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Unifi Protocol claims to have solved the issues of volatility and speculation that plague the cryptocurrency industry. Stablechain, the new blockchain announced today 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.
How Does Stablechain Work?
A stablecoin as the gas token removes transaction volatility and speculation from the expense of running a business utilizing blockchain technology. Unpredictable operating costs is currently the biggest hurdle 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.
Juliun Brabon, Unifi Protocol CEO, says, "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."
About Unifi Protocol
Unifi Protocol is a community-founded organization, with the drive, passion, and ability to be disruptive in the most disruptive industry of our lifetimes. We believe blockchain technology has a crypto problem, so we’re looking to challenge the standards of the industry and build a more economically sustainable blockchain without creating a native currency.
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Steve Green - Operations