get the full benefits of decentralized finance as long as the system is slow, expensive, and open to hacking. Ferrum’s blockchain innovation solves most, if not all, these problems.
Ferrum offers many solutions to current challenges such as lack of interoperability, poor security, low speed, and high transaction cost.
First, Ferrum enhances interoperability across different blockchain networks, making it easy to convert one digital asset to another. In other words, the Ferrum Interoperability Protocol connects all existing blockchain systems. This results in mass adoption of cryptocurrencies in everyday use.
This interface also allows users to exchange cryptocurrencies with fiat money using no intermediaries. Thus, Ferrum’s link-based swapping system enables users to transfer their digital assets through simple messages without involving wallet addresses. Besides, Ferrum creates greater opportunities for people to invest in cryptocurrencies and other digital assets through its staking feature.
Ferrum’s business model
Ferrum achieves its mission through its vibrant product line. Its main products are the Directed Acyclic Graph (DAG), vertically integrated applications, Fiat Gateway, and payments mobile application (First Kudi, Infinity DEX, UniFyre, and Sub-zero wallet).
The Directed Acyclic Graph (DAG) interoperability network’s function is to connect the various blockchain systems, allowing users to carry out transactions with one another using the peer-to-peer system. Through it, users convert one digital asset to another. The vertically integrated financial application enables users to buy, sell, exchange, and store different cryptocurrencies and tokens, irrespective of the blockchain systems involved. The gas fee is very low since Ferrum’s native token (FRM) powers its network.
The Fiat Gateway and payments mobile application called First Kudi results in quick and cheap transactions when buying, selling, and exchanging cryptocurrencies and tokens, without intermediaries. Ferrum’s blockchain wallet, UniFyre offers secure and convenient transactions. For instance, users can transfer cryptocurrencies to other people or entities without using wallet addresses but through sending text messages.
More importantly, users can recover their cryptocurrencies when they lose their devices or mismanage their private keys. Infinity DEX, its exchange is quick, secure with low cost. For example, you can send your bitcoins, ethereum, or other cryptocurrencies in a split second.
As you have noted, Ferrum offers a unique and advanced package to crypto users. The efficient Infinity DEX, the secure zero wallet, First Kudi, UniFyre, and the Directed Acyclic Graph create a unique user experience.