STON.fi Blog

Web3 is still only emerging as a widespread instrument for the average user. Though its benefits and applications have already been appreciated in full by businesses, the latter are powerless in terms of advancing the adoption of their Web3 products if the users are either not interested or engaged in the space. This dilemma is felt most acutely in the west, where a large number of Web3 developers are based, and where they are testing and fielding their applications. But that self-imposed limitation is precisely what hinders the development of Web in that part of the world, since there is another part that is not only open to Web3, but has al

Many people believe that buying something as simple as a movie ticket or an airline ticket online, or on-chain using the decentralized network, is more of an unnecessary complication. The logic is that tickets and other similar products and services have been traditionally purchased off-chain since time immemorial and there is no need to break with tradition. However, logic and traditional thinking have little to do with a progressive outlook that is based on the capabilities offered by innovation. The power of the blockchain and what it has to offer in terms of revolutionizing or even disrupting traditional concepts has yet to be evaluate

The blockchain entails decentralization. However, paradoxically, the exchanges that have operated in the blockchain and crypto space since its inception were all centralized. If we look at the landscape of cryptocurrency exchanges and examine their development from the standpoint of their basis, detached from the legal and regulatory requirements, we will notice that all of the major ones like Binance were deployed by a group of people who later took custody of the legal entity and the funds entrusted to it by the users. The collapse of several exchanges like FTX in 2022 and the ensuing crackdown on the part of the US Securities and Exchan

The NFT, or Non-Fungible Token, phenomenon made its splashing debut in 2020 on a global scale with the launch of dozens of art-oriented projects that offer proof of ownership and the tethering of real world assets to their digital counterparts. Since then, NFTs have evolved to tackle multiple challenges in a wide variety of industries that encompass many areas of the economy. Be it art, gaming, real estate or even logistics, NFTs can be found in any of these domains with varying degrees of success. The fact that NFTs can be used outside their originally intended realm of Web3 is a powerful signal that blockchain-based technologies and solu

A decentralized exchange is a platform that specializes in the trade of digital assets like cryptocurrencies and NFTs. By virtue of being based on the blockchain, a decentralized exchange, or DEX, can access the network and perform all of the same operations like a centralized exchange. However, unlike its centralized counterpart, a decentralized exchange does not act as an intermediary legal entity – it allows users to interact on a peer-to-peer basis, providing them merely with the interface and infrastructure facilities needed. All decentralized exchanges perform trustless operations by relying on automated smart contracts that act as c

Ever since blockchain technology started attracting investments and proved to be an instrument for increasing capital, various types of research and development initiatives were launched to experiment with it. The result was the spawning of a large number of different blockchains with their own consensus algorithms, operating protocols, and applications. Variety is a boon, and users were thrilled to have a wide choice of applications and networks. However, such diversity led to the fragmentation of network space, essentially turning every blockchain into an island nation. This meant that blockchains could not interact or share digital asse