Revolutionizing DeFi: Omni-Chain Solution by Parallel Finance Founder Yubo Ruan 🚀🔗

Revolutionizing DeFi with Omni-Chain Solution: Interview with Yubo Ruan

The decentralized finance (DeFi) sector is filled with potential but faces challenges in terms of interoperability between different networks. This fragmentation creates a complex environment for users, hindering seamless user experience across the industry.

In a conversation with Cryptonews.com, Yubo Ruan, Founder and CEO of Parallel Finance, discussed these cross-chain challenges and his work on developing solutions to streamline the DeFi segments. His goal is to enhance connections between diverse platforms and make them more accessible for users.

Yubo Ruan’s L2 Visions

Ruan expressed concern about the overwhelming options and technical barriers that average users face in the rapidly growing Layer 1 and Layer 2 landscape. He emphasized the need to address these issues to move forward in the DeFi space.

Ruan mentioned that there are about 30 unlaunched Layer 2s on the L2Beat website, with potentially hundreds more about to launch. The current situation is not feasible for consumers.
He also highlighted how developers can use blockchain technology to manage emerging technologies like artificial intelligence, providing a method to control AI and contribute to long-term AI safety.

Parallel Network: The Omni-Chain Solution

Ruan introduced the Omni-Chain solution proposed by Parallel Finance as a response to the sector’s fragmentation. This project aims to improve the Layer-2 (L2) landscape and create a more integrated and efficient ecosystem.

Parallel Network is open for buildooors

As the first omni-chain L2, Parallel unifies liquidity from any chain into one place, providing the infrastructure to build a truly interoperable and omni-chain future for everyone.

Learn how you can get started pic.twitter.com/A9LtVEc6Ty

— Parallel Network (@ParallelFi) January 20, 2024

Omni-Chain is designed to unlock the potential of interoperability and act as a bridge across various blockchain networks. It simplifies the interaction between different chains, enabling seamless transactions and interactions without the typical barriers users face today.

Parallel Network utilizes Optimistic Rollup to improve efficiency and was the first Layer-2 to launch with Arbitrum’s license, leveraging its competitive performance and execution environment.
The project plans to deploy L2s settled on numerous chains, including Ethereum and Bitcoin, to aggregate networks together. It also offers improved staking management capabilities through a wide range of staking options.
Parallel’s Omni-Chain aims to reduce users’ spending by sponsoring gas fees for eligible transactions and create a new business model that doesn’t solely rely on fees as a revenue source.

Many Dropouts and More Companies Founded

Yubo Ruan, born in 1996, has already founded four companies and has a rich entrepreneurial background:

Ruan’s first company, Alisimba Technologies Inc., was started during high school. It created an online piggy bank product that taught children about financial habits and eventually sold for over $4 million.
He co-founded Skylight Investment, where he invested in high-tech companies focusing on disruptive technology innovations, such as Lightelligence.
Ruan also founded 8 Decimal Capital, a pioneering blockchain fund with over 40 portfolio companies and assets under management of over $60 million.

With a strong programming background and a deep understanding of cryptography gained through education and professional experience, Ruan is well-prepared to navigate the crypto sector’s challenges.

Hot Take: Revolutionizing DeFi with Omni-Chain Solution

The Omni-Chain solution proposed by Parallel Finance and its founder, Yubo Ruan, has the potential to revolutionize the DeFi sector by addressing interoperability challenges. By creating a bridge between different blockchain networks, Omni-Chain simplifies transactions and interactions for users, enhancing the overall DeFi experience.

With its focus on improving the Layer-2 landscape and leveraging technologies like Optimistic Rollup and Arbitrum’s license, Parallel Network aims to provide a truly interoperable and omni-chain future. By reducing users’ spending and exploring new revenue models, it offers innovative solutions to make DeFi more accessible.

Yubo Ruan’s entrepreneurial background and expertise in programming and cryptography position him as a key player in driving the adoption of decentralized finance. With his vision and innovative projects like Parallel Network, Ruan is poised to shape the future of DeFi.