What Is Bifrost (BFC)?

What Is Bifrost (BFC)? Complete Guide Review About Bifrost.

What Is Bifrost (BFC)?

However, the speed of DApp’s development is significantly below the public’s expectations, and there are even doubts about the effectiveness of the blockchain technology itself nowadays. Particularly, limitations are found, for example, Ethereum network with more than 1,000 DApps is unable to provide effective technical support due to scaling issues. In addition, efforts to solve all the problems about decentralization, safety, and scalability Bifrost at once in the protocol level, have led to the phenomenon of “Protocol Fever,” in which the number of protocols is larger than that of DApps.

Given the fact that DApp developer’s first decision is to select a blockchain network protocol to provide DApp services, the current phenomenon of Protocol Fever is a major impediment to stable DApp development environment. The presence of various protocols and diverse DApps deepens mismatches with each other’s needs. Despite the structural problems of this blockchain technology, it has revolutionized beyond the national and industrial sectors, and most of them have been commercialized using their own managed blockchains (or private blockchains).

Bifrost In the field of copyright and logistics in particular, the private blockchain is pioneering new areas with unique data reliability and performance improvements. For instance, “IBM Food Trust,” a blockchain-based food tracking network that was commercialized in October 2018, is a system that utilizes its own managed blockchain by sharing all details such as food origin and transportation records.

Bifrost Storage Key Points

Coin BasicInformation
Coin NameBifrost
Short NameBFC
Circulating Supply1.11B BFC
Total Supply2,368,584,073
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Approaches for efficient solutions

Bifrost consider the following two approaches to get efficient and practical solutions to the three problems outlined above in the DApp development environment. First, no single blockchain main net protocol can be the solution for a DApp platform. Since they do not have “the perfect blockchain,” it is inefficient and risky to depend on one blockchain
mainnet as a platform. Second, adding OS or abstraction layers increases overheads only. Implementing improvements via main net blockchain extension may overload the entire system and limit scalability.

Bifrost method

The premises above suggest that Bifrost need a brand new platform, where they can use existing blockchain systems as building blocks to achieve the strength of each system and organize environments for independent DApp services at the same time. That is, if can make a Dapp platform that combines multiple blockchains that provides the reliability and safety as well as some customizability with using internally operating blockchain network, the problems of the DApp development environment can be solved.

Container applications

Bifrost One blockchain can form an independent Container and each Container can have a different setup. That is, the creation and destruction of the Containers are dynamic, and performance tuning, such as increasing the speed of transactions or enhancing anonymity, can be applied to the Containers. In addition, a new approach to managing the Containers is possible. For instance, an independent Container can be operated and destroyed after execution if the service must not be recorded.

Multi-component DApp reconstruction

Bifrost, including smart contracts on the platform are reconstructed to have appropriate components for each blockchain and run simultaneously. Therefore, DApp can implement the high performance as well as the safety verification of multiple blockchains. The reconstruction technology of multi component DApps is working for the existing DApps, and it will be upgraded to support the full flexibility of Bifrost by introducing a new high-level programming language.

Bifrost has the real potential to expand the horizons of DApps. DApps can ultimately overcome platform risk from the blockchain main net protocol and utilize the strength of more than one blockchain by using combinations.