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The cryptocurrency landscape is dynamic and ever-evolving, with new projects constantly emerging to challenge the dominance of established players.

In recent years, Solana (SOL) and Cardano (ADA) have gained prominence as promising blockchain platforms, each with its unique features and capabilities.

However, one project that is poised to disrupt the status quo and potentially overtake both SOL and ADA is Retik Finance (RETIK). In this article, we will explore the reasons behind Retik Finances potential to surpass Solana and Cardano in 2024.

Solana has been lauded for its impressive scalability and high throughput, which makes it suitable for a wide range of decentralized applications (DApps) and smart contracts. However, Retik Finance is designed to offer even greater scalability and transaction throughput. Retiks blockchain architecture is optimized for handling a vast number of transactions per second, surpassing the capabilities of both Solana and Cardano. This enhanced scalability positions Retik Finance as a formidable contender in the race for blockchain dominance.

Decentralization and community governance are essential principles in the blockchain space. While Cardano and Solana have made significant efforts to achieve decentralization, Retik Finance takes this concept to the next level. Retiks decentralized consensus protocol ensures that no single entity has undue control over the network, making it truly decentralized.Additionally, Retik Finances governance model empowers token holders to actively participate in shaping the platforms future. This commitment to decentralization and community involvement sets Retik apart from its competitors.

Security is paramount in the world of cryptocurrency, and both Solana and Cardano have implemented robust security measures. However, Retik Finance places a strong emphasis on security and privacy. Retiks credit-scoring architecture leverages blockchain transparency to enable trustless transactions. This approach eliminates the need for trust-based protocols, providing users with a higher level of security compared to traditional financial systems. The combination of security and privacy features makes Retik Finance a compelling choice for users seeking a secure and private blockchain platform.

Click Here To Take Part In Retik Finance Presale

Retik Finances mission is to promote financial empowerment and inclusion worldwide, transcending geographical and socioeconomic boundaries. This vision aligns with the core principles of blockchain technology, making financial services accessible to everyone. While both Solana and Cardano have made strides in the blockchain space, Retiks focus on inclusivity positions it as a strong contender for widespread adoption. Its commitment to creating a global financial ecosystem that welcomes users from all backgrounds sets it apart.

Efficiency and cost-effectiveness are crucial factors in the blockchain industry. Solana, in particular, is known for its low transaction fees and high efficiency. However, Retik Finance offers a cost-effective solution with even lower transaction costs. Retiks smart contract functionality automates processes, enhancing efficiency and reducing costs. This focus on affordability and efficiency makes Retik Finance a competitive choice for businesses and users alike.

Retik Finance offers a comprehensive suite of DeFi products and services, ranging from the Retik Wallet to the Retik DeFi Debit Cards and Retik Pay. These products are designed to facilitate seamless crypto management, investment, and participation in the DeFi ecosystem. While Solana and Cardano have made significant advancements in DeFi, Retik Finances user-centric approach and diverse range of DeFi offerings position it as a formidable competitor.

One of the standout features of Retik Finance is its DeFi Debit Cards, which bridge the gap between traditional finance and the cryptocurrency world. These cards empower users to spend their crypto holdings in real-world transactions.

What sets Retiks DeFi Debit Cards apart is the integration of cashback rewards in RETIK tokens, providing users with additional benefits for every transaction. While Solana and Cardano are focused on blockchain infrastructure, Retiks approach offers an attractive incentive for cryptocurrency spending, making it a compelling choice for users.

Click Here To Take Part In Retik Finance Presale

The RETIK token plays a central role within the Retik Finance ecosystem. It serves as a transaction currency, a governance mechanism, and an incentive for users. The tokens multifunctionality enhances user engagement and facilitates various ecosystem activities.

While Solana and Cardano have their native tokens, Retiks RETIK token empowers users and contributes to the overall growth and stability of the platform. Whats more exciting is the predicted 2000% price surge in RETIK tokens, which could potentially skyrocket its value.

This surge is driven by the projects innovative features, growing adoption, and a strong community of supporters.

While Solana (SOL) and Cardano (ADA) have made significant contributions to the blockchain industry and continue to be prominent players, Retik Finance (RETIK) presents a compelling case for overtaking them in 2024.

With its enhanced scalability, decentralization, security, inclusivity, low transaction costs, comprehensive DeFi offerings, innovative features, and a predicted 2000% price surge, Retik Finance is well-positioned to challenge the dominance of Solana and Cardano.

As the cryptocurrency landscape evolves, projects like Retik Finance showcase the potential for innovation and competition in the blockchain space. Additionally, dont miss out on the Mega Giveaway that could be your ticket to owning RETIK tokens and becoming a part of this exciting journey.

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Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com/

Linktree: https://linktr.ee/retikfinance

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Solana (SOL) and Cardano (ADA) to be overtaken by Retik Finance (RETIK) in 2024 - Finbold - Finance in Bold

Censorship is on the rise in Ethereum as key players block transactions tied to US sanctions, undermining its decentralized ethos. Image by Kerem Goktug Kaya, DALL-E 3.

A pillar of Ethereums original vision was decentralizationthe idea that its blockchain would operate outside constraints from centralized entities like governments and corporations. Recent data indicates this ideology is being tested, however, as key Ethereum players increasingly censor transactions linked to US sanctions.

A major turning point came last year whenthe US Treasury Departments Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, an Ethereum mixing service that enabled private transactions. OFAC claimed the tool was utilized by terrorists and other illicit actors.

In response, Tornado Cashs code was added to the same US blacklist containing bad actors like North Korea and Hamas. Supporters decried the targeting of Tornado Cash as government overreach and censorship. Ethereum has not proven immune, however.

In recent months, censorship of transactions tied to US sanctions has markedly increased on Ethereum, according to new research from Ethereum Foundation researcher Toni Wahrsttter. A metric measuring censored blocks on Ethereum surged from around 25% in November 2022 to approximately 72% currently.

This spike stems largely from block builders, who assemble transactions into blocks and provide them to validators to add to Ethereums blockchain. Five major block builders now contribute over 90% of Ethereum blocks. Of those, only one major builder, Titan Builder, claims it does not filter transactions in this manner.

The lone block builder still processing all transactions claims over 20% of blocks. If Titan began engaging in censorship as well, per Wahrsttters analysis, overall Ethereum censorship could immediately jump to over 90%. Such reliance on a few builders contradicts the decentralized ethos blockchain promised.

For many in the Ethereum community, such censorship represents a betrayal of the networks founding principles. The technologys decentralized appeal rests on it being uncontrolled and unfettered by real-world biases. Yet block builders now hold immense power over which transactions end up on Ethereum, granting them the power to selectively exclude addresses flagged by OFAC.

Some builders defend this censorship as merely prudent compliance with US regulations. However, critics argue it sets a dangerous precedent of centralized entities overriding Ethereums core coding to meet external rules. It also limits full access to the blockchain for individuals sanctioned by the US government.

Beyond censorship, the centralization of key transaction functions into a few dominant block builders could pose security risks, according to experts. Further, these players gain privileged access to pending transaction data, potentially allowing them to maximize profits through trading strategies before transactions are added to the blockchain. This raises additional questions about fairness and transparency.

Ethereum was designed as a decentralized network not beholden to external constraints. Block builders processing transactions increasingly censor addresses tied to US sanctions, however, calling Ethereums decentralization into question. While some view this censorship as prudent legal compliance, critics see it as contradicting Ethereums core values.

In response to these concerns, Ethereums leadership is exploring ways to curb censorship trends. Vitalik Buterin has proposed updates that inhibit transaction blocking by validators and builders.

This challenge to Ethereums decentralized ethos may prove to be a defining one, forcing the community to confront difficult questions about the limits and future direction of the technology. The answers could shape Ethereums ability to evolve while retaining the core principles on which it was founded.

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Censorship Climbs on Ethereum as Block Builders Bar US-Sanctioned Transactions - Cryptonews

Microsoft, Tencent and 16 other Web2 giants have partnered with Consensys on its mission to decentralize the Infura network the key point of access to Ethereum for much of the decentralized finance (DeFi) sector.

The partnerships aim to increase decentralization on the Infura network key to preventing outages of the Web3 services that leverage it, including the wallet service MetaMask.

Speaking to Cointelegraph, Consensys senior product manager Andrew Breslin said the significance of the partnerships was less about who they were and more about the big-name firms aligning with Infura in wanting to decentralize every layer of the blockchain infrastructure stack.

Scheduled for a Q4 launch, the Decentralized Infura Network (DIN) stands as a solution to the problem of centralization for Infrua, with the network currently controlled by Consensys, meaning there remains a single point of failure.

The cost and complexity involved with running a service like Infura was kind of limiting in terms of who we could partner with to serve this traffic, said Breslin. Now theres this huge flourishing ecosystem of Web3 infrastructure providers that can provide a service thats complimentary to Infura.

Breslin said one of the first major features offered in the DIN is failover support for the Ethereum and Polygon networks. Failover support means that traffic can be re-routed to one or multiple DIN partners in an outage, guaranteeing higher uptime rates in the long run.

Upon launch, the DIN will allow for more reliable and censorship-resistant access to Ethereum as decentralized applications (DApps) wont need to rely on a single service provider located in just one place, Breslin said.

Developed by the blockchain software giant Consensys, Infura offers a development suite that provides API access to the Ethereum and IPFS networks. At present, Infura is the access point for most DApps to access real-time on-chain data from the Ethereum blockchain.

In November 2020, the centralization issue came to light when the MetaMask wallet stopped working due to Infura suffering a temporary outage. Several centralized exchanges and DeFi projects were also affected by the downtime.

Decentralizing blockchain data providers on the Infura network is critical for censorship resistance in the long term because, at present, centralized data providers can be shut down with a single well-planned attack or sufficient legal action.

Related: End of an era Consensys sunsets Truffle, Ganache amid shift to MetaMask Snaps

Speaking to the roster of newly announced partners, Breslin said the current lineup was not a closed set and that Infura wanted to let other highly reliable internet infrastructure providers know that Infura is open to them joining the DIN as well.

The cohort of new companies is working with Infura in what Breslin called the federated phase of the DIN a temporary trial period where the network remains centralized.

Infura and these 18 partners are now participating in this federated phase of DIN, which means that we work as equal partners, said Breslin.

In the future, Breslin said the DIN would ideally be governed as a decentralized autonomous organization or some other type of governance structure that ensures each partner has a democratically weighted say in the direction of the network.

Magazine: Beyond crypto Zero-knowledge proofs show potential from voting to finance

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Microsoft, Tencent and other tech giants join Decentralized Infura ... - Cointelegraph

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Microsoft, Tencent, and 16 other Web2 companies have partnered with blockchain software company Consensys, with the goal of decentralizing the Infura network.

The Infura network is currently the key point of access to Ethereum for much of the DeFi industry. With this collaboration, the companies seek to increase decentralization on Infura to prevent outages of the Web3 services that use it, such as the wallet service MetaMask.

In a press release issued today, Infura announced that the introduction of its Decentralized Infura Network (DIN) alongside the initial group of 19 partners marks a significant milestone in the ongoing process of progressive decentralization for one of the most widely used web3 API services in the ecosystem.

We are immensely grateful to all our partners who have been part of the journey to build the Decentralized Infrastructure Network with us over the past year, said E.G. Galano, co-founder of Infura and the project and technical lead for DIN. Together, we have achieved remarkable progress and eagerly anticipate the continuation of this journey as we bring the power of DIN to Web3 developers and users.

Consensys senior product manager Andrew Breslin told Cointelegraph that the significance of the partnerships was more about the goals of big-name firms aligning with Infura rather than who they were.

The cost and complexity involved with running a service like Infura was kind of limiting in terms of who we could partner with to serve this traffic, Breslin said. Now theres this huge flourishing ecosystem of Web3 infrastructure providers that can provide a service thats complimentary to Infura.

The DIN is positioned as a remedy to the centralization challenge faced by Infura. Presently, Infura is controlled by Consensys, meaning there is a single point of failure. DIN aims to address this concern by decentralizing the network, starting with a Q4 launch.

The DIN will debut with two initial features: failover protection on Polygon and Ethereum. This functionality enables users to redirect RPC (Remote Procedure Call) traffic from one DIN partner to another, ensuring continuous service in the event of an outage.

In the upcoming weeks, Infura users will have the option to opt-in to DINs failover protection, contributing to reduced centralization and increased uptime for decentralized apps and developers.

In its statement, Infura also announced that the first version of DIN would be federated around the original group of partners announced today. The company expects to welcome more members in the future and will also look to unveil a roadmap for the progressive decentralization of DIN.

By contributing to DIN, were not just helping to stand up an open protocol, were architecting a revolution for developers where permissionless innovation becomes the norm, said Austin Roberts, founder and CEO of Rivet, one of the Web2 firms collaborating with Infura.

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Web3 Firm Infura Recruits Microsoft, Tencent, and Others To Build ... - Cryptonews

Ethereum layer-2 scaling network Starknet has outlined plans to improve the decentralization of three core components of its zero-knowledge(ZK) proof rollup solution.

Speaking exclusively to Cointelegraph, Starknet product manager and blockchain researcher Ilia Volokh outlined the firms intent to address certain centralized elements of its protocol aimed at defending against censorship and making its system more robust.

Starknet operates as a validity rollup using ZK-proof technology to bundle transactions, with cryptographic proofs submitted to Ethereum to achieve security and finality for layer-2 transactions.

According to Volokh, Starknets protocol remains dependent on StarkWare for creating L2 blocks, computing proofs and initiating layer-1 state updates to the Ethereum blockchain.

In this sense, the operation of the network is centralized. This temporary situation, until full decentralisation, is not necessarily a bad thing. Although Starkware operates the network, it cannot steal money and cant do any invalid state transitions because they require executing the verifier on Ethereum, Volokh explained.

While Starkware remains a centralized gateway to enter Starknet,Volokh added that the protocol is 100% honest and cannot falsify transactions or information, as Ethereums layer-1 blockchain acts as a filter.

The only tangible way in which Starknet can misbehave is either by being idle in not relaying proofs to Ethereum or by specifically censoring certain parties from including transactions or proofs.

For Starknet, the latter consideration is part of the main reason to decentralize parts of its protocol in an effort to combat two main causes of censorship in consensus-based systems.

Intentional censorship is one consideration, while non-robust systems that have a single point of failure present another threat to decentralization, given that all network participants would be censored if this central point caused a network or system outage.

Decentralizing these different components of Starknets system entails varying degrees of difficulty. This includes decentralizing block production through its consensus protocol, decentralizing the proving layer, which is in charge of computing proofs for blocks and decentralizing the process of L1 state updates.

I want to emphasize that its crucial to decentralize each of them because as long as even one of them is centralized, you havent achieved much, Volokh added before unpacking the relevant challenges of each component.

Decentralizing block production has been fairly straightforward given that all blockchains rely on a consensus protocol and sybil-resistance mechanism. Meanwhile, decentralizing Starknets prover has required a more novel approach.

As far as I know, were the first rollup that has come out with a fairly complete and concrete solution, Volokh said. He also went on to unpack how competing ZK-rollups all essentially aggregate transactions into proofs and post them on Ethereum, which by extension transfers its own decentralization to rollup solutions.

However, these systems all rely on respective central entities to create and prove blocks, which means these layer 2s are equally centralized. Whether end users are concerned about the philosophical implications of the centralized components of L2s is another conversation altogether for Volokh:

Volokh added that Starknet is still in the process of outlining the process of testing and implementing these decentralized mechanics in its network. This is likely to be carried out through a series of interconnected testnets to test the simultaneous functionality of the different components.

Magazine: Heres how Ethereums ZK-rollups can become interoperable

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Ethereum L2 Starknet aims to decentralize core components of its ... - Cointelegraph