Sui and Aptos: Top 2 New Blockchains & How They Impact the Market

Introduced in early 2008, blockchain solutions have been evolving a lot over the past few years. According to Globe Newswire, the Global Blockchain Technology Market size and share revenue was valued at nearly $4.8 billion in 2021, and is expected to reach an impressive $69 billion by 2030.

With more and more market giants entering the industry, we can now see dozens of new blockchain technologies being introduced in the market. Sui and Aptos are among them.

In this article, IdeaSoft experts have compared both ecosystems, covering their architecture and basic features and the perks and downsides of each in order to help you better understand their potential and prospects for your upcoming projects.

Table of content

Aptos & Sui Ecosystems: A Snapshot Comparison
Sui Ecosystem: A Complete Overview
Aptos Ecosystem: A Complete Overview
How Do These Blockchains Impact the DeFi Market?
Launch Your Blockchain Solution with IdeaSoft
Wrapping Up

Aptos & Sui Ecosystems: A Snapshot Comparison

Before we start getting into a detailed review of each, it will be good to get an overall idea of Aptos and Sui blockchain solutions. So, let’s quickly take a look at the key features of both ecosystems to get a better idea of the similarities and differences between the Aptos and Sui’s blockchains, respectively.

These are the basic characteristics of the Sui and Aptos environments, so now we’ll review the specifics of each ecosystem in detail.

Sui Ecosystem: A Complete Overview

Sui is the first permissionless Layer 1 blockchain solution designed for the development and creation of different expertise levels for launching innovative crypto solutions for billions of users. One of the most notable features of Sui is horizontal scalability, which enables efficient dApp development at a lower cost.

Overall, Sui’s architecture is known for its instant settlement, high throughput, rich on-chain assets, and outstanding web3 experience.

How Does Sui Work?

The blockchain operates at a speed and scale previously thought to be unattainable. Unlike some of its alternatives, Sui enables transactions to be run in parallel, providing low latency due to its requesters or proxies proactively reaching validators to successfully complete transactions. Finally, the support of Move-based smart contracts greatly benefits its security, scalability, and more understandable programming model.

The architecture of Sui Blockchain

According to Sui’s architecture documentation, the ecosystem consists of three major components:

Programmable Objects – built and managed by smart contracts on the Move programming language, which also act as objects themselves. Additionally, all the objects are classified into variable data values and invariable packages.
Transactions – record any changes or updates within Sui’s ecosystem.
Validators – enables users to read the stored assets, historical records of the transactions processed, and so on. Basically, that’s the backbone of Sui’s network.

Additionally, ecosystem Sui features the Sui Consensus Engine with Narwhal (which ensures the availability of the submitted data) and either Bullshark or Tusk solutions (responsible for setting up the ordering of such data).

Programming Language

The Sui ecosystem is based on the Rust-based Move programming language, the specific open-source bytecode language which is mainly used for the development of customizable transactions and smart contracts. Additionally, this language is highly valued for higher safety and security levels, as well as facilitating a smooth transition from Web 2.0 to Web 3.0 – the last one is extremely important for blockchain, cryptocurrencies, and token-based solutions.

Basic Features of the Sui Ecosystem

Software development on the Sui blockchain can bring a variety of benefits, including a simplified coding process, reduced risks of errors in the initial stages of development, and building applications regardless of the infrastructure specifics.

Talking about the features of the Sui blockchain, it’s worth mentioning the following aspects:

Enhanced productivity and lower latency. Sui can handle a large number of transactions per second (TPS) – 120,000 (based on the testimonials data on an 8-core M1 Macbook Pro device)
Parallel execution. With the data organized into separate objects, Sui supports parallel agreements on causally separate transactions.
Horizontal scalability. The network can also scale horizontally due to its parallel agreement on causally independent transactions.
Different participation options. In Sui, participants come in three categories: Users, Token Owners, and Validators, which opens up a wider range of transaction-based actions.
Lucrative rewards and loyalty programs. Sets up large-scale airdrops, reaching millions of crypto users through low-cost transactions.

Realizing the potential benefits for business of the Sui blockchain, the technology has been intensively used across a variety of scopes. In particular, it has been implemented in complex games and business projects, on-chain DeFi and TradFi primitives, asset tokenization services, decentralized social media networks, and many more.

Possible Drawbacks to Consider

Knowing the potential drawbacks of Sui will help you explore and get ready for the major pitfalls which might occur during the development process. Overall, there are three aspects to keep in mind:

Design complexity. Sui’s design is based on two protocols – a protocol based on Byzantine Consistent Broadcast (for simple transactions) and a consensus protocol (for transactions with shared objects). Therefore, developers will require a much larger programming codebase.
Sequential writing. Though this benefits the transaction speed, Sui users can only send one transaction at a time.
Complex total queries. At Sui, total queries can be more difficult than in traditional blockchain solutions, as it does not always impose the total order of transactions.

Also, it’s worth highlighting that Sui’s proprietary programming language is Move, which was introduced in 2020. This means there are relatively few developers with deep expertise in Move coding, which can potentially help you make the most of the Sui ecosystem.

Who Invests in Sui

So far, Sui has raised $36 million in Series A funding, which was led by over a dozen market giants, including Andreessen Horowitz’s a16z. Other participants in Sui’s funding include Redpoint, Lightspeed, Coinbase Ventures, Electric Capital, Samsung Next, Slow Ventures, Standard Crypto, NFX, and Scribble.

The Sui blockchain has recently completed its $300 million in Series B funding, with major investments from Binance Labs, FTX Ventures, Jump Crypto, Circle Ventures, a16z and Andreessen Horowitz. It’s also worth mentioning that its creators have recently announced the upcoming launch of the SUI token, designed mainly for gas fees and staking.

Aptos Ecosystem: A Complete Overview

Similar to Sui, the L-1 ecosystem Aptos is based on the Move language, which ensures low latency and zero downtime for block commitments. It’s also worth mentioning that Move was initially designed to support the Aptos blockchain, providing excellent safety, predictability and interoperability.

Overall, Aptos blockchain enables smooth access to all the advancements of decentralization with cutting-edge technologies and advanced research, which has made it extremely popular across DeFi and gaming projects. Impressively, this solution has become the 52nd largest cryptocurrency by market capitalization.

How Does Aptos Work?

As of the time of this writing, Aptos provides extremely high TPS performance that theoretically reaches up to 160,000 transactions without sacrificing its security or reliability. Similar to the Sui ecosystem, this blockchain works by storing information as a resource, which potentially makes it more secure and faster in processing. The parallel execution model reduces the latency and cost of transactions while increasing their speed.

In addition, Aptos leverages the Byzantine fault tolerant (BFT) engine, which is used to analyze the individual states on-chain and automatically update validators per need.

The architecture of Aptos Blockchain

Aptos architecture has been developed over the past three years and includes a variety of innovative technologies and novel solutions in many aspects. First, the blockchain features a robust design of smart contracts, advanced system security, performance and decentralization.

Additionally, the unique feature of Aptos is the ability to leverage two protocols Proof-of-Stake and AptosBFT – the Byzantine fault-tolerant protocol that can continue to operate normally even if some of its members turn malicious or go offline, without any human intervention. Finally, its architecture allows private key recovery, which enables regular changes of private keys to make them more secure.

Programming Languages

The programming language in Aptos software is Move, the same one used as a base for the Sui ecosystem. One of its most important advantages is the ability to perform transactions at improved speed and with better security.

Additionally, Aptos comes with a formal verifier – “Move prover” – a Move-based solution for smart contracts, which can potentially strengthen the security of contract invariants and behavior. In turn, this can also help developers secure the Aptos-based dApps from a different range of cyber threats.

Basic Features of the Aptos Ecosystem

Before you start considering the Aptos-based software services, let’s review some of the most foundational features of this blockchain solution. This will help you better understand the development specifics, as well as the overall potential of Aptos blockchain for your business.

Data Model. The data model in Aptos enables flexible key management and hybrid custodial options. In addition, this blockchain ecosystem also has improved transparency before signing and lightweight client protocols, which significantly speeds up the data flow and provides a more trustworthy user experience.
High Transaction Execution Speed. The development company claims Aptos network processes 130,000 to 160,000 transactions per second, which results in low transaction costs for its users.
Scalability and Decentralization. Aptos highly prioritizes heterogeneous validators (constrained CPU and/or constrained storage). Additionally, the blockchain provides reduced barriers to running code and lower hardware requirements compared to alternative options.
Parallel Execution Engine. Similar to Sui, this feature allows simultaneous execution of multiple transactions, which reduces the risks of delays. Moreover, the transactions that fail are aborted and re-executed with advanced STM (software transactional memory) libraries designed to timely address the conflicts.

The combination of these technologies has made software development on the Aptos blockchain extremely efficient and profitable. So far, it has become the ultimate solution for over 30 DeFi projects, covering exchanges, lending protocols, and liquid staking.

Possible Drawbacks to Consider

Apart from the advantages, it’s also important to take into account the possible drawbacks of Aptos. Overall, these include the following aspects:

Time-consuming deployment. The most confusing aspects here are tricky compiler errors and devnet error responses, which are quite challenging to manage.
Tricky setup process. In some cases, it might be more tricky to set up the system rather than code. Additionally, it might take some time to adjust to the language and environmental specifics.

Who Invests in Aptos

As of the time of writing, the total funding of Aptos is valued at $350 million, with the latest investors in the blockchain solution being Andreessen Horowitz, Jump Crypto, Superskrypt, Franklin Templeton Investments, FTX and more. In September 2022, Binance joined the list of Aptos investors in the Series A round, but the amount of input wasn’t published.

How Do These Blockchains Impact the DeFi Market?

At present, both blockchain solutions – Aptos and Sui – have successfully raised big sums of capital over less than two years since their official releases. However, considering there are a lot of similarities and only a few key differences between these ecosystems, it is definitely difficult to determine which one will be more successful in the emerging decentralized finance market.

One of the most common use cases of Sui in DeFi is the asset denomination for the Sui platform, where a token is required for paying gas fees for transaction-related processes. It is also applied across various applications to perform the basic features of money (storing value, conducting payments and so on). Additionally, Sui’s architecture specifics allow its use in the proof-of-stake (PoS) mechanism, the tool aimed at securing a blockchain to help it maintain accurate information.

According to Fortune, Sui is currently targeting three killer apps: finance, digital commerce, and gaming. In particular, a few South Korean game giants have implemented this blockchain into their projects to build gaming apps with token economics.

Talking about the Aptos blockchain, the token is currently used for performing transaction fees on networks and enables network users tyo elect and vote for delegates to legitimize the block using the delegated proof-of-stake mechanism (DPoS). Also, similar to Sui, Aptos can be applied for on-chain community governance.

The key point about Aptos in the DeFi market is its ability to build various tech solutions on its blockchain. Currently, there are over 30 examples of its successful implementation into projects. One such example is Aries Markets – an Aptos-based decentralized margin trading protocol.

Launch Your Blockchain Solution with IdeaSoft

To sum up, both blockchain ecosystems have advantages. Regardless of the selected blockchain ecosystem, Sui or Aptos, the success of the project also heavily depends on the developers’ expertise. At IdeaSoft, we have years of experience launching multiple blockchain solutions that can boost your business performance and enhance its profitability as well.

So far, we have been intensively cooperating with world-class companies and high-profile technical partners, helping them tackle various challenges in mobile and web development, blockchain solutions, AI and Machine Learning and so much more. In our portfolio, you can find over 250 projects across a diverse number of industries, including fintech, agtech, logistics, healthcare, retail and others.

Do you already have a project for us? Reach out to our professional team and discover the lucrative opportunities of Aptos and Sui blockchain solutions for your business today!

Wrapping Up

Having listed the most notable features of the Sui blockchain, as well as the structural specifics of the Aptos blockchain, we can summarize that both blockchain ecosystems can become powerful solutions for numerous software development projects. Both blockchains are built on Move, a new smart-contract specific programming language that features advanced security and privacy for its users.

However, it’s difficult to understand which will perform better in practice, Sui or the Aptos token. While the first one offers more room for development, the other one is highly valued for its continually evolving design.

No matter which token you decide to implement into your project, IdeaSoft will have you covered. Our team has been delivering high-end software services for businesses of different scales and industries, helping them enhance their performance and revenues over time. Contact us today and discover the best solutions that ideally meet your project’s objectives and needs!

Main Trends of Web3.0 for 2025

The cryptocurrency market is about to reach 992.5 million users by 2028, which makes web3 a great trend itself. But what about the trends that drive the crypto market itself? At IdeaSoft we work closely with numerous blockchain startups and always stay up-to-date with the latest technology achievements and brand-new strategies.

Our extensive case study portfolio also shows our in-depth web 3.0 expertise. In this article, we will share our thoughts about the latest blockchain industry trends and describe them in more detail.

Table of contents:

What is Web 3.0?
Top web 3.0 trends
Advantages of Web 3.0
Comparison of Web 3.0 vs. Web 2.0
Blockchain at the core of Web 3.0
Challenges of implementing Web3.0 into business

What is Web 3.0?

Web 3.0 is taking shape right now as you read this article.

Web 3.0 is a concept of the Internet in which new “people’s” social networks, search engines, and trading platforms are emerging with no host companies. Blockchain, artificial intelligence, cryptocurrencies, and metaverses are key technologies in the new Web 3.0 era.

Signs of Web 3.0 are:

Decentralization
Blockchain
Use of cryptocurrency as the primary currency
Semantic Web
NFT and Metaverses
Virtual and augmented reality
Privacy protection
IoT

The main concept behind the Web 3.0 era is that it does not rely on centralized servers that belong to specific people or companies. They can be replaced by a distributed database that is stored differently. If we are talking about your classic apps (Apps), they are transforming into decentralized apps (dApps). The author of the Web 2.0 concept, Tim O’Reilly, proposed to define Web 3.0 as the interaction of the Internet with the physical world.

Top Trends in Blockchain Technology That Are Shaping The Industry

Due to our research and numerous visits to leading industry events such as Consesnsys Conference, WebSummit, Token2049, Blockchain Week, ETH community events, etc., we foresee that 2024 is poised to witness groundbreaking trends that will shape the future of the decentralized ecosystem. In this section, we explore the top seven Web 3.0 future trends that are expected to dominate the crypto space in 2024, each presenting novel opportunities and advancements.

DeFi 2.0

Building on the success of DeFi, the next iteration (DeFi 2.0) will introduce innovative protocols, interoperability, and enhanced user experiences. Expect decentralized lending, borrowing, and yield farming to reach new heights, further challenging traditional financial systems.

ReFi Solutions

ReFi emerges as a sustainable and ethical approach within the crypto space. Projects focusing on environmental impact, social responsibility, and community regeneration will gain prominence. Blockchain-based solutions will drive positive change and foster a more regenerative and inclusive financial ecosystem.

Zero-Knowledge Proofs Revolution

ZKPs remain one of the biggest trends in blockchain and now will become a cornerstone of privacy and security in blockchain transactions. With advancements in cryptographic techniques, ZKPs will empower users to prove the authenticity of information without revealing the actual data. This trend will find applications in various sectors, from finance to healthcare.

Cross-Chain Operability Unleashed

Overcoming the siloed nature of blockchains, cross-chain operability will take center stage among blockchain trends. Projects and protocols facilitating seamless communication and transactions across different blockchain networks will foster greater collaboration and efficiency within the decentralized ecosystem.

Account Abstraction and Social Recovery

The integration of account abstraction and social recovery mechanisms will enhance security and user accessibility. Users can regain access to their accounts through social connections, reducing the risks associated with lost private keys. This marks a significant step toward user-friendly blockchain experiences.

Tokenization of the Real-World Assets

Tokenization continues to evolve beyond digital assets trends. Real-world asset tokenization, including real estate, art, and other tangible assets, becoming even more prevalent. This trend not only enhances liquidity but also democratizes access to traditionally exclusive investment opportunities.

SocialFi – Bridging Social Media and Finance

The convergence of social media and decentralized finance, known as SocialFi, will reshape online interactions. SocialFi platforms will leverage blockchain technology to enable users to seamlessly transact, share assets, and participate in financial activities within their social communities.

Advantages of Web 3.0 technology for businesses

Who will pay for Web 3.0? Advertising currently pays for and gives life to most content on Web 2.0. This has led to monopolies and a hegemony of Internet advertising that controls the flow of information.

New models of monetization should be used to eliminate this unhealthy control over the “funding” and “organization” of the Internet. Cryptocurrencies and instant microtransactions will allow everyone to pay for Internet content directly.

Advantages of Web 3.0 are:

Enhanced privacy & anonymity
No central point of control. Intermediaries are removed. Blockchain gives a platform on the principle of “trust no one” (which leads to consensus), where rules are unbreakable, and data is fully encrypted.
Data ownership. End users will have full control over their data and provide encryption. Information can then be divided into private and authorized. Users can share their information if they want.
Uninterrupted access. Anyone can create an address and interact with the network.
Automated service. Suspension and denial of service are greatly reduced. Since there is no single point of failure, service disruptions will be minimal.

Web 3.0 will shift power from the big Internet corporations to the users and creators of the Internet. At IdeaSoft, we can help you safely implement Web 3.0 technology in your project or even launch your own startup whether it is a crypto project, a fintech product, or a B2B solution. Having over 5 years in blockchain development under our belts allows us to work on the most complicated tasks.

Thinking of implementing web 3.0 technologies into your business?

Let us help you figure it out, and correctly draw up the requirements for your project

Moving to Web 3.0 and implementing this technology in your project will allow you to: have data safety thanks to new mechanisms, reduce hacking risks thanks to decentralization, and eliminate users or companies’ data theft. And this isn’t even the entire list of advantages you will get by adapting to Web 3.0. But most importantly, you should understand that companies that adapt to Web 3.0 will have a great advantage over their competitors.

Comparison of Web 3.0 vs. Web 2.0

Now let’s discuss the key differences between Web 2.0 and Web 3.0.

Comparison technology of Web 2.0 vs. Web 3.0

Now you fully understand the differences between Web 2.0 and Web 3.0.

Why is blockchain at the core of Web 3.0 technology?

Blockchain fully reflects the idea of Web 3.0. Anyone can create and record information of any kind and content. It is up to them to decide how to use it, where to distribute it, sell it, and how to value it. Cryptocurrency also supports Web 3.0 and will be its main component. The user can earn cryptocurrency online, purchase it, store it, and use it at their discretion.

NFTs, as a particular digital phenomenon of the art of blockchain, are also part of the future Web. This is partly because the creation, sale, and distribution of NFTs is not centralized. It all depends on the owner of a particular NFT and its demand. There are tons of NFTs worldwide, and they are all different.

There are also many NFT marketplaces where people can sell and buy NFTs. They are highly popular, and their current supply isn’t enough for the market demand. By the way, at IdeaSoft, we have already developed a few. Working with an experienced NFT development company can help businesses create custom NFT platforms tailored to market needs and user preferences.

Challenges of Implementing Web3.0 into Business

However, the integration of Web 3.0 technologies into existing business frameworks brings a few challenges, ranging from technological complexities to regulatory uncertainties. Understanding and addressing them is crucial for companies looking to harness the benefits of decentralized technologies. Let’s take a look.

Interoperability Challenges

Achieving seamless interoperability between protocols based on different blockchain networks and legacy systems remains a significant hurdle. Businesses often grapple with integration complexities when adopting decentralized solutions, leading to inefficiencies and potential disruptions.

Regulatory Uncertainties

The regulatory landscape surrounding Web 3.0 technologies is evolving, and businesses may face uncertainties in compliance. Varying regulatory approaches globally pose challenges, particularly in areas such as data privacy, tokenization, and decentralized finance (DeFi), where regulations may not be well-defined.

Yet, we see that many countries are overcoming this challenge and more and more governments are starting to accept crypto assets and give them a status of financial assets or securities, etc. Also, the European Commission has proceeded with the MiCA regulations which will come into force in the mid to end of 2024 and start the great era of cryptocurrency regulatory base in European countries.

Scalability Issues

Blockchain networks, especially public ones, often face scalability issues. As business activities increase on the blockchain, transaction speeds may slow down, and fees can become unpredictable. This scalability challenge may hinder the widespread adoption of decentralized solutions.

Based on our extensive portfolio of projects and more than 7 years of market-related experience, our development team knows perfectly how to address all of those challenges and make your product strive in the blockchain space and in the meantime be adjusted to the latest web3 trends.

Want to develop a project?

Let us help you figure out all the details, and consult you on the one-to-one meeting with our tech specialist! Schedule your consultation

Conclusion

Now you know what are web3 trends and how to address the main challenges this technology can bring. Businesses that have followed Web 3.0 have an advantage over competitors. First, it is getting increased attention from target audiences. Second, it will provide increased data security which will also attract new clients. For businesses aiming to scale quickly and efficiently, IT outstaffing is a powerful solution to access top Web3 talent and reduce development costs.

Third, there are exciting developments in SocialFi, which merge social media and decentralized finance, creating new ways for users to monetize their content and interactions. Fourth, businesses get more precise targeted ads thanks to AI use. As these technologies gain traction, they will undoubtedly contribute even more to the ongoing transformation of traditional industries and pave the way for a more decentralized and inclusive future.

How to Ensure AML&KYC Compliance in Crypto?

The market and interest in cryptocurrencies is growing. But their mass adoption has been hindered by both the lack of regulatory frameworks and the difficulty of complying with them because of the characteristics of blockchain. For example, in some regions legislation allows financial institutions to work with crypto if they ensure AML (anti-money laundering), KYC (know-your-customer), and CTF (counterterrorism financing) solutions are used.

To make this possible, banks and other financial institutions need effective AML and KYC solutions for crypto. In this article, we look at why AML & KYC compliance is important to the industry and how financial institutions can ensure it.

What are the AML regulations for crypto?

AML (Anti Money Laundering) is a set of procedures aimed at combating the legalization of illegally obtained capital. One of the advantages of blockchain technology is the ability to make transfers without proof of identity, which fraudsters are well aware of and try to use to their advantage. Employees of different state ministries, federal agencies, and financiers have come together and created separate structures to implement a counteraction program against money laundering.

KYC (Know Your Customer) is a generally accepted standard of control for user identification and verification. Such a system is designed to protect financial structures legally and allows services to respond to illegal user activity. KYC is designed to spare cryptocurrencies from the attacks and to prevent the possibility of blockchain being used for harm.

There are no organizations or mechanisms in the blockchain to regulate money transfers, so states are trying to implement AML and KYC in banks and exchanges to combat fraudsters. Therefore, AML and KYC solutions for crypto are very important for further industry development.

Read our article: “How to Build a Cryptocurrency Exchange Platform”

Why are AML regulations important for cryptocurrency?

A few years ago, these practices were voluntary and crypto-exchanges were often overlooked by regulators. But in 2020-2021, government agencies began to impose requirements and question companies in this area. Compliance with KYC or AML regulations in crypto is now one of the most important conditions for operations. For some crypto projects, it has become a problem, for others it has not.

If you’re legally working with crypto assets, it may seem that having KYC and AML doesn’t matter to you. But that’s just an illusion. Today, every company dealing with crypto assets is required to have the appropriate licenses, and for all regions of presence. It doesn’t matter where the firm is registered – if it serves Americans, you need to get permits in every state.

It is dangerous to invest funds in an organization that does not comply with regulatory requirements, as its accounts can be blocked at any time. Sanctions and fines can also be imposed on the company. Additionally, when there is a complete lack of regulation, users are left alone with the more experienced players who are not always honest.

At the same time, if the client is left without access to the account (if he or she loses his or her phone with 2FA or if the computer hard drive fails), sufficient information on KYC will allow them to restore access. On exchanges that do not have any customer data, this is not possible.

The implementation of KYC and AML practices requires additional funds and resources, so only law-abiding companies investing in long-term activities decide to implement them. Their implementation is an important element in the development of the crypto industry because it is the basic level of transparency and security that makes cryptocurrencies a mass tool available to everyone. After all, most users want to work legally, invest their money with certain guarantees, and comply with the laws of the country where they live.

Current and future regulations regarding cryptocurrencies

Today, many major market players are registered in the UK, because the legislative framework of this state is transparent and has excellently developed regulatory tools. Additionally, the UK was one of the first countries to introduce legislation on cryptocurrencies. Historically, exchanges that have been operating in the market for a long time are registered in the UK. This country is also great in terms of fintech regulation.

Other top jurisdictions for crypto projects are Malta, USA, Switzerland, and the Netherlands. The legislative frameworks of these countries is considered advanced in the development of taxation and regulation of cryptocurrencies.

You may have heard of the intergovernmental body FATF (Financial Action Task Force on Money Laundering). It was founded in 1989 and now includes 37 countries. FATF has developed a series of recommendations for regulating cryptocurrencies and cryptocurrency operators.

Every three months, FATF updates its list of high-risk countries. This list is determined by the strength of anti-money laundering laws in a particular country. Good cryptocurrency exchanges do not work with users from blacklisted countries and by default, increase the security on their platforms.

The laws of the cryptocurrency industry, like any other, are constantly being updated and need constant monitoring to ensure compliance. Exchanges participating in crypto alliances as well as working with FATF list tracking and interacting with FCA requirements groups are examples and indicators of trustworthiness today.

Any trustworthy exchange that plans to stay afloat for a long time must ensure AML and KYC compliance for crypto on time. However, an important role is also played by the compliance team of the exchange, which works around the clock and manually monitors any suspicious transactions. The compliance team’s task is to identify suspicious transactions. Detection is usually followed by a block to prevent any fraudulent activities on the platform.

Having an experienced AML Compliance Officer on staff is a necessity. This is a person who has access to all the information and who is responsible for the development, implementation, and maintainance of the AML risk assessment system. This role can be performed by the CEO of the company, but it is also important for the Compliance Officer to have an independent vision of the situation and the company’s work.

Having a financial security monitoring department on a cryptocurrency exchange is an important indicator of a platform’s reliability. Each platform has an individual approach to countering fraud. Often monitoring systems is similar to the scoring systems in banks and allows crypto exchanges to check the quality of every transaction. This allows for the tracking and immediate blocking of stolen funds.

For further reading, check our article about CBDC technology development and how it might address the issues with AML.

AML&KYC solutions for crypto

To meet the basic requirements, banks and other financial institutions need reliable and transparent AML and KYC solutions for crypto to track sources of transfers and monitor transactions. Such solutions also allow financial companies to reduce risk and expand their cryptocurrency operations.

Our IdeaSoft team has developed one such solution – Global Ledger. It is a cross-blockchain protocol that allows for the tracking of tokens and cryptographic transactions. The product is designed to follow FATF guidelines to help financial institutions effectively assess the risks of virtual assets without changing their current AML/CTF processes. Some Global Ledger`s features are:

The ability to detect and counter the latest money laundering technologies, including mixing, smart contracts, NFT fraud, and more.
The performance of extensive due diligence procedures on entities and individual accounts.
Integration with your current AML/CTF processes.

Our team has developed a very promising product that will succeed in the crypto world and help hundreds of businesses counter money laundering.

Final thoughts

Cryptocurrency is quite an attractive way to launder money because of its confidentiality, the difficulty of obtaining funds, and an unformed legal framework. Criminals often use it to launder large sums of money. Consequently, anti-money laundering laws are designed to stop the laundering of illegal funds. Legislative action against money laundering is taken by individual governments and multinational organizations such as FATF.

AML laws require centralized cryptocurrency exchanges to ensure customer safety and that they combat financial crime. Due to the anonymous nature of cryptocurrencies, their regulation relies heavily on monitoring customer behavior and identity. This is why exchanges need AML and KYC solutions for crypto. For example, Binance has such solutions. It and many other crypto exchanges monitor suspicious AML compliance behavior and report it to law enforcement.

The Key Difference Between ICO and IDO

Sufficient funding is one of the main factors of any startup’s success, and fundraising has always been one of the main ways to attract investments. In the world of crypto projects, this process has unexpectedly been transformed. Crypto startups have learned how to get money by pre-selling tokens. That’s how the world learned about crypto funding options like ICOs and later IDOs. In this article, we will talk about the main difference between ICO and IDO and the advantages of each crypto funding model.

What is ICO?

Initial coin offerings (ICOs) used to be the most popular fundraising method in the industry. A crypto start-up seeking funding need only submit a white paper describing how the proposed system would work. Then there would be a token sale in which the coins would become the future functional units of currency. Investors who believe in the project’s potential can purchase a token for fiat funds or cryptocurrencies. This is a bet, as they hope the value of the token will rise when the project comes to market.

The ICO was first launched back in 2013. Then ICO was a fast and cheap way to attract investment and it lacked regulation. Nevertheless, it wasn’t until 2017 that the method became widespread. According to industry reports, ICOs managed to raise a staggering $5.6 billion. The fundraising method peaked around the same time that Bitcoin reached its peak at the time. You can find the biggest ICOs of 2017-2018 below:

EOS – $4.19 billion.
Telegram Open Network – $1.7 billion.
TaTaTu – $575 million.
Dragon Coin – $407 million.
Hyundai DAC – $258 million.
Filecoin – $257 million.
Tezos – $232 million.
Sirin Labs – $157.8 million.
Bancor Network – $153 million.
Polkadot – $145 million.

But while ICOs took several years to gain popularity, the method quickly lost its appeal to the public. In 2018, the numbers were still staggering: 1,253 conducted ICOs received a combined $8 billion from investors. However, the second half of the year saw a significant decline. In 2019, many ICOs struggled to attract investors. According to reporting documents, only 84 projects managed to raise about $350 million, much less than previous funding figures.

The decline in the popularity of ICOs occurred largely due to the influence of attackers who decided to take advantage of the systems. The industry has been plagued by speculation and greed. For example, in 2018, about half of all initial coin offerings were fraudulent, and although certain requirements and rules for ICOs have been introduced, the fundraising method has not been able to recover from the blow it received.

What is IDO

Initial DEX Offering (IDO) is one of the most effective mechanisms for raising investor funds for which the exchange platform is used. The first time such a funding model was implemented was on June 17, 2019. Within one day, 3% of the total number of issued Raven Protocol tokens were sold on the Binance DEX exchange. The price of the altcoin remained unchanged at 0.00005 BNB during the token sale.

Thanks to the high prestige of Binance, the global cryptocurrency community paid attention to the new algorithm for obtaining financial assets from investors. Many projects decided to raise funds for product development through the initial decentralized offering. According to CoinMarletCap, as of June 2021, this type of token sale accounted for 60% of the total number of options.

Here are the main advantages of IDO:

Quick listing. Token holders usually don’t have to wait long for the coins to start trading on the exchange. The listing happens as soon as the crypto’s IDO ends.
Availability. A simplified vetting process has allowed many more startups to raise the money they need.
Transparency. This point is not unique in the cryptocurrency environment, but it is still convenient to be able to check token contracts and adjust your plans.

Formally, any DEX user can conduct an IDO. You just need to activate a special contract, register a new token and provide the pool with liquidity. To avoid poor IDOs, platforms select projects. Selected projects end up on launchpad platforms where crypto startups can raise capital. At Polkastarter, for example, the application process is overseen by the Polkastarter team and the Polkastarter supervisory board, which includes members of Huobi, Polygon, Alchemy, and other investors and entrepreneurs.

Most IDOs run on Uniswap, and therefore on Ethereum. But at the same time the use of other blockchains, including Solana, Polkadot, and Binance Smart Chain (BSC), is growing. Launching projects on them can help reduce network fees significantly while in some cases Ethereum’s can be too high. Therefore, more and more projects are conducting IDO on several platforms simultaneously.

The first IDO took place in June 2019, when the Raven protocol held a token sale through Binance DEX, raising over $500,000 and selling 3% of the total coins. In April 2020, the IDO of the decentralized financial contract platform UMA Protocol took place. With initial estimates of $535,000, the project is now capitalized at over $1.28 billion.

Other major IDOs include Compound, bZx Protocol, mStable, SushiSwap, Shift, ExeedMe. It is difficult to name the exact amount of money raised because the assets were instantly resold and grew in value. The coins of these projects grew tenfold after the token sale. So, how IDO is different from ICO?

Differences between ICO & IDO

IDOs have several vital advantages over ICOs, beyond the principle of decentralization. So here are three major advantages of IDO:

Marketing efforts are shared by the platform and project rather than generated by an individual project.
IDOs are more stable because investors don’t get all the tokens at once. This is because of the reduced size of the sale.
Placement of tokens on DEX occurs immediately after the sale.

IDO provides fast trading, uninterrupted liquidity, and most importantly lower listing costs with no restrictions for users. IDOs are both open and more transparent and are a better way to launch a new crypto project than the ICO models used previously.

Characteristics	ICO	IDO
Fundraising	Crowdfunding by issuing utility token/coin through blockchain platforms.	Crowdfunding by issuing and selling via DEX.
Marketing&Advertising	Project teams take care of all the advertising and marketing.	The team behind the project and DEX do the marketing and advertising.
Trading&Liquidity	The issuer is responsible for the transferring token. Immediate liquidity after launching in CEX.	Immediate liquidity and trading on any DEX. Providing an exchange with an unlimited token stack.
Trust	There are trust issues due to some tokens. issuers providing misleading information.	There are trust issues due to no KYC. integration and no control mechanism.
Security	Highly insecure as transactions happen on ICO project platforms which could lack proper security measures.	No risk of identity and information theft. Anonymous and highly secure transaction.
Fees	There is no fee due to no intermediaries. Exchange fee after launching in CEX.	No exchange fee. Only payment gas for the provision of smart contracts.
Regulation	Partially regulated (depends on the region)	Unregulated

IDOs, unlike ICOs, have small market capitalization after a public offering. This is due to the vesting period for any private investors and the small number of tokens. On the other hand, the advantage of IDO is that the token is immediately listed on a decentralized platform where the offering occurred.

What the future holds for IDO

Liquidity pool-based platforms such as Uniswap are becoming more preferred for raising funding and distributing DeFi tokens. IDOs are gaining popularity and may become the new industry standard. Right now, DeFi projects raise funds mostly through IDOs. But that doesn’t mean that projects from other areas of the crypto sector will not use this funding model. Nevertheless, it is unlikely that IDO will completely replace ICO and IEO.

So, for DeFi projects, IDO is the #1 mechanism for attracting investment but for other crypto projects it may not provide the same benefits. However, as long as the decentralized finance market develops, IDO will also be used by crypto projects.

Final thoughts

The difference between ICO and IDO is significant. The Initial Dex Offering has emerged as a solution to the major problems of ICOs. Due to its decentralization, greater accessibility, absence of fees, and additional commissions, the new tokenization model could become a standard in the cryptocurrency market. But this is possible if IDO manages to solve several important problems related to ensuring equal access to the token sale for whales and small investors and protecting against Pump and Dump type schemes.

The IdeaSoft team has vast experience in crypto projects and IDO development. Our blockchain expertise has been acquired through the successful implementation of over 250 projects. Feel free to visit our blockchain services page if you need help with crypto project development. We’ll be happy to become part of your project.

Top 5 Blockchain Development Platforms for 2025

In today’s digital world, different blockchain development platforms offer a variety of tools and features to build secure, scalable solutions. Whether you’re creating decentralized apps, smart contracts, or enterprise-level blockchain systems, understanding the strengths of these platforms is essential for choosing the right one for your project.

In this article, we will provide a quick overview of the top 5 blockchain platforms and explain what to look for when choosing a blockchain for your business.

Our expert blockchain team has all the answers!

Want to start your own DeFi? Need a hand developing your dApp? we got you covered! Just leave us a message and we will get back to you with the solution & presentation of cases we have already done for our clients.

Ethereum

Starting with Ethereum would probably be the right decision as this network is one of the top blockchain to build dapps and hundreds of developers around the world consider it one of the best development platforms for blockchain. Introduced in 2013, Ethereum has exploded in popularity thanks to the support of smart contracts and decentralized applications (dApps) that unleash the full potential of blockchain technology.

The main features: Ethereum is a public open-source platform working on the principle of Proof of Work. It provides engineers with a wide range of tools to build blockchain-based solutions using the Ethereum Virtual Machine environment. Ethereum has its own programming language called Solidity and its cryptocurrency Ether, which is used within the Ethereum network for executing transactions and running apps. According to the Ethereum Price, the market value of one ETH at the end of May 2021 was $2,236 which makes Ether the second most valuable cryptocurrency on the market after Bitcoin.

Strong and weak points: The strengths of Ethereum are its high level of security due to decentralization, very little downtime, versatility and a huge community. Of course, there are weak points as well. For example, slow processing times and higher transaction costs compared to other platforms, as well as scaling issues. However, it’s worth noting that the Ethereum team is working on troubleshooting. For example, in 2021, the platform partnered with Polygon, which aims to create Ethereum-compatible blockchain networks. Also, Ethereum is currently undergoing an update known as Ethereum 2.0, which will operate on the Proof of Stake (PoS) principle to improve security and scalability and make gas calculations more efficient.

Use cases: With the rise of DeFi in 2020 and NFT in 2021, which were directly related to Ethereum, the demand for the network has grown even more. The variety of Ethereum-based projects is impressive. Beyond finance, Ethereum is leveraged for a wide range of applications, including voting systems, secure storage of medical data, gaming, and social networks. Many users choose Ethereum or Binance for DEX due to their robust features and growing ecosystems. With its growing portfolio of successful projects and constant technological advancements, Ethereum is poised to remain one of the most promising blockchain development platforms in the years ahead.

Polkadot

Polkadot is a relatively new but promising blockchain platform created by Gavin Wood, one of the co-founders of Ethereum. Since August 2020, the Polkadot token has risen in price by 1238%, and the platform itself has become a noticeable player in the market.

The main features: Polkadot is a technology designed to create a multi-blockchain network with fully decentralized information exchange. In this environment, developers can create new blockchains, as well as connect existing ones. Polkadot’s unique architecture that includes parachains allows you to take permission data from a private blockchain and use it in a public blockchain. It has every chance of becoming one of the best blockchain development platforms in the coming years as it solves the problems of scalability and interoperability of blockchains.

Strong and weak points: Polkadot provides many benefits to both blockchain developers and users. First, the network enables fast and secure processing and transmission of data between public and private blockchains. The platform is highly scalable and functional. Secondly, it opens up new opportunities for developers of decentralized applications. For example, by providing a single framework for building protocols, Polkadot allows individual blockchains to rely on common security features. Many blockchain experts see Polkadot as a revolutionary solution that makes the concept of a unified blockchain network more realistic than ever.

Since Polkadot is a fairly new project, it has few use cases to fully appreciate the effectiveness of the technology. Some also criticize it for the lack of decentralization through a concentration on its own DOT currency.

Use cases: Polkadot is primarily focused on crypto projects including DeFi and NFTs. In 2020, it partnered with the Chainlink project to attract DeFi app developers. The platform supports the creation of transaction chains, IoT chains, oracle chains, identification chains, data distribution chains, etc. Interest in the platform continues to grow, and we are confident that new promising projects in the Polkadot ecosystem are yet to come.

Solana

Another popular name in the blockchain world and one of the best platforms to build blockchain, according to many developers is Solana. This blockchain is one of the largest in DeFi in terms of the number of blocked funds.

The main features: Solana is quite different from other platforms. This is a first-level blockchain with no sidechains or parachains. The platform is open-source and decentralized. It has its own cryptocurrency called SOL. Solana blockchain nodes are rewarded for processing transactions with SOL, and unlike many other blockchains, it doesn’t have the minimum amount of coins required to create a node. Solana uses a new cryptic mechanism called Proof of History (PoH). It allows for greater scalability and faster transaction processing. According to representatives of the Solana Foundation, the current throughput of Solana is 60,000 transactions per second.

Strong and weak points: Solana’s main advantages are not limited to the speed and cost of transactions. The platform also provides excellent scalability and compatibility between projects. It also offers a pretty good user experience that many decentralized projects lack.

Solana is a fairly young blockchain framework, so it has not yet gained widespread adoption and many projects are yet to come. Many functions work in test mode, which means system crashes are possible. Also, some developers criticize the blockchain for not being decentralized enough. Despite this, Solana has great potential and many advantages over Ethereum, for example.

Use cases: Although Solana has been on the market for a while, a real boom of this technology was seen in 2021 with increased interest in NFTs. Minting NFTs on Solana is cheaper and faster than on Ethereum, so users who appreciate the platform and many projects related to non-fungible tokens chose it for further development. You will also find enough DeFi projects built on Solana, including wallets, DEXs, and stablecoins. According to various data, over 200 companies are currently included in Solana’s ecosystem.

Also, the network continues to evolve. In 2020, the Solana Foundation was created to support the development of the ecosystem. For this, the foundation received 167 million SOL coins from Solana Labs. Also, in October 2020, Solana developers created a cross-chain bridge with Ethereum that allows for the transfer of assets between two blockchains.

Cardano

Cardano has a high degree of fault tolerance, decentralization, excellent transaction speed. These are all great aspects of Cardano. In 2021, the blockchain cryptocurrency called ADA ranked third in terms of market capitalization, behind only the market leaders Bitcoin and Ethereum. With such successes, we cannot fail to include Cardano in the list of the best blockchain development platforms.

The main features: Cardano is an open-source proof of stake blockchain platform. It has a layered architecture and an internal cryptocurrency called ADA. Cardano works on the Proof-of-Stake principle, which is based on the analysis of the amount of cryptocurrency. The platform provides smart contract functionalities. What’s most exciting about Cardano is that it’s highly decentralized. In 2021, the platform reached 100% decentralization, and currently, the network has more than 1500 validator pools.

Strong and weak points: Cardano is powerful and scalable. It provides faster and cheaper transactions than the Ethereum network. Another feature that attracts users is the possibility of passive earnings by staking ADA coins. The platform has a focus on security. The Cardano protocol called Ouroboros has mathematical proof of the persistence of the system even if the nodes temporarily go offline due to a computer failure or power outage, for example. The system is extremely stable thanks in large part to good decentralization.

Cardano is known as an ‘academic blockchain’ because its development is based on a lot of research and tests. On the one hand, this provides more network trust, but on the other hand, it slows down the speed of the platform’s development. Much of the criticism is connected with this since the market is quite competitive and the speed of emergence of improved solutions is crucial here.

Use cases: Cardano is primarily focused on building smart contracts, decentralized applications, and sidechains. The platform also supports NFTs, which propelled it to the top blockchains of 2021. Currently, DEXs, NFT marketplaces, stablecoins, lending protocols, and others are being developed using Cardano.

The Cardano team has a clear road map for improving the technology they use. In the near future, the platform is expected to receive a number of updates that can make it an even more attractive solution for the development of blockchain projects.

How to choose a blockchain platform for your business

Now that we have discussed the list of different blockchain development platforms, let’s move on to the question of how to choose the right technology solution for your business. When choosing a blockchain for your project, you should pay attention to those factors that are important to you and meet your business needs. These factors can include:

Confidentiality level. If your company has strict security and privacy requirements and you want to build an enterprise blockchain, you need to consider private platforms such as Hyperledger Fabric. If the goal of your business is to create an open project with a high level of transparency, choose among the public networks.
Security. Security always matters. Different blockchains have different mechanisms to ensure the secure storage and transmission of data.
Decentralization. More and more users and businesses are discovering the benefits of decentralized solutions. Decide what level of decentralization your project needs and what platform can provide this.
Transaction speed and cost. These factors are decisive for many users when choosing blockchain applications. If you decide to work with a platform with a high gas fee, your development team will need to think about how to optimize it.
Scalability. It all depends on your business plans and the expected load on the system. Make sure the platform you choose can handle a growing amount of work while delivering strong performance.
Adoption rate. Last but not least, when choosing a blockchain development framework. The more popular a platform is, the more likely it is to attract more users with less effort. If this is your goal, study the popularity of different platforms in the market and how successful they are.

Also, we advise you to always consult with experts who will be able to assess your requirements and suggest the best solution. By working with different frameworks, experienced blockchain developers can easily determine which platform is most likely to meet your needs.

Final thoughts

The blockchain market is evolving at an incredible rate. In addition to constantly updating existing solutions, new and more advanced ones are constantly appearing. When choosing a blockchain development platform for your business, you should pay attention to both the functionality of the blockchain and its history on the market because, with proven solutions, there are always more opportunities to achieve success.

Also, to successfully launch a crypto project, you need not only to choose the right framework but also to find the right development team capable of unleashing the full potential of the technology.

IdeaSoft has been offering blockchain development services for clients around the world for over 5 years. Our team works with major blockchain frameworks and is a partner of Skale, an Ethereum-compatible network for building powerful dApps.

The company’s portfolio includes more than 250 successfully implemented projects, including DeFi wallets, NFT marketplaces, DeFi aggregators, lending/borrowing platforms, identity management solutions, and crypto exchanges. Additionally, we specialize in DePIN platform development, ensuring that your business leverages decentralized physical infrastructure networks for enhanced scalability and resilience.

Feel free to contact us to discuss your next blockchain-based project. We would be happy to be a part of it!

DeFi Yield Farming Development Basics

One of the most widely used ways of investing in DeFi is yield farming services. It is useful both for users who earn rewards and for DeFi platforms that maintain their liquidity. Not surprisingly, many people are interested in DeFi yield farming platform development. This article will tell you what you need for successful yield farming development and how to prepare if you decide to set up a DeFi yield farming protocol.

What is yield farming and how does it work?

Yield Farming is a new way for cryptocurrency owners to earn passive income. If you have tokens, you can lend them on DeFi-platforms and get even more tokens back. So how do so-called “yield farmers” make money?

Any DeFi-platform where “farmers” can earn must get as many tokens as possible to ensure their quick exchange, i.e. high liquidity. To do this, cryptocurrency owners or “farmers” place their funds on the exchange and freeze them, thus forming a liquidity pool. A pool is a collection of funds locked in a smart contract. Token holders become liquidity providers, for which they receive a commission in the form of tokens. The process that is described below is yield farming.

With yield farming, liquidity providers provide a way to exchange funds that allows other users to borrow and sell. For this, they pay a commission to the exchange or platform, from which the “farmers” are remunerated. All tokens are placed on the exchange using smart contracts.

Yield farming can bring much more profit than investing in a deposit. However, there are some risks associated with the high volatility of the cryptocurrencies themselves. There is also the risk that a smart contract may contain an error that could lead to a loss of not only profits but also of all investments. That’s why when developing a DeFi product you shouldn’t forget about smart contract audits.

Yield farming is often confused with staking and liquidity mining. So let`s discuss the differences between staking and yield farming as well as liquidity mining.

What is the difference between yield farm, liquidity mining, and staking?

Staking is the process by which blockchains based on the Proof-of-Stake (PoS) algorithm work. Stakers are users who self-configure a node and join a PoS network to support the blockchain’s operation as a node validator. The main purpose of staking is not only to ensure the liquidity of the platform but also to ensure the security of the blockchain network. The more users bet, the more decentralized the blockchain is, and therefore it’s harder to attack. However, when it comes to DeFi staking, yield farming can be considered one of its varieties.

Liquidity mining is a mechanism that helps maintain balance in the market. DEX rewards users who contribute their assets to a common pool of liquidity which increases the liquidity of the exchange. In some ways, it is similar to yield farming, but with more processes going on. In most cases, liquidity mining is popular among liquidity providers who funnel their funds into different liquidity pools.

It’s clear that the lines between these types of yield farming platforms are very thin. Their goal is to earn interest by providing assets to different protocols and platforms.

DeFi yield farming platform development

There are different platforms and protocols on the market that allow users to generate passive income from their crypto assets. Moreover, they have different yield farming strategies and features. The complexity and speed of yield farming development depend on the number of features. So before getting into the details of the development process let’s first take a look at some examples of yield farming platforms.

Types of yield farming platforms

These are 3 of the best yield farming platforms: Compound, MakerDAO, and Aave. Let`s talk about them.

Compound is an algorithmic loan and lending platform. Any user with an Ethereum wallet can lend their funds to Compound’s liquidity pool and start receiving income instantly after a deposit. Rates are algorithmically calculated based on the supply/demand ratio.
MakerDAO is a decentralized lending platform that supports the issuing of DAI tokens on bail ETH, BAT, USDC, WBTC. DAI is a stablecoin whose exchange rate is pegged 1:1 to the U.S. dollar. Yield farmers often use issued DAI to implement their investing strategies.
Aave is a decentralized loan and credit protocol that is very actively used by yield farmers. The lending party (liquidity providers) receives aToken’s in return for their funds. These tokens immediately start generating income when issued.

Decentralized finance, and in particular yield farming protocols, are a breakthrough in finance, cryptocurrency economics, and computer science technology. So how is a DeFi yield farming platform developed?

The process of DeFi yield farming platform development

The DeFi yield farming development is similar to creating any other DeFi product. The yield farming development process consists of 5 stages: discovery, design, development, testing, and the launching phases. Now let`s discuss them in more detail.

The discovery phase helps define the goals and objectives of the project, makes a list of features and selects a technology stack for its implementation. Business analysts work with the client in this phase to help build a bridge between the business part of the project and the technical solution. We advise you not skip this stage, as it allows you to reduce the risks of the project, optimize the budget, and speed up the time to market.
The design phase is no less important than any other phase. One of the main drawbacks of DeFi products often is a poorly designed user interface. It is better to enlist the support of experienced designers who can help you not only to create an attractive interface, but also to find the best ways to present the benefits of your platform.
The development phase starts after you have an idea of exactly how your platform should work, what mechanisms of rewarding users should be used, and what features should be implemented. The foundation of any DeFi product is self-executing smart contracts. Creating such contracts requires deep blockchain expertise because they must work as intended and also be devoid of vulnerabilities. DeFi protocols are one of the favorite targets for hacker attacks, so you should take the security of your smart contracts seriously.
Testing and launching are inseparable processes. Before launch, it is mandatory to check your product for bugs. DeFi testing should include not only functionality and usability testing but also security testing. One of the best practices is to audit smart contracts before releasing the protocol to the market. Smart contract auditing is a process that scrutinizes a piece of code to identify bugs, vulnerabilities, and risks. It is often conducted before the code is deployed and used on the main network because then it is no longer subject to change.

This is how the DeFi yield farming development process works. If you are looking for a DeFi yield farming development company, you are in the right place. Our experienced development team can help you develop an innovative DeFi project.

IdeaSoft expertise

The DeFi sector has been getting more and more attention lately. After Compound gave away COMP management tokens and some of their holders claimed annual returns of 100%, the community became obsessed with DeFi yield farming. That’s why it’s better than ever to think about your yield farming development.
As a DeFi yield farming development company IdeaSoft has been providing blockchain development services for more than 5 years. The in-house development team has extensive expertise in building crypto exchanges, crypto wallets, cross chain DeFi platform, DeFi aggregators, lending/borrowing protocols, staking and yield farming platforms, and more. IdeaSoft has repeatedly been named among the TOP blockchain development companies according to Techreviewer, Upvotes, DesignRush and Clutch. Feel free to contact us to discuss your next project.

How to Use Polygon (MATIC) in DeFi

Currently, decentralized finance is inextricably linked with Ethereum. It is this network that has become the main environment for the development of DeFi, which has changed the viewpoint of millions on the management of crypto assets. But even Ethereum has limitations and needs solutions relating to scalability and efficiency issues. This is where Polygon comes into play. In this article, we will explain what Polygon (MATIC) is and how to use it in DeFi.

What is Polygon and how does it work?

You may not have heard of Polygon but you may have heard of the Matic Network, which hit the market in 2017. The Matic Network was designed to solve blockchain scalability issues thanks to Layer2 solutions and sidechains. Layer2 solutions are deployed on top of underlying blockchains and can handle significant transaction volumes, reducing the load on the basic network. Sidechains allow digital assets on one blockchain to be used securely on another blockchain. All of this ensures network scalability through interaction with other blockchains and helps to lower transaction costs.

In February 2021, the team announced that the Matic Network was becoming Polygon, Ethereum’s Internet of Blockchains. So what is Polygon now?

Basically, Polygon is a framework for building and interoperating Ethereum-compatible blockchain networks. While Matic was just a scaling solution, Polygon is a full-fledged multi-chain system for collaborative blockchains that retain their independence. Polygon has several solutions, the centerpiece of which is the Polygon SDK. It allows developers to easily and quickly create decentralized applications, eliminating Ethereum’s limitations such as network congestion, low throughput, poor UX, and high gas fees.

How does Polygon work?

Now let’s discuss how Polygon works. It has a four-layer architecture and supports two main flavors of Ethereum-compatible systems: stand-alone chains and secured networks. Stand-alone networks provide their own protection and are more flexible, while secured ones depend on Ethereum which makes them more reliable but less adaptable. With the availability of such options everyone can choose what meets their needs.

Coming back to Polygon architecture. The first layer is responsible for the communication between Ethereum and the various Polygon chains. The second one is a security level that manages a set of validators responsible for the security and verification of blockchains. These two levels are optional unlike the next two.

The Polygon Networks Layer consists of blockchain networks built on top of Polygon that govern block production and consensus between networks. The last level consists of the runtime environment (EVM) and Ethereum smart contracts, which are required to execute transactions.

Polygon also has its own ERC-20 token of the same name, which is used for any operations within the protocol. You need it to pay for gas, provide security, as well as trade and convert them to other tokens. This is how it works.

Why Polygon is growing

Before we get into how to use Polygon in DeFi, let’s find out why there is so much talk about this framework today and what makes it special. Much of the interest in Polygon is driven by the growing demand for decentralized finance and Ethereum’s inability to fully meet these needs. The fact is that Ethereum can process a limited number of transactions simultaneously. The high load on the network requires its scalability, otherwise this leads to delays in the decentralized network and high transaction costs. Polygon came about in order to solve the problem of slow and expensive transactions thanks to sidechains. They allow you to combine a larger number of transactions on several blockchains that fit into one block.

Today Polygon is a unique protocol in the blockchain market providing a variety of different scaling mechanisms. Developers have never found it so easy to create Ethereum-compatible blockchains and connect them to the Ethereum network as with this framework. Polygon reveals a reality where different blockchains will no longer operate as closed communities but instead can be part of a single interconnected ecosystem, which opens up many more opportunities for users.

Polygon also solves another Ethereum problem of poor user experience. Polygon developers have provided a more well-structured interface for interacting with decentralized applications. With Polygon, you can do everything that you can do with Ethereum, but in a more convenient way. The framework’s architecture allows developers to choose the scaling solution that best meets their goals and needs.

It cannot be denied that Polygon is growing in popularity. Such well-known DeFi projects as Aave, 1inch, Curve, and SushiSwap have already started cooperating with Polygon and have partially or completely migrated to the platform. So here we are gradually moving on to the question of how to use Polygon in DeFi.

How to use Polygon in DeFi

As mentioned, many DeFi projects have decided to migrate to the Polygon network. Thus, they provide their users with cheaper and faster transactions which allows them to attract more users to their platforms.

For example, the Aave lending/borrowing protocol was one of the first big projects to announce the move to the Polygon network. Thanks to this, Aave was able to reduce gas fees and conduct transactions more than 10,000 times cheaper than on Ethereum. The result was not long in coming. According to DappRadar, in May 2021 alone, Aave recorded a daily average transaction volume of $6.75 billion on Polygon, compared to $2.48 billion for Aave on Ethereum.

Another major player in the DeFi market SushiSwap has managed to raise $620 million in liquidity in the two weeks after the launch of the project on Polygon. Users can use SushiSwap to trade tokens and provide liquidity at a significantly lower cost. These are not isolated cases, more and more DeFi protocols prefer integration with Polygon. For example, leading NFT marketplace OpenSea also supports Polygon, which has enabled them to achieve near-zero transaction costs.

The convenience of deploying decentralized applications in the Polygon network is that if you are a developer who knows how to create apps for Ethereum, then you can easily work with Polygon. It supports a toolkit well known to Ethereum developers, such as Truffle, Remix, and Web3js. To create a dApp, developers need to install a Metamask Wallet or Arkane Wallet, deploy contracts using one of the frameworks, and join the network using a Polygon getaway. If you want to migrate an existing protocol to Polygon, you just need to deploy your smart contracts in the Polygon chain.

As a DeFi user, you can also easily switch to Polygon. You will find tons of tutorials on how to get started with this network on the Internet. In a nutshell, you will need to set up a network in your wallet and then use one of the bridges to transfer funds from the Ethereum to the Polygon blockchain.

Wrapping up

Polygon is an innovative solution for scalability and interoperating blockchains that makes DeFi even more accessible. Lower gas fees, higher transaction speeds and an improved user experience are the main, but not all of the advantages of Polygon. Full compatibility with Ethereum, the main development environment for decentralized finance, automatically brings it to the top of all DeFi solutions. More and more users and platform creators are focused on how to use Polygon in DeFi, which increases interest in the framework all over the world. In particular, many developers are exploring how to develop cross-chain DeFi solutions using Polygon’s capabilities.

If you are faced with the task of creating an effective decentralized application or migrating an existing dApp, our company will be happy to help you. IdeaSoft has been providing a full cycle of blockchain development services for over 5 years. During this time our team has implemented over 250 projects including crypto exchanges, NFT marketplaces, lending/borrowing platforms, DeFi aggregators, and more. Whether you need a DeFi solution or a socialfi platform, IdeaSoft has an in-house team of skilled developers, UX/UI designers, testers, business analysts, and project managers, IdeaSoft is always ready to provide the best solution to meet the business needs of our clients. Feel free to check out IdeaSoft blockchain development services and contact us.

DeFi Staking Platform Development Process

Decentralized finance has opened up a host of new opportunities for members of the crypto community, including the chance to earn passive income through DeFi staking.

If you’ve also decided to take advantage of this model and are thinking about DeFi staking platform development, you’re on the right IdeaSoft blog page. In this article we will explain how DeFi staking works and more about the process of developing decentralized platforms that support this feature and what that looks like.

What is DeFi staking?

Many users of centralized staking platforms have taken the opportunity to learn what DeFi staking is and how it works, and for good reason. DeFi staking is an additional way to generate income from your crypto assets by leveraging the benefits of decentralized finance.

Many developers are now aiming to develop cross-chain DeFi staking solutions, enhancing interoperability and expanding opportunities for users.

The concept of staking in a centralized and decentralized environment can be different. Before DeFi came along, staking was understood as the process of confirming transactions and generating new blocks on the blockchain and getting rewarded for doing so. DeFi staking usually works another way. You deposit your crypto assets to a DeFi protocol and receive a share of the commission from the operations performed on the platform as a reward. Thus, the DeFi protocol maintains its liquidity, and liquidity providers receive interest. You may have heard of liquidity mining or yield farming, which are basically a form of DeFi staking.

DeFi staking provides all the benefits of decentralization, such as greater transparency, fewer intermediaries, lower transaction costs, and more. Also, this method of passive earning is considered safer than traditional investments since the DeFi system is managed by self-executing smart contracts and empowered with blockchain. Additionally, utilizing a cross chain DeFi platform can enhance your staking opportunities by allowing you to leverage assets and liquidity across multiple blockchain networks.

Types of DeFi staking platforms

Since the concept of DeFi staking is fairly new, staking mechanisms differ from platform to platform. As of today, we can identify three main types of DeFi staking platforms.

Stablecoin-based DeFi Staking platforms

Such platforms have their own stablecoins, which are assets more resistant to volatility than conventional cryptocurrencies. Liquidity providers or yield farmers stake these stablecoins against crypto assets and then other users can borrow them by paying a commission to the platform. Part of this commission goes to the stakers. Compound and Aave are examples of this type of platform.

Synthetic tokens staking platforms

Some platforms such as Synthetics, allow the issuance of so-called synthetic assets that are not related to the blockchain (like gold, silver, fiat money). The platform generates a token representing a real asset and makes it available to the crypto market. Users can also place these assets in liquidity pools and receive interest.

DeFi staking aggregators

These are in fact ordinary DeFi aggregators that provide information about several liquidity pools and protocols in a single interface. They help users more intelligently allocate their assets in order to get the maximum return on investment. Zapper and Zerion are the most famous examples of DeFi aggregators.

Why invest in DeFi staking platform development

Now that we’ve discussed how DeFi staking benefits users, let’s go back to why entrepreneurs are investing in DeFi staking platform development.

So, first of all, this is a great way to attract users to your platform. The more favorable reward conditions you offer, the more likely users will contribute their assets to your platform’s liquidity pools. Hence, the more liquidity a platform provides, the more reliable it looks in the eyes of users.

Secondly, by providing staking opportunities, your platform will be able to earn more on transaction fees as there will be more transactions. That is why many lending/borrowing platforms and crypto exchanges are introducing liquidity mining and yield farming mechanisms. For businesses looking to build such platforms, crypto exchange development services can ensure a robust and secure infrastructure to support liquidity mining, yield farming, and staking functionalities.

DeFi staking platform features

The choice of features for your platform largely depends on what staking model you have chosen, what kind of opportunities you want to provide to users, and whether you plan to implement staking as a feature of a decentralized exchange or wallet or as a separate Staking-as-a-Service platform. The list below is basic. This is what you should pay attention to when choosing features for DeFi staking platform development.

User-friendly interface

Poor user experience is probably the number one problem for most DeFi platforms. Your task as a creator is to provide users with a user-friendly interface that will make it easy to navigate the site. This applies not only to the look and feel of your DeFi staking platform but also to the interface logic, information that it carries to users, and much more.

From the sign-up process to choosing assets for staking and liquidity pools, everything should be clear and should not cause complications. All relevant information should be displayed in a structured form on a dashboard. The more useful the data is that you provide to your users, the easier it will be for them to make a staking decision. For example, Aave shows a lot of chart information, including market size, total borrowing and annual interest paid on asset deposits and borrowing.

Also, one of the best ways to improve the user experience is to open up customization opportunities for users. For example, you can allow them to choose a theme for the interface or elements displayed on the dashboard.

List of supported assets and asset protection

Before embarking on DeFi staking platform development, you need to decide what assets your platform should support and what third-party protocols should integrate with.

Also, don’t forget about security. Users must be sure that the risks are minimal and they will not lose their funds due to platform vulnerabilities. The fact is that DeFi platforms are not regulated, so no one will provide refunds to users if funds are lost. Therefore, when choosing a platform for staking, security is one of the decisive factors.

First of all, you need to pay special attention to the security of wallets and smart contracts. Vulnerabilities and bugs in smart contracts are some of the most common reasons for the loss of funds on DeFi platforms. Many startups try to save money by developing software with a small team that cannot fully provide high-quality services. Building smart contracts requires deep blockchain expertise and vast experience, and since smart contracts are the protocol engine in which all the logic of work is laid, it is better to enlist the support of a skilled blockchain development team. Also, don’t forget about smart contract audits, which must be carried out by third-party developers.

Rewards calculator

The main goal of liquidity providers and investors is to make a profit, so they will probably want to know how profitable it is to use your DeFi staking platform. You need to consider the way rewards will be calculated. Some platforms have a fixed percentage, while others calculate rewards based on different market conditions.

Usually, the following factors are taken into account when calculating rewards:

The share of coins staked by the staker and the share of coins in the network.
The inflation rate.
The duration of staking.

The methods for calculating rewards differ from platform to platform. The main thing is to offer users conditions that will allow you to stand out favorably from your competitors. Also, you can embed a reward calculator into the user interface so that staking users can immediately see how much compensation they will receive.

Payouts

Payouts are another important issue that users will be interested in. Define an interest payout schedule and withdrawal procedure so that platform users have a full picture of when and how they can receive their rewards, and make sure developers have clear requirements for creating algorithms. Also, don’t forget to add a transaction history report to the interface to help users track their activity.

DeFi staking platform development process

The DeFi staking platform development process fits into the standard software creation process and consists of the following stages:

Discovery phase. This is the first step in creating any product. Here is where items are defined and clarified such as: the goals of the project, the target audience, competitors, functional and non-functional requirements, and much more. Also, the discovery phase ensures that a customer and a development team have a common vision of the project.

UX/UI design. To ensure a high-quality user interface and create a unique UX/UI design, you need the help of experienced professionals who have worked with DeFi platforms before. We have already mentioned how important platform UX is and that this is one of the main weaknesses of decentralized apps. Take the time to create simple and straightforward navigation to help users quickly and easily perform the desired actions.

Smart contracts protocol development. Smart contract creation is one of the most difficult steps in the DeFi staking platform development process. This is where all the logic behind how your platform functions is laid out. Weak architecture and bugs in smart contracts automatically reduce the reliability of any DeFi product. Make sure you are working with skilled blockchain developers who will provide a high level of coding.

DeFi integrations. DeFi protocols are relatively easy to integrate with each other, however, developers need to be sure that they are compatible and the integrations will not compromise security.

Front-End development. When the logic of the platform is created, developers begin to implement the user interface design using the frameworks that are most suitable for the project requirements.
Testing and launching. Before releasing a product on the market, QA specialists carry out all the necessary tests to make sure that the app works as intended, is free from security vulnerabilities, and meets performance requirements. It is also good practice to conduct a smart contract audit, which should be carried out by third-party developers. During the audit, specialists check the code, identify weaknesses and optimize the protocol.

Wrapping up

There is no doubt that DeFi staking is gaining popularity with the growing interest in the decentralized finance market, and we are still far from the peak. The emergence of new staking models and improved staking platforms allows this type of passive earning on crypto assets to attract more and more investors. Not surprisingly, DeFi staking platform development is booming.

The IdeaSoft team will be happy to assist you in developing your DeFi product. Our engineers have experience in creating DEXs, NFT development solutions, lending/borrowing protocols, DeFi aggregators, staking platforms, and other blockchain-based software. The company’s portfolio includes over 250 successful projects. One of the main advantages of working with IdeaSoft is that we provide a full range of software development services: from business analysis, design to programming, testing, and support.

Feel free to contact us for more information or to discuss your project. We can’t wait to hear your business ideas.

What is Polkadot: Beginner’s Guide

Have you noticed that the mention of Polkadot is increasingly common in the blockchain community? That’s not surprising. As a technology designed to increase the interoperability of different blockchains, Polkadot opens up new opportunities for blockchain developers. We decided to explore this technology in detail and share our findings with you on what Polkadot is and what the features of Polkadot development are.

What is Polkadot

As mentioned, Polkadot is a technology designed to increase the interoperability of different blockchains and connect them into a single multi-blockchain network. Polkadot provides a platform within which new blockchains can be created as well as existing blockchains connected. It allows blockchain systems to process and transfer data quickly and securely while avoiding system-wide updates or hard forks.

The ultimate goal of Polkadot is to create a kind of framework for all blockchains similar to the HTML markup that allows websites, different browsers and servers to communicate with each other. This means that the Polkadot team is willing to take on all the “dirty” work, including the mining processes, and allow developers to focus on creating decentralized applications and smart contract functionality.

The main reason for Polkadot’s development was the inability of Ethereum to scale. This is why such projects as Polkadot and Polygon appeared. Polkadot is scalable and can transfer data both across public and private blockchains by combining them. The Polkadot network includes the following components:

Relay Chain – the core of communication between shards that provides security.
Parachains – autonomous blockchains that operate based on the Relay Chain.
Parathreads – blockchains that are leased to users.
Bridge Chain – bridges that connect and combine blockchains.

Polkadot allows you to create applications that take permission data from a private blockchain and use it in a public blockchain. For example, a private blockchain of a school’s academic records can send a confirmation to a smart contract to verify a degree in the public blockchain.

The development of Polkadot was done by Ethereum co-founder and CTO Gavin Wood, Web3 Foundation CTO Peter Czaban, and blockchain technology researcher and developer Robert Habermeyer.

How does Polkadot work?

Polkadot wants to be the foundation from which all other blockchains will grow. The team sincerely believes in the need to create a common ground for decentralized projects. The Polkadot network functions as three separate elements that allow it to address both interoperability and scalability:

Polkadot does not provide a single blockchain that works with different applications. Instead, Polkadot provides the relay chain that acts as a foundation on which parachains with interoperability operate.
Multiple parachains are placed on top of the relay chain. They are described as dynamic data structures placed in parallel with each other. Parachains are independent blockchains that collect and process their own transactions, although they are part of the Polkadot network.
Other blockchains can communicate with the Polkadot network through bridges placed on the parachains. This is relevant when a blockchain must maintain its consensus and finality mechanisms. These are called bridge chains and allow the Polkadot network to connect to Cardano and Free TON blockchains, as well as many others.

Defective Polkadot parachains can be disabled. In cases when a parachain leaves the Polkadot network, it becomes a separate chain and cannot take advantage of the Polkadot unified security system. The Polkadot ecosystem uses the Nominated Proof of Stake (NPoS) protocol to protect it. Four groups of participants are involved in ensuring NPoS protocol:

Nominators. They are essentially DOT holders who use tokens for staking, gaining the right to support a validation candidate. If a validator is selected, nominators who put their DOT tokens in support of the validator, also get a share of the rewards.
Validators. They are responsible for securing the relay chain by utilizing their DOT tokens. They validate transactions that take place on different parachains and verify data coming from collators in the form of blocks, transactions, and messages. Validators are critical to the system because they help it evolve. If a validator behaves appropriately then new tokens are issued to them, but if they do something illegal, the DOTs they supply are confiscated.
Collators. They work with validators. Collators are assigned to maintain a specific parachain. They collect transactions and link them into a block, which is then verified by the validator.
Fishers. They are considered the last layer of security in Polkadot. Their job is to monitor unscrupulous behavior in the network without creating blocks. This is the easiest role in the network, and fishers are rewarded if they detect and report malicious behavior.

Blockchain development with Polkadot

Where to start with development on Polkadot? The blockchain development environment on Polkadot is called Substrate and is considered the easiest and most advanced environment for blockchain creation.

To deploy your own parachain, you can use the Cumulus framework (an extension to Substrate; also created by the Parity team), which makes it easy to build a new blockchain with Polkadot network support.

If you want to hire Polkadot developers, we recommend reading How to hire blockchain developers.

DOT explained

What is a Polkadot token? DOT cryptocurrency is a digital token that the network uses for staking. Staking is the process of earning cryptocurrency as a reward for storing funds in a digital wallet to keep the blockchain running. Stacking involves locking a certain number of tokens for a certain period of time.

Now let’s find out what role the Polkadot internal token plays in Polkadot`s distributed registry model. The coin has three main functions:

Governance. The ecosystem’s internal cryptocurrency gives the owner a voice in making adjustments to the program code. Without the approval of Polkadot coin holders, no major event will occur on the blockchain.
Functionality. DOT tokens are used to make bets and pay rewards to control nodes.
Connectivity. Adding new parachains and removing inactive ones is paid with Polkadot cryptocurrency.

Polkadot does not provide mining of cryptocurrency. The issue of tokens at the start of the project was 10 million DOT, but in August 2020 there was a denomination – the number of coins was increased to 1 billion to facilitate the calculation of transactions. All coins in user wallets were multiplied by 100, resulting in 0.01 DOT turning into 10 DOT. Thus, the number of coins was significantly increased, but the token holders did not suffer or lose anything as a result of inflation.

Why Polkadot is gaining popularity

Polkadot is gaining popularity because the project aims to decentralize the Internet by connecting blockchains and allowing them to interact with each other, allowing the creation of new applications such as decentralized finance (DeFi). Here are some advantages of Polkadot:

The versatility of functionality. Polkadot allows blockchains to transfer not only tokens but also assets (files) of various types.
Access to a variety of blockchains.
The possibility of creating your own blockchain.
Security thanks to staking. In the Polkadot network, independent chains can interact with each other and not worry about their security as it is controlled by the use of staking.

There is no denying the potential that Polkadot has. Thanks to the new architecture that the project offers, the idea of solving scalability and interoperability problems starts to seem more realistic than before. It also shows the future trends of cryptocurrency development in general: in the case of mass adoption, higher transaction speed will be an absolute necessity.

Polkadot solves 3 problems:

Scalability.
No or limited communication and interchanging of data.
Lack of customization.

The Polkadot network is a new project that can help with interoperability and scalability issues in the cryptocurrency industry and that’s why it has been in the spotlight lately.

The future of Polkadot

Polkadot is not the only platform focused on improving scalability, governance, and interaction. Nevertheless, Polkadot is a technology with fast-growing potential, which is ahead of similar projects with fast data transfers. Today, there are more than 450 projects on Polkadot. Of these projects more than 150 are Substrate based and the most popular among them are:

Polkadot
Kusama
DatDot
OceanProtocol
Acala Network

Although Polkadot is relatively young, a large number of companies have already recognized its technology as quite interesting and profitable. Polkadot aims to create a decentralized blockchain network in which each block is autonomous and opens up more opportunities for blockchain startups. Many enthusiasts predict a bright future for Polkadot.

To finish, here are some facts about Polkadot development:

On June 18, 2020, the Polkadot blockchain started to use Nominated Proof-of-Stake (NPoS).
On July 20, 2020, the Web3 Foundation resigned as the administrator of the Polkadot network.
On August 4, 2020, Polkadot developers launched the Rococo test network to implement parachain sharding.

Don’t forget to subscribe to the IdeaSoft blog to stay tuned for the latest technology trends.

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Aptos & Sui Ecosystems: A Snapshot Comparison

Sui Ecosystem: A Complete Overview

How Does Sui Work?

The architecture of Sui Blockchain

Programming Language

Basic Features of the Sui Ecosystem

Possible Drawbacks to Consider

Who Invests in Sui

Aptos Ecosystem: A Complete Overview

How Does Aptos Work?

The architecture of Aptos Blockchain

Programming Languages

Basic Features of the Aptos Ecosystem

Possible Drawbacks to Consider

Who Invests in Aptos

How Do These Blockchains Impact the DeFi Market?

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Wrapping Up

What is Web 3.0?

Top Trends in Blockchain Technology That Are Shaping The Industry

DeFi 2.0

ReFi Solutions

Zero-Knowledge Proofs Revolution

Cross-Chain Operability Unleashed

Account Abstraction and Social Recovery

Tokenization of the Real-World Assets

SocialFi – Bridging Social Media and Finance

Advantages of Web 3.0 technology for businesses

Comparison of Web 3.0 vs. Web 2.0

Why is blockchain at the core of Web 3.0 technology?

Challenges of Implementing Web3.0 into Business

Interoperability Challenges

Regulatory Uncertainties

Scalability Issues

Conclusion

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What are the AML regulations for crypto?

Why are AML regulations important for cryptocurrency?

Current and future regulations regarding cryptocurrencies

AML&KYC solutions for crypto

Final thoughts

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What is ICO?

What is IDO

Differences between ICO & IDO

What the future holds for IDO

Final thoughts

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Ethereum

Polkadot

Solana

Cardano

How to choose a blockchain platform for your business

Final thoughts

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What is yield farming and how does it work?

What is the difference between yield farm, liquidity mining, and staking?

DeFi yield farming platform development

Types of yield farming platforms

The process of DeFi yield farming platform development

IdeaSoft expertise

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What is Polygon and how does it work?

How does Polygon work?

Why Polygon is growing

How to use Polygon in DeFi

Wrapping up

Table of contents:

What is DeFi staking?

Types of DeFi staking platforms

Why invest in DeFi staking platform development