Blockchain adoption is being hindered by current crypto strategies. Businesses are exposed to uncertain operating costs when gas tokens exhibit inflationary behavior similar to commodities and fluctuate in price dramatically. Blockchain technology, in the opinion of Unifi Protocol ($UNFI), has a crypto problem. Without introducing a native currency, they aim to disrupt industry norms and develop a blockchain that is more economically viable.
To solve this ‘crypto problem’, Unifi Protocol ($UNFI) is creating the next class of blockchain, built on the principle of economic sustainability.
Stablechain, the new blockchain being built by Unifi, will not have its own native cryptocurrency, but rather will rely on existing stablecoins to pay for transaction costs (gas). Stablecoins are pegged to another currency, like the US Dollar, and usually do not fluctuate in price.
Juliun Brabon, Unifi Protocol CEO, said:
“A tokenless blockchain like Stablechain will incentivize innovation across all industries more sustainably, by creating a cycle of reliability, predictability, and efficiency. When businesses and users are only paying for the cost of using the network, instead of acting as investors in a native token, it creates the stable ecosystem necessary for innovation. I cannot wait to see what people will build on Stablechain.”
How Does Stablechain Work?
Stablechain will utilize stablecoins to pay for transaction costs (gas). A stablecoin as the gas token will automatically remove transaction volatility and speculation from the expense of running a business utilizing blockchain technology. Unpredictable operating costs is currently one of the biggest hurdles to blockchain adoption.
What Does Stablechain Offer?
Businesses will be able to build on Stablechain with known costs and no exposure to holding volatile cryptocurrencies. All industries can benefit from these efficiencies and cut down on their network and server costs by incorporating blockchain tech into their business models. While previously this was seen as disruptive and risky, building on Stablechain can offer a seamless transition to Web3 without requiring customers to interact with any “crypto app.”
Unifi Protocol – the Team Behind Stablechain
Stablechain is a brand new type of blockchain free of the limitations imposed from building a network that relies on cryptocurrency tokenomics to operate. Unifi Protocol is no stranger to pioneering innovative blockchain solutions. Unifi is launching its fully-collateralized UP token on the first of many blockchains, serving as one of the first “crypto savings accounts” with low-risk, secure yield generation.
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