It was last year when we covered a $ 11.2M fundraiser Sienna Network, the beginning of the ‘secret leak’. The network is built on the Hidden Network, which allows property owners to convert to cryptographic tokens. Confidential financial blockchain projects are important if DeFi is to function properly, otherwise normal financial transactions – which are typically unique to the traditional financial world – will struggle to take.
Sienna is one of several blockchain companies trying to thwart “early development”, where Ethereum transactions can easily compete with another person by paying a high transaction fee – such as a stock market transaction with paying high brokers.
Sienna Network has now launched a private lending platform, called SiennaLend. The company claims that crypto users can use the site to gain interest in their crypto and also borrow from the site crypto – all privately. The forum will compete for this position Change it and CanjeeroSwapbut he claims to have more symptoms than both.
SiennaLend is (apparently) built on the surface of the Hidden Network, which has – the company’s claim – greater security and safety compared to open and non-private barriers like Ethereum, Solana and others.
SiennaLend’s place on the market is that low gas prices will make it attractive to small investors.
“Paying a transaction fee of $ 150 to make a $ 200 loan makes little sense and this is another great benefit for SiennaLend. Gas charges are counted at a cent per dollar as the weight of the block is much larger. I we spent 15 months in secret, improving the right crypto game and raising the next level of public finances, ”Monty Munford, Chief Publisher, Sienna Network, said in a statement.
Sienna says “Personal Identifiable Information (PII)” refers to users can delay and see their wallet assets and business history using their wallet address. It will also pay off loans, as will be the case with traditional loans, allowing users to deposit in a pool and choose to earn interest or a loan based on that deposit. The idea is that traders can easily defend against the current market volatility.
DeFI loan systems like this are widely seen to be leaving, though in the transfer market, because they offer additional guarantees for crypto holders. Cryptocurrency-based loans have become The most widely used feature of DeFi.
Built on the Hidden Network, the Sienna / SiennaLand Network is also part of the recently updated Cosmos ecosystem. to join the IBC. Cosmos are competing – after Polkadot fashion, as well as the internet of blockchains.