Fidira Redefines Blockchain Scalability with its Multidimensional Project on Polygon
Interactions with cryptocurrency and blockchain are limited to crypto-enthusiasts and computer-savvy people. People who don’t have the time or resources to invest in crypto, on the other hand, are left in the dark.
For cryptocurrency to achieve mass adoption — the process of buying and selling cryptocurrency assets needs to be emendated to make user experiences less tedious.
With fiat currency, paying for goods or services is a simple process. Because hardly any merchants accept payments with cryptocurrency — using crypto for day-to-day transactions is strenuous work.
Introducing Fidira
The first free-for-all fully decentralized project focused on growing cryptocurrency adoption worldwide by providing users access to crypto NFTs.
Fidira has partnered with InComm to provide users with digital and physical gift cards. These cards allow users to easily participate in DeFi lending, borrowing, transactions, and yield generation. Tasks previously considered risky for crypto neophytes.
Users can use their gift cards as point-of-purchase payment options, as a bitcoin gift card, and via InComm to transfer their crypto into fiat-based gift cards.
How Polygon solves crypto’s scalability issues
When building out blockchain and cryptocurrency projects developers, it’s usually only possible to prioritize two out of three options: decentralization, security, scalability.
Most projects tend to focus on the first two because lack of security leads to mistrust, and decentralization is the core of blockchain.
But scalability is equally as important, if not more because lack of scalability creates high barriers of entry that alienates ordinary users, users who are key to global adoption.
Fidira knows to compete with fiat transactions, the platform’s level of transaction scalability needs to match fiat currency.
It’s the main reason why Fidira chose to build on Polygon.
Polygon’s architecture has four layers: an Ethereum layer, a security layer, a network layer, and an execution layer. Polygon relies on Ethereum for security and consensus while leaning on its network and execution layers to handle interoperability between blockchains and handle on-chain and cross-chain smart contracts.
Polygon’s modular system makes it easier for Fidira to evaluate proficiency spreads within the platform’s staking protocol, marketplace, and NFT generation and distribution portal.
Why using the Polygon Network is beneficial for Fidira users?
Building on the Polygon network is advantageous to Fidira’s users not just because of low transaction fees or fast per-second transaction capabilities — it’s beneficial because of its scalability prowess.
Since the Polygon network is a network of interconnected blockchains, Fidira isn’t tied down to just one chain network but to any Ethereum-compatible blockchain, they’d like to plugin.
This extension has allowed Fidira to partner with 100,000 worldwide retailers and advances its reach to new global audiences.
To conclude
Cryptocurrency adoption has been growing ever since BTC was introduced in 2008.
According to research by Statista, the market cap of cryptocurrencies grew from just $18 Billion in 2016 to $2 Trillion in 2021, with over 50 million blockchain wallet users globally.
Governmental adoption and supportive cryptocurrency regulations have played a significant role in this 2x year-over-year growth.
More and more countries are releasing frameworks to govern their cryptocurrency scene. Countries like Japan and South Korea have even published clear and well-defined frameworks to regulate cryptocurrency asset trading as well as taxes.
While these are all steps in the right direction — if cryptocurrency will be real competition for fiat currency, a lot more needs to be done.
Fidira’s unconventional approach to expediting cryptocurrency access is necessary because it removes one of the significant obstacles of crypto adoption — lack of inherent need.
What do you think is Fidira’s solution to what the world needs?
About Fidira
Fidira has developed a safe and straightforward way for anyone to get involved in cryptocurrencies using the Fidira gift card through our global retail distribution network. We have an elaborate feature set supporting the onboarding of vendors and users to our platform. Our services are possible through strategic partnerships with visionary global leaders in the financial industry. Fidira’s market-focused approach simplifies cryptocurrency markets for every budding participant.
Learn more about Fidira and by visiting our social channels:
About SafeLaunch
SafeLaunch is a decentralized venture capital community allowing SFEX token holders to invest in the private, seed, and IDO rounds of exciting early-stage projects, removing barriers that previously made such opportunities off-limits except to a limited number of people and firms.
To find out more about SafeLaunch, please visit our social channels:
