Yellow Network Launches Beta Testnet with Incentive Program
Yellow Network, a peer-to-peer Layer3 blockchain infrastructure, has announced the launch of its beta version testnet. The network will also introduce an exclusive incentive program for testers. Yellow aims to address the challenges of digital asset transactions by providing a counterparty settlement network that eliminates counterparty risk, fragmented liquidity, and poor user experience. The platform uses off-chain state channels for order book trading, clearing, settlement, and compliance activities. It connects to multiple exchanges to share liquidity and has cross-chain collateral and settlement capabilities. Yellow is non-custodial, ensuring user funds are held in secure multi-signature contracts and wallets.
The Benefits of Trading on Yellow Network
Yellow’s trading platform operates off the main chain and utilizes ClearSync, a protocol that verifies sufficient capital for each party to fulfill trades. This ensures zero counterparty risk for traders. By combining elements of decentralized finance (DeFi) and traditional finance (TradFi), Yellow aims to create a transparent financial system. The beta testnet will launch on Duckies, Yellow’s canary network for live test deployments.
Institutional Players Eyeing Digital Assets
Institutional investors are increasingly interested in digital assets. According to a survey by Coinbase, nearly two-thirds of institutional investors holding cryptocurrencies plan to increase their allocations in the coming years. Additionally, almost 45% of those not yet invested in crypto indicate they are likely to enter the sector. Over half of respondents expect prices to rise in 2024.
Hot Take: Institutional Adoption Drives Yellow Network’s Launch
Yellow Network’s launch of its beta testnet and incentive program comes at a time when institutional investors are showing growing interest in digital assets. With its focus on addressing the challenges of digital asset transactions and providing a transparent financial system, Yellow aims to cater to institutional adoption. The launch of its testnet is a crucial step towards implementing its counterparty settlement network and attracting institutional players in the future.
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