The cryptocurrency market is increasing with new exciting, and innovative cryptocurrency projects. Yet, these projects continue to create scalability problems for the blockchain networks they exist in. Bitcoin (BTC), the forerunner of all existing cryptocurrencies, is designed with a Proof-of-Work Consensus mechanism to keep up with network transactions. Yet, this consensus mechanism has led to increased transaction fees and a slower transaction process.
Ethereum (ETH) faces similar challenges; although DeFi projects are increasing on the Ethereum network, there are transaction congestions for the average daily user. GryffinDAO sees the scalability issues that new projects face and is ready to provide exciting features to ensure they scale faster.
This article will examine the unique features of GryffinDAO (GDAO) that will benefit new crypto projects and attract potential investors. Also, GryffinDAO shares significant benefits compared to Solana (SOL) and AAVE Coin (AAVE), which this article will consider.
FEATURES OF GRYFFINDAO
GryffinDAO is a decentralised community-driven protocol to make a significant impact in cryptocurrency. The protocol offers the following features:
Binance Smart Chain implementation
By implementing its smart contract on BNB Smart Chain, GryffinDAO can process transactions swiftly, securely, and at lower costs. Also, its native token, GDAO, is a BEP-20 token that encourages swift asset transfers.
Improved DAO Ecosystem
By designing its ecosystem in a Decentralised Autonomous Organisation (DAO), GryffinDAO is governed and controlled by the members who hold its native token, GDAO. GDAO tokens ensure that holders can vote on prospective projects and determine the future of the GryffinDAO ecosystem.
Easy Dapps Development
Since the GryffinDAO protocol is built on BNB Smart Chain, it is compatible with Ethereum Virtual Machine (EVM), where developers within the GryffinDAO ecosystem can develop Decentralised Apps (Dapps) such as Decentralised Exchanges (DEX) and staking protocols. Hence, community members can use these available resources to swap BEP-20 tokens and create an adequate liquidity pool for low-budget crypto projects.
Excellent Staking Rewards
in the GryffinDAO ecosystem, there is an excellent opportunity for community members to buy and hold more GDAO so they can lock in GDAO tokens in a liquidity pool and receive staking rewards.
With more GDAO tokens a user locks in the system, the more passive income you get. Also, with more GDAO tokens in a user wallet, you can become a validator in GryffinDAO smart chain, where you can validate transactions and earn more profits.
GRYFFINDAO (GDAO) VS SOLANA (SOL)
Solana is listed as a top ten cryptocurrency in the crypto market. Solana (SOL) peaked at an All-Time High (ATH) of about 260 in 2021. Solana (SOL) platform provides a robust blockchain network that handles 50,000 transactions per second using a proof-of-Stake mechanism.
Solana platform provides scalability features such as Decentralised Autonomous Organisation (DAO) structure, Delegated Proof-Of-Stake (DPoS) network, and Proof-of-History (PoH) consensus. These features offer better efficiency in transactions.
GryffinDAO is built on the Binance Smart Chain network (BNB), which offers speedy transactions at low costs. Also, community members can hold more GDAO tokens to become validators in the network. They could earn passive income as profits using the proof of stake mechanism.
GRYFFINDAO (GDAO) VS AAVE COIN (AAVE)
AAVE is a Decentralised Finance System that enables the lending and borrowing of crypto assets with interests. AAVE operates a DeFi protocol market based on the Ethereum ecosystem, which is home to many DeFi Projects.
This market enables crypto enthusiasts and users to access lending pools where they can borrow crypto assets and pay them back with interest. These lending pools allow users to stake their tokens and receive rewards.
Gryffin DAO aim to offer lending and borrowing services by implementing yield farming to ensure long-term sustainability. They also operate on Defi protocols and the Proof-of-Stake (PoS) consensus mechanism. These mechanisms allow users in the GryffinDAO ecosystem to use the GDAO in daily transactions without middleman activities and enjoy staking rewards.
GryffinDAO appears to be a solid project
GryffinDAO (GDAO) aims to combine the latest blockchain technology to provide the best utility creation for holders. Built on BNB Smart Chain, the DAO project can provide decentralised, fast, and secure transactions. Also, the community can use GDAO tokens to fully use Dapps and staking protocols within the ecosystem.
Visit gryffindao.com to buy your GryffinDAO today!