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0 sats \ 3 replies \ @k00b 22 Dec 2021 \ on: Portal — A Financial Internet Built on Bitcoin bitcoin
I don't understand this even after reading the article. Anyone have a good grasp of Fabric and Portal and explain it to me like I'm five?
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1 sat \ 2 replies \ @ama OP 22 Dec 2021
DEFI built on top of shitty centralized blockchains is POS (I mean piece of shit, not prove of stake -although it's actually the same... but I digress...).
DEFI needs to be built on top of the one decentralized blockchain, i.e. Bitcoin, which is what Fabric and Portal are building.
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0 sats \ 1 reply \ @k00b 22 Dec 2021
I get it's built on Bitcoin, but how? Trying to avoid reading the whitepaper 😅
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11 sats \ 0 replies \ @ama OP 22 Dec 2021
Fabric is a second layer protocol (like Lightning Network), not a side chain (like RSK or Liquid) which allows for smart contracts. It's basic token is BTC (like LN), not a BTC pegged token.
Portal is building DeFi services on top of it, using its smart contracts, in a similar fashion RGB is building on top of LN.
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