Project Name: Intronet Project Track: Web3 Team Name: MNKTigers Team Member(s): 3, @ninja_penguin and @mahsa.bastan76 HackerEarth Project Link: Project Goal: In this project, a cross-chain asset transfer DApp for VM based blockchains was developed, allowing users to lock their assets on one blockchain (e.g., ETH) and mint an equivalent amount on another (e.g., TRX) by providing valid proof. Project Value: Cross-chain asset transfer offers benefits like increased liquidity, asset diversification, interconnected blockchain ecosystems, scalability, and improved security. The Relay project serves as an interoperability solution, ensuring secure and trustless asset transfers. Its user-friendly interface enhances accessibility, while thorough testing ensures reliability. Project Info:
(WhitePaper.pdf|attachment](upload://iIMxoTfYuVygybAzez0fXrlez4c.pdf) (573.9 KB)
Project Website: GitHub - Mahsa-Bastankhah/Tron Project Test Instructions: GitHub - Mahsa-Bastankhah/Tron Project Details: The project’s components include asset transfer and relay smart contracts, a user-friendly React UI, and a relayer. This initiative expands Tron’s connectivity to various blockchains, enhancing its utility and user base.] Smart Contract links: https://github.com/Mahsa-Bastankhah/Tron/tree/main/src/contracts Project Milestones: Now are smart contracts and our application is designed for the proof of work Ethereum however we will make it compatible with proof of stake Ethereum by 30th Nov 2023
Particularly I am interested in the potential use cases for this DApp in the DeFi space. For example, it could be used to enable cross-chain lending and borrowing, or to facilitate the exchange of assets between different DEXs.
I am also interested in the potential for this DApp to be used to bridge the gap between legacy financial systems and the blockchain world. For example, it could be used to enable users to deposit fiat currency into a smart contract on one blockchain and receive an equivalent amount of cryptocurrency on another blockchain.
With all these i am looking forward to seeing how this project develops in the coming months and years.
Depositing fiat currency into a smart contract is a complex process that involves multiple steps. It is important to understand the risks involved before attempting to deposit fiat currency into a smart contract.
How do you deposit actual fiat currency into a smart contract
I understand how to deposit fiat backed coins aka stable coins in a smart contract. But I don’t understand what you mean by depositing fiat currency into a smart contract.
dont confuse yourself dear, the dollar, cedi and naira you know are fiats and these have nothing to do with smart contracts. Can you deposit naira or send naira notes or coins to tron address… unless there is e-naira minted on blockchain
Welcome to Grand Hackathon Season5
First of all I think your project is best suited for Defi track
Please is this different from bridging an assets, maybe am understanding it wrong
Please I need a little clarification on this
