- Safe today announced its vision for Safenet, a blockchain transaction processing network.
- Inspired by VisaNet, the payments network that powers Visa, Safenet aims to create a decentralized transaction processing network that provides a more unified transaction experience across various blockchain ecosystems.
The Safe Ecosystem Foundation, known for its work in account abstraction, has introduced Secure network—A decentralized network of transaction processors aimed at addressing critical bottlenecks in scaling DeFi. With this ambitious project, Safe aims to pave the way for the $100 trillion global economy to migrate online.
Safenet promises seamless blockchain transactions
Safenet promises to solve a pressing problem in DeFi: liquidity fragmentation. As Layer 2 solutions from companies like Coinbase, Sony, and Uniswap have bolstered blockchain adoption, they have also introduced complexities. Siled ecosystems, multiple wallets, and bridging requirements hamper user experience and liquidity flow.
Safe, which has already established itself as a leading provider of smart account infrastructure, sees Safenet as a game-changer. Taking advantage of features like multi-signature capabilitiesprivate key recovery and email login for self-custody wallets, Safe aims to enable instant cross-chain transactions with execution guarantees, effectively removing obstacles posed by fragmented liquidity and cumbersome processes.
“Safenet is not another Layer 2; “It is a transaction processing network that redefines blockchain interaction,” he said. Lucas Schorco-founder of Safe. “Our vision is to address liquidity fragmentation and create a seamless, secure and ultra-fast experience for every blockchain interaction.”
Inspired by Visa, built for DeFi
Inspired by VisaNet, the global payments network that powers Visa’s vast financial ecosystem, Safenet is designed as a decentralized counterpart to the blockchain space.
Its architecture relies on Safenet processors, which ensure execution guarantees ranging from strong security to fast transaction speeds.
These processors are supported by the Safenet Liquidity Network, which leverages decentralized finance (DeFi) primitives such as decentralized exchanges (DEXs), lending markets, and other liquidity pools.
This approach allows Safenet to function as a unifying layer, allowing users to transact across different blockchain networks without the need for multiple accounts or technical knowledge.
The next phase of chain economic activity
With almost 10% of Ethereum transfer volume The platform, which already runs through secure accounts, is uniquely positioned to catalyze on-chain economic activity. Safenet aims to amplify this impact by enabling seamless cross-chain interactions, thereby positioning itself as a critical infrastructure layer for DeFi’s next phase of growth.
Safenet is expected to launch in the first quarter of 2025.
Also Read: Secure, Basic Collaboration to Drive Smart Account Adoption on Ethereum
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