The Cryptonomist and DeFi Today conducted an interview with Beni Hakak, CEO of LiquidApps to talk about Ethereum scalability, EOS and Reddit’s community point MOON.
The DAPP community recently launched a bridge between the EOS and Ethereum blockchains, what have been the results so far?
We were all very excited to see a cross-chain bridge between Ethereum and EOS come to life for the very first time. The bridge, which you can see in this demo, sets the stage for a whole new world of multi-chain DeFi applications to emerge. Furthermore, the code and infrastructure for the universal bridge were designed in such a way as to allow anyone from the community to set up bridges for their own purposes, and who knows which other chains the community will be connecting next.
The DAPP Network community came together in a remarkable way to make the bridge a reality. 6 notable DAPP Service Providers (DSPs) were involved in setting the code and infrastructure that turned the bridge dream into reality, and the entire community rallied behind them. We have enjoyed reading and participating in some thought-provoking conversations that have sparked up surrounding the novel use-cases that this bridge enables as well as the governance models that could allow for sustainable bridges at scale
How many dApps use your products such as LiquidAccount, vRam and vCPU?
Tens of projects are harnessing DAPP Network services. While some projects may only use a single service, most take advantage of the unique ability to combine several services in a plug-and-play fashion on the DAPP Network. The combination of services can lead to amazing places, such as the cross-chain bridge. LiquidOracles in particular is already a robust component for many applications, and various teams rely on it as their decentralized data provider of choice, including notably Bancor, Equilibrium, Blockstart, Phoenix, and EOSOptions, among others. These projects span across sectors from DeFi to social media, wallet services and content platforms.
We must mention Reddit’s initiative regarding scalability with your solution, do you think they have the wrong blockchain?
Reddit’s willingness to embrace decentralization is an exciting move for the blockchain space, and their scaling challenge was a welcome step in the right direction. It was amazing to see how the DAPP Network community instantly recognized the power that DAPP Network’s cross-chain scaling solution could bring to bear in the case of Reddit. A submission was made for the bounty that utilized DAPP Network services to create a bridge for all kinds of data, not just tokens, and we are currently evaluating it.
As for Reddit’s choice of chain, this is part of an industry-wide dilemma facing large companies and independent developers alike when it comes to choosing which chain to build on. We believe that companies should have a wealth of scalability tools at their disposal, regardless of what blockchain they choose, as well as the ability to transition between chains when the need arises. That is why the DAPP Network’s suite of services are blockchain-agnostic in nature.
How do you feel about the multitude of EOS sister chains, are they all relevant?
The emergence of the DAPP Network’s cross-chain bridge can allow for other chains to utilize EOSIO as their 2nd layer. Many variants of EOSIO-based blockchains are being run by communities and organizations alike and each chain brings its own functionalities and its own advantages. There is room for the great entrepreneurs and communities that are behind these chains to bring their visions to fruition, while enabling better infrastructure for real-world applications. In order to maximize its true scaling potential, EOSIO must realize its vision of interoperability by connecting all these chains into a single, integrated network.
Read the full interview on DeFi Today for free.