After the market's pullback over the past few days, observant friends should have noticed that Bitcoin's market cap percentage is slowly declining, while altcoins are starting to stabilize. Many old coins are rotating quite actively, and this rhythm makes one wonder if the long-awaited altcoin season is finally here?
Recently performing well$CYC , after launching on Binance Alpha, it skyrocketed several times. Let's learn more about this project together.
1. Project Overview
Cycle Network is a comprehensive trustless distributed ledger that supports all BTC and EVM networks. Developers can create their dApps on a new layer without needing to recreate code across different chains. More importantly for users, using dApps no longer requires remembering those annoying private keys or seeds, and gas fees can be significantly reduced. This means we can interact and trade across chains and dApps in a secure full-chain environment without having to bridge, making it extremely convenient.
2. Narrative Upgrade
Recently, Cycle Network completed a narrative upgrade, transforming into a no-cross-chain multi-chain settlement layer called 'VisaNet'.
Both security and efficiency have made qualitative leaps, allowing for quick, secure, and seamless settlement of all blockchain assets.
Its technical architecture is divided into three layers:
1. Security Layer: Utilizing Ethereum and zero-knowledge proof (ZKP) technology, it ensures state integrity, effectively adding a strong security gate to the entire settlement network. Once zero-knowledge technology is applied, security skyrockets, making our assets more reliable.
2. Expansion Layer: By connecting all source and target chains through decentralized endpoints and expanded data availability (EDA), it breaks down the barriers between chains.
3. Cycle Layer: As a zkEVM Rollup, it integrates multi-chain activities, making our cross-chain interactions feel completely unobstructed, truly achieving seamless cross-chain functionality.
This 'VisaNet' mainly serves stablecoins and RWA (real-world assets), helping them achieve full-chain issuance and circulation for comprehensive settlement. Compared to previous models, the advantages are clear: zero-knowledge technology enhances security. Asset transparency has increased, allowing us to clearly see the status of our assets. Developers no longer need to worry about the complexities of cross-chain issues, significantly improving development efficiency.
3. Latest Developments
Recently, Cycle Network secured investment from Unicorn Verse and launched UnicornX, becoming the latest project in the Unicall series. UnicornX is more than just an ordinary DEX; with the support of UnicornVerse, it accelerates projects through UniCall and XCall, with an average growth rate of +507.3% for launched projects, making this collaboration undoubtedly a strong partnership.
What's even more impressive is that during the market downturn, Cycle Network's FDV remained stable above 100M, demonstrating independent market performance, and the token price also performed well post-TGE. Moreover, its infrastructure is robust: $400 million safeguards the security of the settlement network, with over 3 million mainnet transactions integrated with more than 20 mainstream chains, and new chains can be added at any time.
In summary, Cycle Network, with its innovative technology, good market performance, and strong partnerships, is making steady progress in the field of multi-chain settlement on the blockchain, and it may bring considerable surprises and transformations to the industry in the future.
Twitter: @cyclenetwork_GO @unicornxdex @unicornverse_io
