Background
After the great recession of 2007-2008, the release of Bitcoin by Satoshi Nakamoto in 2009 started a revolution against traditional finance. While centralized fiat currencies, banks, hedge funds and more have collapsed due to speculation, blockchain technology has targeted decentralized finance and provided transactions in a transparent economic model. Thus, a transparent universal ledger where transaction information can be collected has been provided.
All transactions on the blockchain are cryptographically secured thanks to a consensus mechanism called Proof of Work (POW). Double spending problems have also been prevented. Thanks to this transition, a fast and definitive solution to the biggest problem in cryptocurrencies was brought. All transactions are secured with a proven proof mechanism based on SHA-256.
Bitcoin Whitepaper:
https://bitcoin.org/bitcoin.pdf
With the whitepaper of Ethereum (ETH) in 2013, a network in smart contracts and Turing-Complete ETH virtual machines (EVM) that allows developers to interact with the network and make transactions through DApps (Decentralized application). proposal was included.
Ethereum whitepaper:
https://github.com/ethereum/wiki/wiki/White-Paper
BNB was released with the ICO launched by Binance in 2017. Therefore, the foundation of the BNB Chain was laid. After the mainnet community launch in April 2019, BNB Chain announced its high speed and large throughput design. Its main focus and native decentralized application (dApp) Binance DEX has proven its low-latency matching with large-capacity headroom by processing millions of transactions in a short period of time. The most requested feature of BNB Chain was programmable expandability or simply Smart Contract and Virtual Machine functions. We met with Web1 at the end of 1980. While we met with Web2 in 2000-2010, the concept of Web3 entered our lives in 2020. Web3 was originally conceived as an idea for a decentralized and public blockchain-based version of the Internet. With the high investments of technology companies and the transition of some companies in the crypto ecosystem, a rapid transition has been achieved.
Web3 started to become widespread as we entered the year 2022 with all this development. Decentralized finance started to be preferred instead of centralized financial systems among cryptocurrencies. While XPRO targets the fundamental principles of the decentralized finance model in Web3, it takes advantage of the fast network and low cost feature in BNB Chain.
BNB Whitepaper:
https://github.com/bnb- chain/whitepaper/blob/master/WHITEPAPER.md
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