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.
RenVM an open protocol providing access to inter-blockchain liquidity for all decentralized applications publish its current update regarding its ecosystem specially those on May 2021. Month...
Effect Network x pNetwork announced partnership to release the EOS-BSC bridge.
When it comes to bridges, pNetwork is an extremely beneficial partner. Their cross-chain solution allows to...
PancakeSwap Will List $KTN Kattana To Their Syrup Pool And Farm
Once KTN token Farm and Syrup Pool goes live the users will be able to Stake the CAKE to earn KTN.
The Syrup Pool:
Stake CAKE...
Money Blizzard SNOWBANK Vault For $CAKE is Now Live.
Users can Stake their CAKE (single asset) and earn 3 different tokens $GALE, $IBBNB and $XBLZD. How do you stake on Money Blizzard to...
Ape Swap GNANA Staking Pool For SPACE ApeRocket Finance Token Are Now Live!
Users can Stake their GNANA tokens to earn SPACE tokens.
How do you stake on GNANA to earn rewards?
Visit this...
MOBOX released Weekly Community Update #18: Platform Stats, MOMO Token Master to Launch 3rd June, Binance MVB, Binance Africa Hackathon & more.
🔹Platform stats: TVL (Total value...
MXC Exchange launched the 59th Session of “MX DeFi” for Oxygen OXY token and Mining is now LIVE!
Users can stake MX & OXY to earn liquidity yield of OXY. The staking period will...
Crypto.com is supporting the Kyber Network (KNC) Token Migration.
Deposit and Withdrawal Suspension
KNC deposits and withdrawals will be temporarily suspended on 4 June 2021, 02:00...
Kraken is now supporting three new assets: Bancor (BNT), Sushi (SUSHI) and Ankr (ANKR). Deposits for all three assets are available starting now
Trading will begin on May 24 at...
The platform that empowers today’s dApps with seamless privacy and high assurance, Automata Network will be launching on Binance Launchpool. Automata’s $ATA token will be listed on...
Idle released Weekly Beats, newsletter for regular dose of updates, new features & announcements from the team.
🔹Core Beats Reflexer Lab launched a liquidity mining program to...
Meterians long wait is over. Meter_IO recently announce that $MTRG is live on PancakeSwap. Meter users can enjoy opportunities of generating passive income by staking $CAKE tokens to earn...
Interoperable Token Pools & Auctions for the Avalanche Blockchain, Avalaunch introduce Avalaunch Farm. The platform had allocated the first 1 million $XAVA for distribution to its early...
Icarus Finance is a first of its kind decentralized mining protocol which brings Bitcoin and Ethereum hashrate to the Binance Smart Chain, combining it with further DeFi applications....
PancakeSwap has added TUSD TrueUSD to Their Syrup Pool & Farm
Users will now be able to Stake CAKE to earn TUSD.
Stake TUSD-BUSD LP to earn CAKE. How do you stake CAKE to earn TUSD...
Bolt Dollar Launched 2 New Pools For Money Blizzard
Users will now be able to Stake the following LPs to earn BTD on Bolt Dollar
xBLZD–BUSD LP
xBLZD –BNB LP How do you stake on...
Flash loan attacks are a type of DeFi attack where a cyberthief takes out a flash loan (a form of uncollateralized lending) from a lending protocol.
An AMM protocol that incorporates...
Cafe Swap Finance Farming And Staking Pools For Pacoca
Users will now be able to Stake BREW to earn PACOCA tokens.
Stake PACOCA-BNB CAFE LP and earn BREW tokens. How do you stake BREW to...