ALTCOIN INVESTING PICK OF THE WEEK: BIFROST

2 min readFeb 4, 2021

Our Project and Altcoin Pick This Week Is BIFROST!

What Is Bifrost (BFC)?

Bifrost is a multichain middleware platform that enables #developers to create #Decentralized #Applications (DApps) on top of multiple protocols. Not restrained to a single blockchain, Bifrost creates a new environment where developers can combine the best #protocols to develop #substantially more #scalable and flexible DApps.

What Makes Bifrost Unique?

#Flexibility: To maximize the potential of the blockchain technology, a superior flexibility that allows users to select and combine blockchains is needed. Bifrost focuses on this flexibility, enabling developers to extract the most from blockchains.

#Scalability: Bifrost operates with multiple blockchains without any additional abstraction layers, so you can use the #features of each blockchain directly. Its flexibility enables you to apply different blockchains best suited to your needs.

Interoperability: The value of interoperable blockchain service grows as the blockchain industry grows. On Bifrost, you can build services with countless possibilities for combinations and #interoperability, from the start.

Full Dev Suite: #Bifrost provides a full suite of features to develop and operate your product, including an IDE, monitoring function, and client service such as wallets.

What are its use cases?

#BFC (#Bifrosttoken) is the #currency of Bifrost’s #multichain #ecosystem. Developers pay BFC for using the multichain #middleware to develop and operate their #DApps, minimizing the cost of gas fees when using multiple #blockchain protocols than when using one blockchain. More specifically, they will be required to stake a certain amount of BFC and the fees will be deducted from it. Once the staked amount reaches below a threshold level, they will be asked to purchase BFC to meet the threshold again. The first DApp to be powered by Bifrost is the multichain #DeFi platform, BiFi. Using Bifrost’s multichain technology, #BiFi can connect directly to multiple blockchains like #Bitcoin, #Tron, and #Klaytn, thereby expanding the DeFi ecosystem currently limited to #Ethereum.