Nibiru — Doing Proof-of-Stake (PoS) The Right Way
Nibiru shines as possibly the fastest growing 2024 star in the Layer 1 ecosystem (its community having grown over 4x), being the only proof-of-stake (PoS) blockchain that focuses specifically on making the developer and user Web3 space more accessible, secure, and efficient with the most comprehensive suite built natively to date.
This is a bold mission and Nibiru lives up to the use cases it set out to provide for users in the vast Web3 space. Designed to solve the pressing issues of accessibility, security, and efficiency in DeFi, Gaming, RWAs, among others, Nibiru boasts a suite of innovative solutions like Nibi-Perps, Coded Estate, Nibi-Swap, Nibi-Oracles, and the NUSD stablecoin. Each with a specific purpose.
Nibiru plugs right into the heart of Web3 to solve existing problems and pave the way for a future where blockchain is integral to our financial infrastructure.
One Chain, Many Use Cases
The Nibi-Perps protocol is a vital part of Nibiru, and a game-changer in the world of perpetual swap trading. This entirely on-chain Decentralized Exchange (DEX) allows users to engage in leveraged trading with up to ≈10x leverage on popular assets like BTC, ETH, and ATOM, all settled initially in USDC. Nibi-Perps stands out by offering a seamless trading experience with minimal gas fees, a testament to Nibiru’s commitment to cost-efficiency and user satisfaction.
Nibiru’s Coded Estate is another awesome project that gives users the power to own, rent, and invest in real estate right from their blockchain wallet. By removing the barriers to real estate investment and making it accessible to anyone, anywhere, Nibiru is truly redefining ownership in a decentralized world.
Nibi-Swap is Nibiru’s automated market maker protocol that transcends the limitations of single-chain assets. It lets you swap, pool, or engage in bonded liquidityю, making it easier than ever to navigate the multichain universe.
Next, we have Nibi-Oracles to provide low-latency feeds from both external APIs and smart contracts. Think of Nibiru’s decentralized oracles system as the backbone of reliable asset pricing on the platform.
Finally, the NUSD stablecoin pairs with the NIBI token to facilitate seamless crypto-to-fiat and ensure liquidity and stability across the Nibiru ecosystem.
A Closer Look at Nibiru’s Edge
- Outstanding Performance: Performance-wise, Nibiru excels. The network can process 40,000 transactions per second, has instant finality and 1.4 second block times even with a maximum-capacity, decentralized validator set. Nibiru empowers developers to seamlessly build a future of decentralized applications.
- Parallel Optimistic Execution: A fundamental limitation in scaling many blockchains today is the inefficiency of sequentially executing transactions. Nibiru Chain addresses this limitation by introducing support for parallel, or optimistic, execution allowing multiple independent transactions to be processed simultaneously.
- Unrivaled Security: Smart contracts in Nibiru’s primary execution engine (Wasm) are impervious to the vast majority of common attack vectors, such as reentrancy, arithmetic overflow/underflow, short address attacks, and many others that plague the Web3 landscape. Nibiru’s resilient security enables high-reliability apps to be brought to life more rapidly and scale to serve the growing blockchain user base.
- Comprehensive Developer Toolkit:
- Web3 Software Development Kits (SDKs) in several modern programming languages like TypeScript, Golang, Python, and Rust.
- Nibi-Indexer: A user-centric tool that offers transparent blockchain data for analyzing smart contracts and transactions via GraphQL. Nibi-Indexer is an indispensable resource for developers, providing reliable on-chain data for trust and verification.
- Nibi-Oracle: Presenting a native oracle solution, Nibi-Oracle allows validator operators to actively participate in oracle consensus voting to integrate off-chain data onto the blockchain with high fidelity.
- Native EVM-compatibility: Builders on Nibiru have the flexibility to choose their execution environment, opting for either the security and performance of Wasm or the convenience of the EVM. Scheduled for release in 2024, native EVM support will open the door for the global community of EVM developers to leverage familiar, existing tools and programming languages. - Nibiru boasts an open ecosystem featuring a collection of dApps, combining various functions such as exchanges, stablecoins, data indexers, and smart contract royalties into one unified system. The ‘Super App’ aims to provide a seamless and user-friendly experience for everyone, simplifying blockchain development.
Dreaming Big, Making It Happen
Nibiru secured $12 million from Kraken Ventures, ArkStream, NGC Ventures, Master Ventures, Banter Capital, Tribe Capital, Republic Capital, NGC Ventures and Original Capital in just over a year. The very fact it was able to achieve this during a bear market, no less, is a true testament to the amount of work, dedication and thought that went into its complex ecosystem. The diverse and skilled Nibiru team positions the platform as a significant player in the Cosmos ecosystem and the broader Web3 space as a driving force for innovation, poised to significantly impact the blockchain and DeFi landscapes.
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