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.
PlatON has become the 10th chain integrated in Relation, marking a big step forward multi-chain social graph expansion.
Relation has foreseen the integration of PlatON will not only extend...
Dmail partners with Chainlink to integrate Price Feeds to help display accurate Dmail Domain Prices in the dApp’s front end.
By integrating the industry-leading decentralized oracle...
GuildFi announced partnership with BORANETWORK, an affiliate of Kakao Games to expand reach in onboarding gamers to the blockchain.
With this partnership, GuildFi officially joins the BORA...
Kyberswap Elastic liquidity mining with Polygon Network. This first phase of this initiative is set to bring liquidity providers over 120,000 KNC in liquidity mining rewards, with more...
SillySheep announced the strategic cooperation with DEGO Finance, a cross-chain NFT+DeFi protocol & infrastructure.
Through this cooperation, the two parties will work closely with each...
Whirlpools Rotation #12: September 22nd — October 6th A dozen new Whirlpools including three Double-Dips are opening on Orca! Whirlpools Rotation #12 Duration: Thursday Sept 22, 2022...
Unmarshal Receives Grants from Klaytn to provide robust, reliable data infrastructure services to builders and developers on Klaytn.
Unmarshal offers infrastructure support to Klaytn....
Alameda Research launches Borrower Pool on Clearpool
Alameda Research borrower pool on Clearpool, the leading DeFi marketplace for uncollateralized institutional capital.
The Alameda pool...
Resonate Partnership with SpiritSwap
They are excited to announce that Resonate Partnership With SpiritSwap.
What are they doing together
SpiritSwap has committed to deploying $10,000 worth...
Introducing the Volt App a rebranded version of the Fuse Cash app will take place in the Fuse and Voltage ecosystems.
The majority of new DeFi users struggle with the working principles of...
SoulsOfMeta announced partnership with MetaShooter, the first decentralized blockchain-based hunting metaverse.
They welcome the MetaShooter Community to be part of upcoming Cross-Game Quest...
Waves integrate with Allbridge. The partnership will see the integration of Waves with all of Allbridge’s 15 supported blockchains, including Solana, Binance Smart Chain, and Ethereum.
The...
BNB Chain introduced AvengerDAO a unique community-run security infrastructure project designed to protect users on BNB Chain from possible exploits, scams, and malicious actors.
AvengerDAO...
SynFutures V2 is going live on mainnet at the end of the month & users can now sign up for early access to Closed Alpha. V2 has been in testnet for the last several months. During this...
TARS partners with Bluewheel Mining Club to bring in their expertise and more augmentation in the world of NFTs which shall be beneficial for both parties. TARS is a Web3 aggregation...
Thales expands to Arbitrum with Chainlink. Thales is a protocol and a platform. Named after the famous Ancient Greek philosopher, where you can participate in different positional markets...
Zebec has officially announced the strategic partnership with Crossmint — the easiest platform to buy NFTs.
Zebec is looking forward to providing Crossmint with newly announced Zebec Debit...
Degis introduced Weekly Summary Recap and questionnaire where they will select 20 Degisons to win 30$DEG reward each.
Highlight of this week
Protocol Protection is the next-generation...