Knit Finance Forms Strategic Integration with DigiByte
Knit Finance is proud to announce that it will integrate DigiByte, one of the fastest, secure, and decentralized blockchains in the world today!
As Knit Finance continues to march ahead in its mission to unlock the full potential of DeFi, this latest partnership will surely help more investors participate in the explosive DeFi space. More specifically, the collaboration will pave the way for Knit Finance to integrate DigiByte on its multi-chain platform.
Through Knit’s innovative K token standard, DigiByte’s native token will be issued as a wrapped token, K-DGB to promote cross-chain fluidity of $DGB for the benefit of DigiByte users. This issued wrapped token will facilitate transactions across various blockchains.
Commenting on the latest alliance, Knit Finance CEO Sainath Gupta stated, “We are proud to collaborate with one of the front runners of the blockchain industry. We are confident that this collaboration will not just provide new and exciting opportunities for the community, but also help us gain tremendous experience as well.”
Key Highlights
- DigiByte — Multi chain interoperability.
- Users can swap DGB to K-DGB and trade across multiple networks.
- K-DGB users can interoperate across Ethereum, Binance Chain, Moonbeam, Fantom, Heco Chain and Polygon at an early stage, Knit Finance will be adding more networks over time.
- DigiByte users will have options to participate in the DEFI ecosystem.
- kAssets will be listed on more platforms in future where K-DGB users will have the opportunity to participate on it.
DigiByte’s “Forward Thinking” Approach to Blockchain
Launched in 2014 by Jared Tate, DigiByte is more than a digital currency. It’s an open-source community-driven blockchain project created with a focus on security, decentralization and improved performance. Interestingly, DigiByte’s value proposition is radically unique from other blockchains in existence.
One, it’s more secure, leveraging five different PoW algorithms — SHA256, Scrypt, Skein, Qubit and Odocrypt — and real-time difficulty adjustment to maintain decentralization. DigiByte processes transactions much faster for a fraction of the cost, with up to 1066 TPS and a 15-second block completion time.
Even better, the DigiByte ecosystem houses a suite of products like DigiShield , MultiAlgo, Odocrypt, SegWit and notably, DigiAssets. DigiAssets is a secure protocol on the DigiByte blockchain for building smart contracts and dApps, issuing digital assets and for secure authentication through digital identities.
With the introduction of DigiAssets, limitless possibilities for traditional and digital assets can be unlocked across various industries on the DigiByte blockchain.
About Knit Finance
Knit Finance is a unique decentralized protocol that integrates its wrapped ‘k’ token standard across multiple chains, bridges, and real-world markets. Knit bridges multiple non-Ethereum blockchains, allowing both crypto and real-world assets to move across these chains as wrapped tokens.
📰 INFO
