Introduction: Isolationism: AERGO’s Solution: The Utilization Of Merkle Bridge
Blockchain isolationism is a focal problem that the totality of the cryptocurrency space faces; multi-chain technology enables universal interconnectivity between different projects. Although the usage of digital assets and different blockchains are increasing at a rapid rate, isolationism is still the predominant “law” of blockchains. The exchange of information has become stuck in a “blockchain stagnation” because of the lack of interconnectivity between ecosystems. For example, since Bitcoin and Ethereum have their own isolated ecosystems, consensus model and transaction methods, the smooth transference of information and communication is all but impossible to achieve in an immediate fashion. This creates a problem of convenience and efficiency.
The Merkle Bridge: The Creator Of Convenience
The Merkle Bridge has solved a simple yet imperative function for the expansion of blockchain: that function being interoperability. The Merkle Bridge is a technology that interconnects heterogenous blockchains together. In essence, the technology is designed to enable the exchange of assets and information between inherently different blockchains or platforms; Ethereum to AERGO being an example as such. This is a major stepping stone of interconnectivity between AERGO and the collective totality of ERC-20 tokens and Ethereum itself.
For more details, please refer to the follow article below:
https://medium.com/aergo/aergo-merkle-bridge-what-else-is-needed-for-nft-c5170502da3a
The Great Relationship: GEMpay, A Blockchain Based Simple Payment Service And The Merkle Bridge
GEMpay works with different scalable economies; it is imperative to understand that GEMpay is a simple and easy to utilize blockchain service payment system. The more users that pay with AERGO Gem, the more discounts they receive as well; this is the cornerstone of economic self-interest and practicality. All GEMpay users must first top-up their AERGO Gem to use their points. AERGO Gem has the same value as the KRW, and you will receive an appropriate discount or profit in this functional rewards paradigm built within the GEMpay system based on your participation in the ecosystem. AERGO Gem natively supports swaps through the AERGO token. In addition, plans are put into place to support to enable swaps to Ethereum through the Merkle Bridge, which will enable swaps with various ERC-20 tokens.
For those who’re unfamiliar with Ethereum, ERC-20 is the token standard within the Ethereum ecosystem; every Ethereum based token is an ERC-20 token. In essence, this compatibility with AERGO through the utilization of the Merkle Bridge will enable easy and seamless access for ERC-20 holders to utilize the service platform with Ethereum based tokens of their own choosing.
📊 Token Price Indexes
We would like to request for the patience of those who wish to utilize GEMpay. Discussions with various companies are ongoing to conduct a sufficient POC to create an appropriate index for AERGO Gem prices. It is not easy to create a reliable index in the current cryptocurrency token environment. Whether it is a centralized exchange or a decentralized exchange, since the price value in the virtual currency market depends entirely on the liquidity pool of the active wallet, it is a structure in which the exchange party must bear the risk of the index. This is because it is an environment in which anyone can attack the price whenever they want. Our plan is to open the GEMpay service according to the timeline set forth, starting with the POC and pre-booking openings in March and until the second quarter of 2022.
If You Have Gem, You Garner A Double Discount With GEMpay:
March POC And Advance Reservations Are Open:
📍 The Three Line Summary
- The Merkle Bridge is a technology that enables interoperability between heterogenous blockchains.
- GEMpay works with different economies of scale.
- Discussions are underway with various companies to conduct POC to create an appropriate index for AERGO Gem.