What would happen with defichain if bitcoin where to collapse

Question

What would happen with defichain if bitcoin where to collapse

due to its extreme environmental impact? As defichain is pegged to the bitcoin chain. Can defichain exist independently from bitcoin?

#blockchain #cryptocurrency #defichain #english

0

10.03.2022

9 ответов

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Emiel Автор вопроса

Thanks for the clear explanation. Maybe I misunderstood the "pegged" part in the first video in the learn section of the defichain website.

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10.03.2022

Zachary Chan

Check out the whitepaper in the Design portion linked here. Should elaborate more on how BTC Anchoring makes defichain more secure. Point 5. ‘As immutable as possible’, especially as a young blockchain that’s still growing its user base. https://defichain.com/white-paper/#defichain-design

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10.03.2022

Emiel Автор вопроса

Zachary Chan
Check out the whitepaper in the Design portion lin...

I will

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10.03.2022

DanieL BaptistA

Emiel
Thanks for the clear explanation. Maybe I misunder...

I'm going to give an oversimplistic overview, sorry I'm being driven to lunch, but hope it helps. Defichain is a hardfork of Bitcoin yes, so shares the high security output that characterizes Bitcoin and well, basically it's all. Other than that single point of origin in the past, Defichain is completely independent from Bitcoin. Only the merkle root is anchored, for additional security, as per design decision. Bitcoin was chosen as seed for the creation of Defichain basically because at the vision of the founders, a true Defi ecosystem cannot be subject to the fails that usually characterize other Defi platforms before, based on the Ethereum blockchain. Such fails result in massive funds loss, data steal and more, everything anyone that, under decentralizes finance (this is, anyone being itself it's own bank), cannot be subjected. How to achieve this? Simple, choosing the safest co.puter network known to man, Bitcoin. Other than that, Defichain created it's own path and is craving it as we speak each day. Rest assure, as long as there is a strong community, Defichain will endure 😉 And as always, @zachgax provided a great answer, read the paper, it will enlight you 👍

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10.03.2022

M B

Wow thanks Bro, even I knew, everyone knows by now.

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10.03.2022

DanieL BaptistA

M B
Wow thanks Bro, even I knew, everyone knows by now...

? Sorry don't understand what you mean.

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10.03.2022

M B