The Power of Ethereum (ETH)
Ethereum (ETH) is an extremely powerful open-source blockchain that hosts a large amount of decentralised applications. With the large increase in decentralised finance (DeFi), most DeFi projects rely on the reliability of Ethereum (ETH) to securely transfer and maintain their own funds. This is known as Ethereum (ETH) staking. Essentially, the phenomenal success of Ethereum (ETH) through the years has seen most new cryptocurrency projects ride on its trustworthy coattails as they seek to attract new investors and gain success in the market.
Filecoin (FIL) is somewhat different to its peers. As opposed to blockchains that use the Proof of Work concept, Filecoin (FIL) uses a Proof of Replication (PoRep) and Proof of Spacetime (PoSt). With Proof of Replication and Proof of Spacetime, the clients data is proved to be stored physically. This ensures high levels of security and integrity.
Unlike many decentralised blockchains, Filecoin (FIL) does not solely rely on Ethereum (ETH) to stake its coins. Investors can use Crypto.com or Binance to buy and stake their FIL coins. When staking Filecoin (FIL) for a year at a staking recompense of 9%, your passive income for 12 months can be about 1.88 - equal to $19.035 (At current time of writing the current Filecoin (FIL) price is equal to $8.46).
It's a solid return and it's the reason that a lot of smart money has been making its way in the direction of this project, which has seen its reputation grow steadily since its launch in 2014. Filecoin’s (FIL) founders seem to truly pride themselves on making the internet, and more specifically web 3.0, more secure and efficient. They are achieving this by using a decentralised data storage marketplace.
Cash-Fi (CFI) is a new and exciting integrated platform that uses the ERC-20 $CFI token as its centrepiece. It will use an evaluative methodology for off chain cooperation while also allowing for on-chain interoperability using an ecosystem of Multi-Chain web 3.0 products designed to stimulate global liquidity and enable seamless value exchange.
CashFi (CFI), unlike Filecoin (FIL) does use the Proof-of-Stake (PoS) protocol in conjunction with Ethereum (ETH). CashFi (CGI) stake would allow investors to safeguard PoS platforms natively by supplying 1:1 pegged ERC-20 liquid staking representation tokens on Ethereum (ETH), permitting them to free up liquidity for staked assets.
Cash-Fi is a new project, currently at the presale stage, and is attracting a lot of attention as more and more investors seek the security that its liquid staking protocol offers.
In little over a year, liquid staking in Ethereum (ETH) has risen from sub-1% penetration in January 2021 to justover 30% penetration in early May of 2022. More and more enterprises and institutions are looking to participate in liquid staking every day, because of the secure and widespread success rates and failsafes that it clearly offers.
Learn More About CashFi (CFI):
The Secure and Profitable Benefits of Liquid Staking with Ethereum (ETH), Filecon (FIL) and CashFi (CFI)
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