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TeDefi - the next step in decentralization



What are TeDeFi networks, Tefi tokens and PoSA with telegram nodes?

Blockchain technology is evolving faster than we can tell the differences between CeFi, Defi, CeDefi, TeDefi or their consensus mechanisms like PoW, PoS, DPoS, CaaS, PoSA and other lesser known algorithms. Let's find out what TeDeFi is and why Telegram was chosen as the communication protocol between the user and the blockchain network.

The authoritarian CeFi

In the early days, the only way to buy or sell crypto reliably was through centralized exchanges (CEX), which are some kind of dictatorship. They work, are reasonably stable, and are based on older technology, which means most users will know how to use them. However, CEXs harbor a spectrum of potential problems such as embezzlement, hacks, a lack of transparency, a lack of absolute control over funds and much more. This is particularly problematic as users' digital assets are at stake.

The democratic DeFi

Decentralized finance includes financial applications that run over a decentralized blockchain, eliminating the need for users to trust third parties. Uniswap, MakerDAO, Compound are just a few examples.

Ethereum was the first blockchain with smart contract functionality. It was started with the Proof-of-Work (PoW) consensus protocol, similar to Bitcoin. The PoW data essentially does two things:

They enable computer nodes to secure and guard the platform to agree on the validity of the information published on the Ethereum network and
prevent economic attacks on the network

The PoW algorithm is not perfect, however, and the shortcomings - including slow transaction times and high fees - have become too great to ignore. The rise in decentralized funding is the use case that highlighted the importance of an efficient network.

Proof of Stake (PoS) is another consensus mechanism that has emerged as a cost-effective and energy-saving alternative to the PoW algorithm. The logic behind this is that it makes it easier for owners of larger amounts of the token to mine new blocks. It later evolved into Delegated Proof of Stake (DPoS). Users put coins on a list of elected delegates tasked with creating blocks on the network and following consensus rules. Good examples of such networks are EOS and Tron. The DPoS algorithm can process significantly more transactions per second than the above.

Another algorithm that emerged from the need for more efficient and scalable blockchain networks is Proof of Authority (PoA). It's similar to DPoS, but with Validator nodes that stake their reputation instead of coins, confirming their true identity and proving their trustworthiness. PoA is mainly seen as an effective algorithm for private blockchain due to its high performance and the need for trusted validators.

Binance Smart Chain created a mix of PoA and DPoS and called it Proof of Staked Authority (PoSA) or Parlia. This consensus model can support short block time and low fees and only requires 21 validators to run. Validators take turns producing blocks in PoA fashion, earning a reward, but also having to be re-elected every day by staking out governance in order to continue to be part of the validator set.

The advanced TeDeFi

This algorithm laid the foundation for the TeDeFi blockchain. PoSA does the DeFi industry a great service, but shares the same bottleneck as others. To access and operate the blockchain, for example trading a token on a decentralized exchange or simply checking your balance, the average user has to use a gateway app or, in the case of Binance, access their centralized exchange, which is under regulatory Control is in place and its rules can change at any moment.
To solve this problem, TeDeFi enables the validation nodes to communicate directly with their Telegram Exchange bot and wallet bot via their secure MTProto protocol.
TeDeFi's network has its native token, TEFI, which powers the ecosystem and provides the following features:

  • ExchangeFee Discount 
  • Staking to a Validator Node
  • Gas Fees
  • Governance Authority
  • Validation Node Reward

Currently, the TEFI coin is deployed on the BSC chain and traded through their TeDeFi Telegram platform, with the price being driven by demand and constantly growing, making it a preferred investment for early adopters.

Overall, TeDeFi is an ambitious project dedicated to building a fast, autonomous and secure network without sacrificing decentralization or adding third party software to access the chain.

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