What Is RioDeFi (RFUEL)?
RioChain network provides access to cross chain DeFi services. It efficiently connects and process transactions across various types of networks. RioChain is a public Blockchain built on the Parity Substrate framework and fully compatible with the POLKADOT network. DeFi stands for Decentralized Finance. It enables a global, open alternative to every financial service you use today — savings, loans, trading, insurance and more — accessible to anyone in the world with a smartphone and internet connection. The world’s financial system needs upgrading. In an age of increasing globalization, money transfers still rely on outdated legacy systems.
Payment solutions and financial services require numerous intermediaries and are often soloed. Most forms of currency are issued and controlled by centralized governments. More than one third of the world’s population is still unbanked and as such cannot partake in the global economy. Every year, migrant workers around the world spend over $38 Billion on transaction fees and currency conversion fees to send payments back to their families; total fees average around 7% of the payment amount. These high fees have a large impact on poverty and growth rates in developing countries.
RioDeFi Storage Key Points
|Circulating Supply||299,200,837.89 RFUEL|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
RioDeFi is a blockchain technology company. Your mission is to accelerate the mass adoption of digital assets by bridging traditional and decentralized finance. Ten years ago Bitcoin emerged as an alternative global payment system. Its value proposition is fairly simple instead of the traditional reliance on centralized banks and third-parties, Bitcoin provides a decentralized, open, and peer-to-peer payment system.
The Growth of Decentralized Finance (DeFi)
RioDeFi foresee an emerging third phase, the Institutional Phase, where Bitcoin is increasingly held as an asset by financial institutions such as banks, hedge funds, pension funds, sovereign wealth funds, endowment funds, and others. Why would they hold Bitcoin? It’s a hedging instrument against the risks inherent in centralized fiat currencies, debt instruments, and equities.
This Institutional Phase should eventually see even governments’ central banks use Bitcoin as a reserve asset alongside gold, fiat currencies, debt instruments, etc. The expansion of the Bitcoin ecosystem over time has translated into a tremendous increase in adoption and value. However, with ever changing transaction fees, high volatility, long confirmation times, and a deflationary economic model, Bitcoin remains a better store of value than a currency for daily use.
These shortcomings are mostly the result of a misalignment between existing platforms’ capabilities and traditional industries’ requirements. RioDeFi aims to bring blockchain technology to the masses by prioritizing adoption, performance, scalability, and ease of use. The current limitations of distributed ledger technologies are well known slow speeds, low transaction throughput, lack of user friendliness, and incompatibility with existing systems.
A Next Generation Platform Built with Substrate
RioDeFi takes very much the opposite view to chain maximalism. They believe the idea that one blockchain should prevail, to the detriment of all others, is a hindrance to innovation in the space and negatively impacts the broader adoption of distributed ledger technologies. On the other hand, they acknowledge that the coexistence of different blockchains requires developing mechanisms for those networks to interoperate.
Over the past three years, inter-chain protocols that facilitate sharing of information and the execution of smart contracts across blockchains have emerged. The blockchain industry is also in dire need of middle ware, tools, and frameworks that developers can plug into easily to build blockchains and decentralized applications more efficiently. One notable initiative that addresses both issues is Parity’s Substrate.
Blockchain for Business
RioDeFi characteristics reflect this philosophy, especially with regard to scalability, interoperability, and upgradability. Existing blockchains are too slow, too rigid, and too foreign to traditional digital infrastructure to be used by most organizations. Your core belief at Rio DeFi is that distributed software solutions must meet businesses requirements in order to be successful.
In most run times, there are states with valid transitions to multiple future states, but a single transition must be selected. The blockchain runtime is a state machine. It has some internal state and state transition functions that allow it to transition from the current state to the future state.