FireProtocol to Initiate Migration to Polkadot
Dear Community,
After long time of hard work and development, we must, at this particular time, initiate FireProtocol’s migration to Polkadot. It’s time for us to sail afar in a new journey.
HECO is indeed a public Blockchain with outstanding performances, but we made this decision out of serious considerations for the long-term development and sustainable growth of FireProtocol ecosystem. There are limitations of HECO, including but not limited to:
Limitation of performance;
Lack of guarantee in governance and sustainable upgrading;
Shortage of overall ecosystem support to drive adoption;
Limits on developer tools and functionalities.
Polkadot offers a more tangible and efficient set of solutions:
- High Throughput:
The Babe/Grandpa mix of consensus mechanism well guarantees that it’s not prone to have forking or roll-back, i.e, the risks of delays in transactions. Under the governing of the mechanism, the relayer chains will be able to produce qualified works, blocks and chained blocks continuously.
2. Cross-chain Functionalities:
Polkadot enables XCMP data transmission protocol which sets the basic rules for the cross-chain mechanism of Polkadot parachain and relayer chains. Also, outside protocols can be integrated through the bridge module as well.
3. High-level Freedom:
Based on Substrate framework, limitations of the current solidity/EVM technical frames are broken, which makes expansion and extension of functionalities.
4. Easier Upgrading Process:
Based on the on-chain governance and non-forking upgrading, Polkadot makes the governance and upgrading easier.
To conclude, FireProtocol now chooses Polkadot and will be migrating our suite of DEFI products (DEX, Money Market) to Polkadot. We believe that the substrate technology is more suitable for us to realise interoperability, scalability and cross-chain functionalities.
Through the XCMP protocol, we can plug the module into one of the slots and connect with other chains to enable cross-chain communications as well as capital flows.
We want to thank the community for the strong support, and we hope this will excite you as much as us. Our recently released roadmap will be fully realise on the Polkadot infrastructure!
