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.
AlgoCellar, a comprehensive asset management protocol, and Humble DeFi, an Algorand native project, announced a strategic partnership. As a part of this partnership, AlgoCellar and Humble...
Silo Finance integrates Chainlink Price Feeds on Ethereum mainnet to help secure pricing on isolated lending markets. By integrating the industry-leading decentralized oracle network, Silo...
Eclipse Pad announced Eclipse pad’s partnership and integration with cross-chain swap and liquidity routing module Squid. Squid is a cross-chain swap and liquidity routing module built on...
BiswapDEX partners with IguVerse a GameFi App that redefines the concept of NFT using AI / ML technologies. IguVerse is creating a pet-centric Play to Earn social-network game. It’s a...
Meter ecosystem update represents how Meter Network grows its project constantly. At Meter Foundation, its key focus is Meter ecosystem growth and ensuring critical infrastructure support to...
ETHA Lend is now integrated into the Safe (formerly Gnosis Safe) Ecosystem Environment on two major chains, Polygon and Avalanche.
Multi-sig wallets operate with multi-signature addresses,...
“Cool Cats FC” Collection Launch on Ethereum Blockchain by Cool Cats Group, Animoca Brands, and OneFootball Labs.
The collection offers holders an exciting opportunity to become part...
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Witnet oracle is securely providing price feeds, randomness, and GraphQL feeds to Dogechain’s Polygon edge chain.
Because Witnet is a layer one, the incentive of the network was able to be...
Finoa Partnership With Meta Pool
Finoa partnership with Meta Pool, the leading liquid staking solution built on NEAR, is now live. The integration set to allow investors to earn rewards on...
Berry Data Partnered With veDAO
Berry Data partnered with veDAO and officially joined veDAO. veDAO is a decentralized investing and financing platform led by DAO, a platform that belongs to...
Resonate Partnership with Rage Trade
The Resonate are Overjoyed to announce the newest deployment Resonate Partnership With Rage Trade.
What are they building with Rage Trade?
They’re...
FibSwap Integrates Chainlink Automation To Help Automate Asset Distribution in Staking and Yield Farming Pools FibSwap integrates Chainlink Automation live on Polygon mainnet. They are...
Docomo partners with Astar to promote Web3. Based on the basic agreement, the two companies will launch a project to solve social issues utilizing the concept of the decentralized autonomous...
Meson partners with OKC Network an EVM-compatible L1 built on Cosmos with a focus on true interoperability (IBC) and maximized performance, and has officially added Meson Network as an...
Polkamarkets Developers Page Release enables anyone to deploy decentralized Prediction Markets with the Polkamarkets Protocol.
It enables to create decentralized prediction marketplaces...
Avascan Partners With Staking Rewards
Avascan Partners With Staking Rewards. Staking Rewards uses the Avascan API to get reliable access to Avalanche network data. As part of our ongoing...
DForce Community October Update covering Tinnetwork supports dForce on BSC, Ethereum, Polygon, Arbitrum Optimism, Kava & more.
In October, dForce recorded a TVL of $197.7m, with 60.2%...