What is Decentralized Finance(DeFi)
Posted by Crypto Publication on December 27th, 2020
Open, permissionless and interlocking, decentralised finance (DeFi) – a monetary system built on public blockchains such as Bitcoin and Ethereum – has grown rapidly in recent years, piquing the interest of investors and technologists across the world.
Here we can know about what is defi and some of the defi platforms.
DeFi can be defined as the “movement that promotes the use of decentralised networks and open source software to create multiple types of financial services and products”. The idea, it says, is to “develop and operate financial decentralised applications (dApps) on top of a transparent and trustless framework”, including permissionless blockchains and other peer-to-peer (P2P) protocols.
Decentralized Finance promises to reestablish blockchain importance in a post-pandemic world. The idea of bringing traditional financial services to the blockchain, and with it opening them up to the general public is a powerful one.
The opportunities brought by DeFi have made projects such as Compound, Aave, Uniswap, Synthetix, and other common knowledge for the crypto world. These are, in some aspects, the most successful and widely recognized projects in the space. Many people know about them, and many use them regularly. But the DeFi revolution is just starting, and there are many more projects that have just begun or are on a low profile, which have the potential of becoming the next big thing. On this list, we will review some of them.
Ocean (OCEAN)
Ocean has been following a journey to full decentralization since its inception several years ago. We’re pleased to announce a key piece of that puzzle: community-led funding in the form of a grants DAO that we call OceanDAO.
Plutus DeFi (PLT)
Integrating Cryptocurrencies into Everyday Lives
Cryptocurrencies have long been associated with the tech-savvy. We want to simplify the processes so even novice users can integrate them into their daily lives. We have mimicked the familiar mobile banking format but for cryptocurrencies, so our users can quickly accustom themselves with the new digital coins.
Akropolis (AKRO)
Akropolis mission is to give people the tools to save, grow and provision for the future safely and without dependence on a geography, a central counterparty, or falling prey to predatorial financial practices of multiple intermediaries.
Kava (KAVA)
Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB, and ATOM to name a few. Kava's Harvest.io application is the world's first decentralized cross-chain money market.
