ETHGlobal Brussels in July 2024 was a great event for blockchain enthusiasts and innovators. Our team had the honor of participating and we developed DeCash, a protocol designed to bring fast and simple decentralized social payments to everyone. DeCash stands out by making decentralized finance (DeFi) accessible and user-friendly for non-crypto users. Here’s a recap of our incredible journey at the hackathon and the milestones we achieved.
The reason of DeCash
The current blockchain ecosystem presents significant barriers to entry for non-crypto users. High transaction costs, slow speeds, and fragmented liquidity create a complex and often frustrating user experience. These issues deter many potential users from adopting DeFi. Our mission was to address these challenges and make DeFi accessible to everyone.
Our Solution
DeCash was conceived with the goal of removing these barriers. By implementing the Polygon Aggregation Layer (AggLayer), we aimed to reduce both the cost and time associated with transactions. Our project seeks to unify the process of moving assets across different blockchain networks, making decentralized social payments seamless and efficient. Additionally, we simplified the user experience by enabling the sending and receiving of money via QR codes.
The Hackathon Experience
At ETHGlobal Brussels, the atmosphere was electric with innovation and collaboration. Our team, consisting of Pablo Vigara, Saul Garcia, and Mateo Gonzalez, worked tirelessly to bring DeCash to life. The response to our project was overwhelmingly positive, validating our approach and vision.
Achievements and Awards
We are proud to announce that DeCash won several prestigious awards at the hackathon:
- 🥇Polygon - Unified Bridge zkEVM: Recognized for our exceptional implementation of the Polygon Aggregation Layer, enhancing transaction speed and reducing costs.
- 🥇Dynamic - Best SocialFi Project: Awarded for our innovative approach to integrating social finance, making decentralized payments easy and accessible.
- 🥇Blockscout - Best Use of Blockscout Block Explorer: Honored for our effective utilization of Blockscout’s tools to enhance user experience and transparency.
- 🥈Chronicle Protocol - DeFi Track: Second place in the DeFi track, highlighting our contribution to advancing decentralized finance.
How DeCash Works
Bridging Technology
At the core of DeCash is the Polygon Aggregation Layer (AggLayer), which allows seamless transfers of assets between various blockchain networks. This technology reduces the friction typically associated with moving assets across different chains, ensuring smooth and efficient transactions.
User-Friendly Accounts
To simplify user interactions, DeCash employs Dynamic to separate user accounts from underlying cryptographic keys. This allows for more flexible and user-friendly interactions with the blockchain, making it accessible to non-technical users.
Interoperability
Interoperability is a critical feature of DeCash, ensuring that different blockchain networks can communicate and interact with each other. By integrating various blockchains, DeCash enables users to transfer assets effortlessly, significantly reducing transaction fees and processing times.
What’s Next for DeCash
Looking ahead, our team is exploring several ideas for partnerships and protocol improvements, focusing on security and scalability. We aim to continue enhancing DeCash to make decentralized finance as simple and reliable as traditional financial transactions.
We invite you to explore how DeCash works and see its potential in action. Visit our documentation for a step-by-step guide on creating and claiming links:
Conclusion
ETHGlobal Brussels 2024 was a significant milestone for DeCash. Winning multiple awards and receiving positive feedback has motivated us to continue our mission of making DeFi accessible to everyone. We are excited about the future and look forward to bringing more innovative solutions to the blockchain ecosystem. Stay tuned for more updates and developments from DeCash!