In this week’s Wealth Mastery Coin Review, we’ll discuss the following topics about Stargate Finance.
- What is Stargate Finance?
- Stargate Transfers
- Stargate Pools
- Stargate Farming
- What is Stargate used for?
- What is an STG coin?
- How to buy Stargate Finance coins?
- How to buy STG using Binance?
- How to buy STG using Coinbase?
- How to buy STG using FTX?
- Is STG a good investment?
What is Stargate Finance?
Stargate Finance has labeled itself a “community-driven” organization, building blockchain’s first fully composable asset bridge. Stargate is the first protocol to use LayerZero technology, an Omni-chain interoperable protocol. Essentially LayerZero ensures valid transfers by requiring independent Oracles and Relayers to complete the transaction. This allows trustless transactions across any network, with LayerZero acting as the trustless middleman. LayerZero can provide this process to Stargate by relying on independent sources. By creating endpoints on each network, Stargate can operate its own Layer 2 (What are Layer-2’s) protocol on top of each network with an endpoint installed. This allows users to move assets from one Stargate endpoint to another network stargate endpoint without all the wrapping and unwrapping that usually comes with bridging transactions across different networks. Making it possible to send from one network to another in a single transaction as opposed to the multiple transactions required in the standard method of bridging assets across blockchains. While the name Stargate has a nice ring to it. This gate works the same as a bridge, with fewer steps. Stargate Finance has managed to design a tool that transfers a limited number of assets across multiple networks incredibly well.
At the center of blockchain bridge discussions is the bridging trilemma. Similar to the blockchain trilemma trade-off (What is the blockchain trilemma). The bridge trilemma involves sacrificing one variable to strengthen the remaining two. You can have native assets and unified liquidity but not instant finality. Or instant finality and native assets, but without unified liquidity. This has played true for how bridges currently operate in their sacrifices when developing a bridge protocol. Because Stargate utilizes LayerZero as its primary source for bridging transactions, it solves the bridging trilemma trade-off. But, it also introduces a fourth point, meaning that the bridging Trilemma becomes the bridging Quartic discussion with Stargate.
This fourth factor pertains to the lack of security that comes with using one single endpoint to operate all transactions. Instead of relying on multiple sources to validate and update transactions, it relies on a subnetwork within a network to verify the information is accurate. While that subnetwork may rely on independent variables outside of itself. It’s still introducing continued degrees of separation between itself and the network it’s running this endpoint from. This is amazing for making fast, cheap transfers between networks but sacrifices some level of security by relying on its internal system. Oracles are a great example. Oracles are great; there’s no denying that. But, they come with the caveat of trusting a single source indiscriminately for a definitive answer to verify and validate the information.
Stargate Transfers
Stargate transfers are…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
