Claim Giveaway Token Proof of Reserve

Berachain an EVM-Compatible Layer1 Blockchain

Key Takeaways
  • Berachain combines Ethereum Virtual Machine compatibility with CometBFT consensus for reliability and interoperability.
  • Berachain introduces a novel Proof-of-Liquidity consensus, aligning incentives and promoting synergy between validators and ecosystem projects.
  • Berachain offers an integrated price oracle and a native decentralized exchange (BEX), enhancing functionality and providing a seamless trading experience.
27-Mar-2024 Sourabh Parihar
Berachain an EVM-Compatible Layer1 Blockchain

Berachain an EVM-Compatible Blockchain for Better Crypto Ecosystem

The Berachain Protocol is a blockchain platform compatible with Ethereum Virtual Machine (EVM), leveraging Polaris EVM. It enables Smart Contracts compiled from Solidity or Vyper into bytecode. Its consensus mechanism, CometBFT, ensures reliability. Being built on the Cosmos SDK, it offers modularity for various clients and data layers. This allows flexibility in customization and scalability.

Features of the Berachain Protocol

  • Proof-of-Liquidity Consensus: Berachain utilizes Proof-of-Liquidity, which is a novel consensus mechanism that aims to align network incentives by promoting synergy between validators and ecosystem projects.

  • EVM-Compatibility: Built on Polaris EVM, Berachain ensures compatibility with Ethereum's smart contracts, opcodes, languages (like Solidity), and tooling, simplifying migration for developers and users.

  • CometBFT Consensus Engine: Berachain leverages the CometBFT consensus engine, enhancing its performance and reliability.

  • Modularity: Being constructed on the Cosmos SDK, Berachain offers modularity for different clients, data layers, and more, enabling customization and scalability.

  • High-Performance: Berachain prioritizes high performance, providing a seamless experience for decentralized applications (dApps), transactions, and asset transfers.

  • Optimized for Liquidity and Use Cases: Berachain is optimized for proof-of-liquidity and abstracted use cases such as decentralized exchanges (DEXs), oracles, and more.

  • Economic Model: The Proof-of-Liquidity economic model addresses critical challenges faced by decentralized networks, focusing on liquidity building, stake decentralization, and alignment of protocols and validators for long-term sustainability.

How to Connect Crypto Wallet with Berachain 

  • Install MetaMask:

    • Go to the MetaMask website and download the browser extension for your preferred browser (recommended: Chrome).

    • Ensure that the extension is offered by

  • Create Your Wallet in MetaMask:

    • Once MetaMask is installed, a prompt will appear. Click on "Create a new wallet."

    • Set a password for your wallet. This password will be required whenever you open the MetaMask extension.

    • Follow the instructions to secure your wallet phrase. This phrase is crucial for accessing your assets and should be kept confidential.

  • Connect Your Wallet to Berachain:

    • Open your MetaMask extension.

    • To add Berachain network in one click, click on the provided button. Alternatively, follow the manual steps below.

  • Add Berachain Network Manually:

    • Click on the drop-down menu in the top-left corner of the MetaMask extension.

    • Select "Add Network" from the menu.

  • Enter Network Details:

    • Click on "Add network manually" at the bottom of the existing list.

    • Enter the following details:

      • Network: Berachain Artio

      • Chain ID: 80085

      • Currency symbol: BERA

    • Once entered correctly, click on "Save" to save the network configuration.

  • Verify Connection:

    • After saving the network configuration, you should be connected to the Berachain Testnet.

    • You can verify the connection by checking that the network in MetaMask is set to "Berachain Artio" and that you can view Berachain Testnet details.

BGT Token

BGT (Bera Governance Token) is a key component of Berachain's Proof of Liquidity model. Unlike traditional blockchain governance tokens, BGT cannot be transferred and is acquired solely by depositing liquidity in the native BEX. This token empowers users to participate in network governance by delegating to validators and voting on proposals. Furthermore, BGT can be used to earn rewards from the network. Interestingly, BGT can also be burned for BERA at a 1:1 ratio, offering a way to convert BGT into the native token. In essence, BGT plays a vital role in securing the network and incentivizing active participation through its unique functionalities

Berachain’s BEX

Berachain's native Decentralized Exchange (BEX) offers users the opportunity to contribute liquidity to asset pools, earning rewards in return for facilitating swaps. With support for up to 8 tokens per pool, BEX enables diverse asset combinations, enhancing flexibility for users. Moreover, Berachain's Privacy Policy ensures the protection of user information, with any updates to terms communicated transparently to maintain trust and transparency. Through BEX and robust privacy measures, Berachain prioritizes user empowerment and privacy, fostering a secure and efficient decentralized trading environment while upholding high standards of transparency and accountability.

Berachain Oracle

The Berachain Oracle is an integral component of the blockchain, offering a versatile price oracle directly integrated into the chain. Leveraging Skip's oracle solution and CometBFT's Vote Extensions, validators on Berachain contribute real-time price data for various token pairs, ensuring accuracy and reliability. Supported by leading providers like Coingecko and Coinbase, the oracle continuously updates price feeds for tokens including ATOM, BTC, ETH, and more against USD. Developers can seamlessly integrate this oracle into their applications, accessing precise pricing information for enhanced functionality. As Berachain progresses towards Mainnet, the aim is to expand the network of providers, further enhancing the oracle's capabilities.

In conclusion, Berachain presents a comprehensive blockchain ecosystem characterized by innovation and efficiency. Leveraging EVM compatibility, CometBFT consensus, and a unique Proof-of-Liquidity model, Berachain ensures high performance, modularity, and seamless integration for developers and users alike. The native BEX facilitates decentralized trading with privacy-centric features, while the Berachain Oracle provides accurate and reliable price feeds for enhanced functionality. Through its economic model and governance token BGT, Berachain incentivizes active participation and fosters network sustainability. As it progresses towards Mainnet, Berachain continues to evolve, promising a secure, scalable, and user-centric blockchain platform poised to shape the future of decentralized finance and applications.

Also Read :- ARK Mining a Perfect Cloud Mining Platform in 2024

Related News
Related Blogs