A blockchain that continues to move forward – Compound has finally unveiled the first prototype product of the Compound Chain, announced last December. Thanks to Gateway, Compound intends to open the doors of DeFi to the entire crypto ecosystem.
After having cut corners on Ethereum and actively participating in the expansion of DeFi, Compound unveiled last December its plans to create its own blockchain: the Compound Chain .
Regarding consensus, the Compound Chain will operate a proof of stake mechanism , but will only have validators approved by the governance of the protocol.
With this new chain, Compound wishes to focus on interoperability between the different blockchains.
A first prototype: Gateway
A few months after the first announcements, Compound has just revealed its first product, still in the prototype stage: Gateway .
“Gateway is a blockchain substrate , governed by the COMP token holders on Ethereum. From the start, Gateway has been fully scalable. Governance is able to directly upgrade the blockchain, voting on code upgrades, with no fork or downtime. “
Unlike most similar projects, Gateway will not rely on the tokenization of assets to transfer value from one channel to another. In practice, this will make it possible to take advantage of its features without having to send assets to the Gateway blockchain.
In other words, it means that a user will be able to obtain a loan on the Gateway blockchain, using collateral present on Ethereum.
Although this project is only at the testnet state for the moment, the roadmap, for its part, provides for several audits and the connection between Gateway and the Compound protocol present on Ethereum.