Berachain is coming
The future of Polaris ?
Berachain is an advanced blockchain compatible with the Ethereum Virtual Machine (EVM) that employs Proof-of-Liquidity (PoL) as its consensus mechanism.
PoL incentivizes network participants, fostering a robust connection between Berachain validators and its ecosystem. The blockchain is built on Polaris, a framework for EVM-compatible blockchains, and operates using the CometBFT consensus engine.
What is the Polaris EVM?
The Polaris EVM is a flexible framework that forms the backbone of Berachain's smart contract execution environment. The Berachain Polaris EVM library is key to its compatibility with the EVM. Polaris enhances the traditional Ethereum experience by providing developers with additional tools such as stateful precompiles and custom modules. These innovations enable the creation of more robust and efficient smart contracts, thereby expanding possibilities within the blockchain space.
This is the interesting part about Berachain. Bera Node is a fork of Polaris with added upgrades.
Berachain is currently in the test phase. If you get a berachain node today, it is a node running locally, until the proper genesis file becomes publicly available.
Berachain stands out with its Proof-of-Liquidity consensus mechanism. This unique feature addresses the issue of stake centralization and aligns validators with network protocols.
It enhances the capabilities of Ethereum smart contracts and sustains a thriving ecosystem, making Berachain a pioneering, community-oriented blockchain solution.
Furthermore, its three-token system sets it apart from other Layer 1 blockchains.
Berachain - Funding
Berachain achieved a noteworthy milestone by securing $42 million in its Series A funding round, resulting in a valuation of $420.69 million.
Launched by a team of pseudonymous founders deeply passionate about cryptography, the platform garnered support from prominent investors.
Polychain Capital led the funding round, accompanied by substantial contributions from Hack VC, Shima Capital, Robot Ventures, Goldentree Asset Management, among others.
Berchains unique Tokenomics
Berachain employs a distinctive three-token system comprising BERA, BGT, and HONEY.
Carefully crafted to address the strengths and weaknesses of existing layer 1 tokenomic models, this system specifically targets liquidity challenges prevalent in other L1 blockchains.
- ** Bera (BERA)**: Serving as the native token, BERA is primarily utilized for transaction fees on the Berachain blockchain, functioning as the "gas token" that compensates for computational resources consumed during transactions.
- Bera Governance Token (BGT): In contrast to conventional governance tokens in Proof-of-Stake blockchains, BGT plays a crucial role in network security through a unique proof-of-liquidity model. It is obtained by depositing liquidity into the native Berachain exchange, and unlike typical governance tokens, BGT is non-transferable.
- Honey (HONEY): Acting as the stablecoin in Berachain, HONEY is designed to maintain stability by accurately reflecting the value of 1 USDC, providing a solution to the volatility concerns associated with digital assets.
Running your Berachain Local Node on Nodeshark
Deploying a Berachain Node generates 3 wallets. After its deployment, you will receive the seed phrases corresponding to those 3 wallets.