The DeFi sector of the cryptocurrency market is growing, and some projects are developing revolutionizing technology that is transforming the sector entirely. One such project is ByteNext, which was born as an ecosystem for startups, allowing them to raise capital through DAVC, while it also allows investors to use its voting system to select potential projects, and show what they are interested in.
What Does ByteNext Do?
ByteNext is a project that aims to solve a very specific problem. Essentially, the project has noticed that crypto and blockchain tech are seeing growing rates of adoption, especially since they captured the attention of businesses and institutional investors. This is not surprising, as blockchain offers quick time-to-market and puts an emphasis on ecosystem development. Crowdfunding, in particular, has been a core emphasis in the blockchain industry.
However, despite these and other strengths that blockchain offers, it has its downsides. For one, it is still young and fairly new technology, which sees growing demand, but a very limited number of developers. There are now schools and universities that offer blockchain courses, but they can only cover so much, considering that the technology itself is still in development.
Things are changing rapidly in the blockchain sector all the time, and it takes a lot of work and self-education just to keep up with these changes. Not to mention the changing trends, the complexity of blockchain tech and the different inner workings of the blockchain/crypto sector itself, which is confusing to firms.
Many, therefore, try to get into it and fail, which tends to discourage them from participating, when they simply lack the knowledge and professional help.
ByteNext’s mission is to change that by providing a suite of solutions that would support the major pillars of the fundraising and ICO process.
What Solutions Does ByteNext Have to Offer?
We mentioned that the project aims to be innovative by using DAVC, which is one of the solutions it has to offer. Essentially, ByteNext plans on setting new standards that will drive the development of startups in the crypto and blockchain sectors. As such, DAVC will act as a bridge for investors and projects, as it is trusted by investors, and allows them to vote on projects.
Voting is done through a cutting-edge blockchain voting platform, BVote, which is already deployed, and it achieved real-world adoption, as well.
Another solution is the securities-focused token standard, DSP, which is designed for KYC, AML and securities requirements.
Then, there is a cross-chain decentralized exchange (DEX), known as BDEX. BDEX supports the listing of DSP and DAVC tokens, which can be used to provide liquidity.
Lastly, there is a mobile payment platform and interface, ByPay. ByPay is actually integrated with all of the previously mentioned solutions, and it accesses users’ crypto and interacts with ByteNext solutions, all via one account. That way, it is very simple and quick to access any segment of the ecosystem from one place.
Each solution plays a part and creating a functioning and cohesive ecosystem that covers the major aspects of the project fundraising lifecycle. ByteNext doesn’t only serve startups, either. It can also provide its services to established companies that wish to get into the blockchain sector. It doesn’t matter who its client is — only that the company can help them connect their project team with investors and remove or reduce the challenges that both parties tend to meet along the way.