Defi News
What is DeFi?
DeFi, or decentralized finance, is one of the biggest things in the blockchain and crypto industry right now. And it’s easy to see why: DeFi provides a variety of financial services that use blockchain technology to cut out middlemen and reduce costs.
How does DeFi work?
Decentralized finance is a new approach to the financial industry and banking. It uses blockchain technology, or what some people call cryptocurrency, and applications called dApps. In this system, transactions are recorded on a blockchain or a ledger of transactions. The secure ledger creates a record that cannot be altered or hacked by third parties and allows multiple users to verify the transactions through consensus.
The chain is a structure that links together the blocks of information it holds. Each block in the chain can hold a certain amount of data and contains an encrypted hash link to the previous block. The data contained in each block cannot be changed or altered, because once a block is completed it cannot be changed and the following blocks are all dependent on its information. This technology provides secure transactions through these permanent links and breaks down data to a manageable size by breaking it into pieces.
Pros of DeFi
The DeFi movement aims at introducing various benefits for customers and investors. Some of the notable advantages of DeFi would include the destruction of negotiators alongside centralized control. With these, one gains more transparency and control, whilst obtaining a decentralized network wherein all entities are granted access to financial services.
DeFi, which is also referred to as decentralized finance and dApp development, is the abstract of blockchain technology, a concept that has developed over time to address issues such as the lack of trust between users. DeFi would allow the creation of decentralized platforms that are designed to help in creating investment opportunities on a sustainable basis.
🔹Convenience
🔹 Security
🔹Autonomy
🔹 Profitability
Cons of Decentralized Finance
While the benefits of DeFi are many, it is important to get a neutral opinion about its cons and drawbacks as well. The majority of problems associated with today’s DeFi projects are generally linked to blockchain and other related technologies. Blockchain’s scalability issues have caused headwinds for the implementation of smart contracts in specific industries like supply chain management. On the other hand, blockchain’s security concerns have also dissuaded many investors from supporting DeFi startups
🔹Limited integration
🔹Poor user experience
🔹Lack of oversight
🔹Volatility and risk
The Future of DeFi
Decentralized finance is growing at a rapid pace with no signs of slowing down. But while the technology behind this innovation is truly fascinating, there are still many aspects lacking when it comes to a complete ecosystem. Current laws were crafted based on the idea of separate financial jurisdictions, each with its own set of laws and rules.
As demand for DeFi grows, concerns arise over who is responsible for investigating financial crimes that occur across borders. Who would enforce the regulations, and how would they enforce them? Other concerns include system stability, energy requirements, carbon footprint and hardware failures.
Solv Protocol announced that Solv Vouchers is live on Ethereum Mainnet today.
Dozens of outstanding projects including DODO, Bounce Finance, Parsiq, Saffron Finance, Naos Finance and others...
New partnership between Oddz and Alpaca Finance
This partnership with Alpaca Finance will allow users to open leveraged yield farming positions up to 2.0x on PancakeSwap’s ODDZ-BNB pair,...
ForTube has obtained a Solana Project Grant and officially begun participation in the Solana ecosystem development competition.
In order to promote the growth of its ecosystem, Solana...
Olive Cash Will List Charix To Their Farm And Garden Olive Pool On Binance Smart Chain. The Olive Garden CHARIX Pool:
Stake OLIVE tokens, to earn CHARIX tokens!
Total...
UMA is scaling to Polygon and laying the groundwork to support multiple Ethereum Virtual Machine (EVM) compatible scaling solutions.
Over the past few weeks, the team has been hard at work...
Kyber Network & Polygon announced partnership to enhance DeFi liquidity.
Following the approval of KIP-9 by KyberDAO, they are excited to share that the Kyber DMM (Dynamic Market Maker),...
Krystal has now brought all your beloved DeFi services from your mobile to your desktop & launched Krystal Web.
On a single desktop platform, you can now enjoy token swapping, earn...
Oxen introduced article Unweaving a tangled web: Decentralising the ownership and infrastructure of the web.
Who owns the internet? There isn’t an obvious answer to this question. The...
Eleven Finance is a platform empowering high APY vaults in the Binance Smart Chain ecosystem. The platform is focus on being fast moving and its community will offer a dynamic and broad...
MISO stands for Minimal Initial SushiSwap Offering, Sushi’s newest product to rise from a governance proposal is, aptly named, token launchpad platform. Sushiswap is committed to bring...
Synapse Network announced integration with Chainlink to enhance the functionality of cross-chain launchpad, such as Chainlink VRF to fairly select participants in IDO launches, Chainlink...
 Decentralized infrastructure for cross chain interactions between network Umee Finance heartily announced that they have raised $6.3M funds from private seed funding round. The Umee...
ChainSwap is joining forces with Impossible Finance — innovative DeFi platform that creates inclusive financial instruments for everyone. ChainSwap will become the cross-chain bridge...
Rocket Protocol has announced an upgrade to Rangers Protocol while completing a full set of brand renovations, including official website upgrades and logotype and VI design updates. At the...
In order to celebrate first (half) birthday, PolkaStarter is launching the INAUGURAL Polkastarter Meme Competition.
Here is how to participate:
To enter the Polkastarter Meme Competition,...
Binance Staking has launched a new high-yield activity.
Stake your NEO and VET to earn GAS and VTHO with up to 8.79% APY.
Locked Staking Format: First-come, first-served basis.
Interest...
Keep announced that the KEANU rc0 proposal has passed in both the Keep and NuCypher communities.
KEANU is the codename for the unprecedented collaborative endeavor between Keep Network and...
Olive Cash Will List Little Rabbit To Their Farm And Garden Olive Pool On Binance Smart Chain.
How do you stake OLIVE to earn LTRBT rewards?
Visit this...