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Berachain (BERA)

What is Berachain?​

Berachain (BERA) is a next-generation blockchain network designed to provide high efficiency, scalability, and interoperability. Built using the innovative Proof-of-Liquidity (PoL) consensus mechanism, Berachain introduces a unique approach to securing its network while incentivizing liquidity providers. The blockchain operates within the Cosmos ecosystem and utilizes Ethereum Virtual Machine (EVM) compatibility, enabling seamless interaction with existing Ethereum-based smart contracts and decentralized applications (dApps).

Here are 5 key points about the Berachain Chain:

  • Unlike traditional Proof-of-Stake (PoS) or Proof-of-Work (PoW) models, Berachain uses a novel PoL mechanism where network validators must stake liquidity provider (LP) tokens to participate in consensus.

  • Developers can deploy Ethereum-compatible smart contracts without modifications, ensuring easy migration from Ethereum to Berachain.

  • Built on the Cosmos SDK, Berachain benefits from fast transaction speeds, low fees, and interoperability with other Cosmos-based chains through the Inter-Blockchain Communication (IBC) protocol.

  • Berachain is designed with a strong focus on decentralized finance (DeFi), providing an ecosystem optimized for liquidity provision, yield farming, and cross-chain financial instruments.

  • Berachain allows for on-chain governance, where token holders can vote on network upgrades and protocol changes.

tip

Learn more about Berachain by reading the Gem Wallet Learn article:
What Is The Berachain Blockchain?

Berachain on Gem Wallet​

Gem Wallet has the following features enabled for Berachain:

  • Store Berachain (BERA) securely.
  • Send and Receive Berachain tokens natively.

BERA is the native utility token of the Berachain network and plays a crucial role in maintaining its ecosystem. The token is used for:

  • Transaction fees: Gas payments for executing smart contracts and network interactions.

  • Staking in the Proof-of-Liquidity mechanism: Users stake liquidity pool tokens to participate in consensus and earn rewards.

  • Governance: BERA holders can vote on network proposals and improvements.

  • DeFi utility: BERA is widely integrated into Berachain’s DeFi ecosystem, allowing liquidity mining, lending, and borrowing.

Berachain on GemWallet Berachain on GemWallet 2

What are ERC20 tokens on Berachain?​

  • ERC20 tokens on the Berachain blockchain are tokens that adhere to the ERC20 standard but are deployed and operate within the Berachain ecosystem.
  • These tokens retain the same properties and functionalities as ERC20 tokens on Ethereum, thanks to Berachain's compatibility with the Ethereum Virtual Machine (EVM).
  • Transactions involving ERC20 tokens on Berachain incur significantly lower fees compared to those on the Ethereum network.

How to Get Berachain (BERA)?​

Here are some ways to acquire some Berachain (BERA):

  • Buy Berachain (BERA) directly on the Gem Wallet app.
  • Receive Berachain (BERA) with the unique Berachain address on the Gem Wallet app.

Enable Berachain on GemWallet Receive Berachain on GemWallet

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  • Manually enable Berachain by tapping on the Manage Token List.
  • Send only Berachain (BERA) on the address.

Transaction Fees on Berachain​

The fees on Berachain are summarized as follows:

  • Transaction fees on Berachain are dynamically adjusted based on network demand, ensuring fair and efficient pricing.

  • Leveraging the Cosmos SDK, Berachain benefits from significantly lower transaction fees compared to Ethereum, making it ideal for DeFi applications and high-frequency trading.

  • Berachain (BERA) is the token used for gas fees on Berachain Network.

Send Berachain on GemWallet Berachain Fees on GemWallet

How to Check Berachain (BERA) Balance?​

Gem Wallet app connects to the Berachain Network to show the BERA balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on BeraScan.

View BERA Balance Screen BERA Transaction Screen

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BeraScan is the default Berachain explorer of Gem Wallet. You can manually check balances and transactions by going to BeraScan and search for your BERA address.

View Balance on Abscan View Transaction on Abscan

Why Choose Gem Wallet for Berachain?​

  • Self-Custody & Security: Gem Wallet is a self-custody wallet, meaning users have full control over their private keys and assets without relying on third parties.

  • Seamless EVM Compatibility: With native support for EVM-based chains like Berachain, Gem Wallet allows users to interact with Berachain’s DeFi ecosystem, execute smart contracts, and manage tokens effortlessly.

  • Cross-Chain Asset Management: Gem Wallet supports multiple blockchains, including those within the Cosmos ecosystem, making it an ideal choice for users engaging in cross-chain transactions and DeFi activities.

Conclusion

Berachain is a groundbreaking blockchain that redefines how network security and liquidity interact through its Proof-of-Liquidity consensus. With EVM compatibility, Cosmos interoperability, and a DeFi-focused ecosystem, it has the potential to be a major player in the evolving blockchain landscape. Whether you’re a developer, liquidity provider, or DeFi enthusiast, Berachain offers innovative solutions and new opportunities in the decentralized finance space.