With each cycle we also get a new blockchain it seems. To put this entire thing into context lets take for instance that it was just Bitcoin at first. But then other blockchains had their moment in each pull run such as Ethereum, Binance, Solana, Sui etc.
Well there seems to be a new one that's just about to enter the world of crypto and it has the potential of being like one of the above. In this article I want to take time to review what this blockchain offers and why it could potentially be another major one.
- This article is for entertainment purposes only and is not financal advice. Do your own research before investing and understand the risks.
The Blockchain...
The blockchain we are going to be talking about today is Unichain which just recently had it's mainnet released. Now this is not to be confused with Uniswap as they are unique systems in themselves. But Unichain is from the people who are behind the defi platform Uniswap again though two separate projects which is very important to note here.
It's also important to note that this isn't a layer 1 blockchain. Instead it's more of a mesh of multiple blockchains but that's kind of the cool thing about it is that it's unique and doing things that should scale blockchain rolling forward which is what we always want to see.
What Is Unichain?
Unichain is a network launched by the creators of UniSwap. It's a layer two blockchain built on top of the Ethereum blockchain but is geared to do a lot more.
Think of it like Coinbase BASE or other layer two solutions which are open sourced for others to develop on top of. This same thing is with Unichain in which it's currently open for others to build on top of it and use it for their own applications.
So sure it sounds like every other blockchain so what's the big deal? Well let's jump into that here next.
The Superchain
This new blockchain is designed to be able to talk to multiple other blockchains at the same time. This is a perfect solution for those trying to swap and make trades on tokens and aligns right with what Uniswap is all about so they will indeed be using their own blockchain for this.
Right now the process with all of these DeFi applications is that you have to connect your wallet, make a trade, then swap networks again and make another swap and so forth in order to get the assets to where you want them. This results in many transactions happening just to move things from one blockchain to the other mainly around what is known as wrapped tokens.
This has also caused a major issue with liquidity in which the liquidity is now spread so thin across hundreds if not thousands of layer two and even layer three options that it's caused some issues especially for liquidity providers for DeFi applications.
The goal of this new Unichain blockchain is to compile it all under one central place allowing for a single token or source to act as the liquidity for all.
Value
The other part of this is that Uniswap is looking (when better regulation comes into play) that token holders would be able to earn fees from the trading that happens on networks like this. Primarily however focused on things like RWAs over just crypto to crypto transactions.
I think the day in which we can take some Ethereum for example or even Hive we earn here and swap that into stocks, bonds and even real estate will be mind blowing cool and epic for the entire world and then it's really stacking season!
The big impact of this is that crypto will no longer be solely speculative. There will actully be value accrual that happens to the token which is a huge missing piece to the pie right now.