What is DeFi (Decentralized Finance)?
Posted by john smith on December 24th, 2020
DeFi- An Explanation
Cryptocurrencies are evolving as the digital currencies and money market is ever shifting with new hopes to attain blockchain’s decentralized finance in true sense.
Recently, countries are pushing forward for the Central Bank Digital Currencies CBDC but cryptonauts are experimenting with the next money market with DeFi protocol. Antlia chain team is developing cross chain scalable blockchain for next generation decentralisation to overcome challenges of blockchain.
DeFi- A cryptocurrency revolution?
Cryptonauts are calling DeFi as the cryptocurrency 2.0. The DeFi ecosystem is rampaging with hundreds of projects launching with more than .32 billion in assets till the third week of November 2020 as reported by DeFiPulse. Last year, the statistics were just over 276 million as reported by DeFi Pulse. But what exactly is DeFi?
Coming to the formal definition of DeFi, it is an abbreviation of much circulated phrase “Decentralized finance” that acts as an umbrella for the financial technologies such as digital assets, network of integrated protocols & smart contracts, and a vast amount of the decentralized functions and decentralized applications (DApps). Something more exciting about DeFi is the fact that it is not merely just some cryptocurrencies people are trying to buy to make quick bucks. Instead, it is shifting the financial paradigm by integrating the traditional finance functions such as lending to serve real businesses with the introduction of yearly interests.
About the Authorjohn smith
Joined: December 24th, 2020
Articles Posted: 1
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