As per the platform’s website, the future of Sifchain is decentralized autonomous organization (DAO), and DAOs require massive capital to self-sustain. Thus, the platform seeks to build cross-chain liquidity, which can be critical to the future of the blockchain industry.

In addition, the Sifchain network is designed to be more performant and have more robust techniques for trading and security. Considering that, Sifchain has been developed using software development kits, i.e., SDK. It's a collection of software tools and programs that developers utilize to create apps for various platforms. As a result, the platform is compatible with various Cosmos Network blockchains, including Akash, Terra, kava, and more.

According to the whitepaper, Sifchain supports cross-chain transactions for Ethereum ERC-20 tokens. In order to offer cross-chain support, Sifchain uses a concept called 'Peggy' to create a pegged token model. This model is influenced by the Cosmos peg zone model. A 'peg zone' is an account-based blockchain that connects Cosmos' zones to other chains such as Bitcoin or Ethereum. Assets may be easily transferred between Sifchain and the external chain using these peg zones.

The functional token for the Sifchain network is represented with the ticker EROWAN. It is the governance token for Sifchain built to enable decentralized governance. In effect, the weight of votes in governance decisions get influenced by the amount of EROWAN held by voting parties. The token also seeks to facilitate swaps between tokens by pairing with each asset to make a liquidity pool.

The name Sifchain is inspired by Sif, the Norse goddess of earth, farming, fertility, family, and marriage. The platform was founded in August 2020 by Jazear Brooks. The token sale for Sifchain was held in February 2021, where it raised around $26 million.

We werken onze SifChain naar EUR valuta in realtime bij. Ontvang de actuele prijs van SifChain op Coinbase.