Since 2020, the concepts and interpretations of DeFi have been endless. Many projects have also received dividends directly because of the support of the DeFi concept, achieving the goal of “debut is the pinnacle”. However, it is undeniable that the entire DeFi field will be depressing in 2022 after reaching its peak, and the current popularity is obviously less than that of other emerging sectors such as NFT and Metaverse. The overall TVL and the respective Token prices of the projects have shown a trend decline.
Encountering such a situation, many people think that this is the performance of “DeFi can’t work”, but it is not.
When there are peaks, there are valleys, and when there are highs, there are lows. We should regard DeFi’s depression as its rest period. After adjustment, it can still usher in a climax period. Because DeFi itself is irreplaceable and innovative, it is still an indispensable part of the cryptocurrency system, it is also the general direction of new financial research in the future, and its exploration and practice will not be interrupted.
The combination of decentralized finance and blockchain technology can be regarded as an innovation, because it will form a unique and huge new digital economy and accelerate its upgrade under the impetus of the times. At present, the pillars supporting the development of DeFi are stable coins headed by BTC and ETH, and automatic smart contracts. Open DeFi has moved from the DeFi 1.0 stage represented by the original DEX financial ecology to DeFi 2.0 stage where the decentralized financial system is located. At present, people with lofty ideals in the crypto world are now marching into the DeFi 3.0 era. This is the stage that is closest to the essence of blockchain. The focus is on ecological-based value creation, circulation and feedback to help users with their self-worth growth.
Recently, there is an emerging DeFi project worthy of everyone’s attention, that is X METAVERSE PRO (abbreviation: X Meta). This project has frequent market movements and heated discussions in major crypto communities and social platforms. The team revealed other series of functions, products and cooperation are all under active deployment and deserve attention.
The meaning of the X METAVERSE PRO protocol is re-basing, which means elastic supply in the market, here is the meaning behind it.
The advent of Web3.0 has put forward new requirements for the richness, stability and growth of assets. At the same time, the core assets in the market need to have better accessibility, transparency and programmability. From a technical point of view, most encrypted assets have these functions, but from the perspective of asset volatility, the performance of most encrypted assets is not balanced. Take the stablecoin linked to fiat currency as an example, its value and Inflation rate risk also moves with Fed policy. The X METAVERSE PRO (X Meta) protocol introduces stable yields and compound rewards to hedge risks, resist volatility with efficient deflation, and achieve key requirements for a long-running, healthy economy.
What is a non-interactive zero-knowledge proof mechanism (NIZK)?
X META redesigns the blockchain structure and various underlying protocols, making Turing complete smart contracts for privacy protection a reality, not only enabling a wider range of application scenarios to obtain privacy protection measures, but also increasing the difficulty of attacking users’ private data because of its advanced NIZK cryptography algorithm. X META mixes the UTXO and ACCOUNT modes, adopts the UTXO mode in the computing layer of privacy protection, and can mirror the logically equivalent ACCOUNT mode to support the operation of Turing-complete smart contract virtual machines at the same time. X META seamlessly integrates the two modes through transaction, consensus, and Pedersen Commitment algorithms, which enables smart contracts to exert surprising capabilities.
What is the purpose of creating NIZK?
The X META team not only considers the privacy protection measures required by the decentralized application itself, but also plans to provide solutions from the perspective of point-to-point network transmission security and the privacy of the account’s physical network address from the perspective of application landing, which can make strong privacy protection features can also be obtained when interacting with centralized applications or interacting with user clients.
It is worth mentioning that X META is the world’s first blockchain system that truly realizes the privacy protection of Turing-complete smart contracts through non-interactive zero-knowledge proof (NIZK).
Compared with the existing blockchain privacy protection technology, X META can not only realize the privacy protection of account information and transaction information, but also realize the privacy protection of Turing-complete smart contract input and output. More importantly, developers can also issue anonymous digital assets (Tokens) based on smart contracts on X META-Chain, and the communication information with smart contracts will also be protected by privacy and security.
The X META team has set up a three-piece project that can provide complete privacy protection solutions for decentralized applications, including X META (an anonymous blockchain system that supports smart contracts), Alien Protocol (a solution that can solve decentralized networks Information transmission protocol) and the Castro protocol (a protocol that protects the decentralized network and provides privacy protection for each node interacting on the Internet) and other cutting-edge innovative technology components. The three-piece projects will each exert their expertise to maximize benefits. At present, X META has completed the core research and development work, including privacy protection related protocols, and Turing-complete running smart contracts on the chain.In addition, compared with the mainstream anonymous blockchain systems on the market, X META’s support for Turing-complete smart contracts and the privacy protection measures for its related decentralized applications have greatly improved the generalization of its usage scenarios. This is also one of the most core competitive advantages of X METAVERSE RRO.