- Safe today announced its vision for Safenet, a blockchain transaction processor 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 diverse blockchain ecosystems.
Safe Ecosystem Foundation, known for its account abstraction work, introduced Safenet, a decentralized transaction processor network aimed at solving severe bottlenecks in DeFi scaling. With this ambitious project, Safe aims to pave the way for the $100 trillion global economy to move on-chain.
Safenet promises smooth blockchain transactions
Safenet promises to solve a pressing problem in DeFi: liquidity fragmentation. As layer 2 solutions from companies like Coinbase, Sony, and Uniswap strengthen blockchain adoption, they also introduce complexity. Isolated ecosystems, multiple wallets, and connectivity requirements hinder user experience and liquidity flow.
Already established as a leading provider of smart account infrastructure, Safe sees Safenet as a game changer. Leveraging features such as multi-signature functionality, private key recovery, and email login for self-custodial wallets, Safe plans to enable instant cross-chain transactions with guaranteed execution, effectively eliminating obstacles caused by fragmented liquidity and cumbersome processes. .
“Safenet is not yet another Layer 2. It is a transaction processing network that redefines blockchain interactions,” said Lukas Schor, co-founder of Safe. “Our vision is to solve liquidity fragmentation and create a seamless, secure, and lightning-fast experience for all blockchain interactions.”
Inspired by Visa and built for DeFi
Inspired by VisaNet, the global payments network that powers Visa’s extensive financial ecosystem, Safenet is designed as a decentralized response to the blockchain space.
Its architecture relies on the Safenet processor, which ensures execution guarantees ranging from strong security to fast transaction speeds.
These processors are supported by the Safenet Liquidity Network, which leverages decentralized finance (DeFi) fundamentals such as decentralized exchanges (DEXs), lending marketplaces, and other liquidity pools.
This approach allows Safenet to function as an integration layer, allowing users to transact across a variety of blockchain networks without the need for multiple accounts or technical know-how.
The next step in on-chain economic activity
With approximately 10% of Ethereum transfers already running through Safe accounts, the platform is uniquely positioned to drive on-chain economic activity. Safenet aims to expand this impact by enabling seamless cross-chain interactions and establish itself as a critical infrastructure layer for DeFi’s next phase of growth.
Safenet is scheduled to launch in the first quarter of 2025.
Read: Secure and Fundamental Collaboration to Drive Smart Account Adoption on Ethereum
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