All about Portal Finance

With Portal, Decentralized finance becomes uncensorable, peer to peer, and trust minimized. Just like the underlying properties of Bitcoin. Portal swaps move provable execution of cross chain contracts to layers 2 and 3, which allows the speed and liquidity of centralized alternatives, with the trust minimization guarantees of Bitcoin.

What makes Portal unique:

Users of Portal may earn Bitcoin (and other cryptocurrencies) by acting as “facilitators” for traders in the market using the “Portal Swap Protocol”, a powerful new off-chain technology which helps keep trading data private. The protocol ensures the following properties:

1) Fairness (“Priced Optionality”): Traders pay a fair market price for the duration of the swap offer, ensuring no “free option” is given to the counterparty, a problem plaguing other atomic swap protocols. In Portal, everything is a market, including orderbook aggregation.

2) Facilitation: Network members are economically incentivized to assist peers in strengthening their connectivity to the network, ensuring low-cost, high efficiency of liquidity routing. By providing their resources (capital bonds, data storage, validation, and even general-purpose computation), network nodes earn a “round token”, redeemable for a portion of the network’s accumulated fees.

3) Trust-minimization: Contracts in Portal are self-sovereign; meaning you & only you have control over your assets. Using a feature of Bitcoin known as “point time-locked contracts” Portal ensures you retain control over the funds offered up in trade, preventing counterparty risk and loss of funds.

Features of Portal Finance

Portal is built using Fabric, an open-source toolbox for deploying censorship-resistant layers on top of Bitcoin:

  • Censorship-resistant “Layers” on Bitcoin: Fabric simplifies the construction of censorship-resistant applications (or “layers”) on top of Bitcoin’s blockchain (the “base layer”), enabling new systems to inherit the advanced security, censorship resistance, and thermodynamic security of the Bitcoin Network.
  • De-Financed Finance (also known as “self-sovereign assets”): Through Portal, one can deploy and execute financial contracts without trusting a third party. Fabric enables ad-hoc coordination of “witnesses” to contract outcomes, enabling the completely private, off-chain execution of “smart contracts” (including as asset issuance, swaps, lending, borrowing, staking, liquidity, derivatives, and more).
  • Cross-Chain Interoperability: Applications built with Fabric are interoperable, enabling rapid integration between Fabric-speaking applications. With cross-chain support, users can access the speed and liquidity of centralized alternatives with the trust minimization guarantees of Bitcoin, making Fabric a “connective tissue” between blockchains.

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