What is the XRP Gateway (Gateway PWR)?
What is the XRP Gateway? The XRP Gateway is a decentralized application managem
What is the XRP Gateway? The XRP Gateway is a decentralized application management tool. It allows developers to build and deploy their own dApps and transact or access their datasets through its wallet. The principle of the XRP Gateway is similar to RPC services, but they are completely open source and without intermediaries, so they are not affected during the development process.
When users use RPC services, they can start DApps, integrate new DeFi protocols, and create other applications by connecting XRP to the network. For example, MetaMask, Bitkeep, etc., all of which require security audits by security companies. XRP tokens can be used to provide liquidity for smart contracts (instead of collateral), and dApps can also serve as lenders or market makers.
Gateway PWR
According to Coindesk, the Gateway Alliance (PoolTogether) has launched the first Gateway PWR on the Polygon network. The project was jointly initiated by Sergey Nazarov, co-founder of blockchain service provider Chainlink, and Erik Voorhees, the inventor of BitTorrent. It aims to bring scalability to the DeFi ecosystem. Previously, the decentralized exchange PoolTogether was using the “Gateway” protocol on its platform, which was released in version 3 by the Ethereum Foundation.
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