Scaling Bitcoin: DeFiChain PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Scaling Bitcoin: DeFiChain

Time Stamp: September 13, 2022 11:06 AM

September 13, 2022, 11:06AM EDT

• 11 min read

Quick Take

  • DeFiChain is a Bitcoin sidechain that uses a Proof-of-Stake (PoS) consensus model while incorporating certain Proof-of-Work (PoW) elements
  • DeFiChain has over 11,000 masternodes, a good indicator of decentralization, though not all of them are operated by unique individuals
  • DeFiChain has non-Turing complete smart contracts which have been used to program an automated market maker and loan vaults for borrowing
  • Despite the robust development of DeFiChain features, there have been significant challenges to overcome, such as the constant de-pegging of DeFiChain’s native stablecoin, DUSD

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