Bahamut has shifted to a new consensus mechanism to boost scalability and prepare the ecosystem for further growth. A set of consumer-focused tools help users to ease their journey into Web3, while Bahamut offers grants for developers building on their blockchain.
In April this year, Bahamut announced the rigorous change to transition to a Proof-of-Stake and Activity (PoSA) consensus mechanism. This means that validator rewards are tied to smart contract activity, therefore encouraging active participation and ecosystem growth. For comparison, regular Proof-of-Stake consensus models solely rely on token staking.
With these changes, Bahamut wants to create a fairer ecosystem. Moreover, as an L1 network, PoSA improves scalability and security, while maintaining the decentralized nature of a blockchain network. These network changes ultimately need to lead to fostering institutional and developer adoption.
The renewed version of Bahamut launched on May 3 with the Sahara mainnet, which comes with two layers. Caravan is the execution layer, while Bedouin serves as a consensus layer. Obviously, all dapps and most user actions happen on the execution layer of the network.
Yo!
Bahamut has several new key products on the market, and one that stands out is YoPhone. This messenger app offers features seen in WhatsApp, but also allows developers to deploy their own applications within that environment.
In addition, there’s YoHealth. This fitness, walking and move-to-earn app rewards users for their daily activity. Collected points can then be exchanged for crypto or other prizes coming from partners.
The latest application to join the ranks is YoBlog, a platform for content creators which comes with a soon-to-launch incentive program as well.
However, for Web3 users YoWallet is probably the most important application. This wallet for Android and iOS allows anybody to directly connect with various dapps building on Bahamut, or on Ethereum. From within the wallet you can even directly swap tokens, making things much easier for beginners.
Foundation of dapps for further growth
Decentralized applications on Bahamut are written in Solidity, the same programming language used for Ethereum and other EVM chains. Currently the Bahamut ecosystem seems to have a solid foundation of DeFi dapps, ready to embrace a future with RWA assets, tokenization and other onchain applications.
We’ve cherry picked some of the community favorites:
SilkSwap
A decentralized exchange native to Bahamut
Rubic
A DEX aggregator offering users the ability to trade across different exchanges at the best rates
8Legends
The leading NFT marketplace for the Bahamut ecosystem
Lolik
Liquid staking protocol on the Bahamut blockchain
Mutuari
Lending protocol to borrow and lend crypto assets
Developer incentives
Not only is Bahamut now easier to work with for developers, but the foundation also offers the Bahamut Grants Program. With this program they mean to advance decentralization on the blockchain, by also providing tools and apps that can have a business or social impact. It’s important for Bahamut to promote Web3 adoption through education and community initiatives.
At the time of writing, Bahamut has initiated so-called Brawl categories. Here developers need to battle to develop a killer app that stands out in certain categories. For example, Bahamut is putting its money behind a decentralized betting game, and the introduction of the Bahamut Name Service, also known as blockchain domain names, or user account names.
The biggest grants available are $50,000 up to $100,000. Especially on these bigger grants, the process will be based on milestones. Bahamut asks applicants to share ideas about possible milestones for their projects.
Closing words
Bahamut’s transition to the Proof-of-Stake and Activity (PoSA) consensus mechanism and the launch of the Sahara mainnet mark a pivotal step toward scalability, security, and broader adoption. By incentivizing active participation through validator rewards tied to smart contract activity and fostering developer innovation via the Bahamut Grants Program, the ecosystem is poised for growth.
At the same time, consumers are welcomed with easy to use wallet services and other applications. It’s clear that Bahamut is building a robust foundation for Web3 users, developers, and institutions, preparing the chain to make a real impact.
