“Decentralized finance (DeFi) essentially involves a brand-new monetary system being built on public blockchains.” With the advent of blockchain, the concept of DeFi arises from the fact that there are 1.7 billion people do not have the right material or access to financial services. As a result, the wealth generated is not efficiently transferred to the unbanked population. Decentralization, as a concept allows for identical records to be kept in thousands of computers through peer to peer networks, adding to the fact that access can be granted to everyone!
DeFi is one of the hottest topics in the crypto world in 2019. According to the recent findings by dapp.com, DeFi gained tremendous growth in Q3 2019 with a market value of over USD 525 million. 88% of DeFi dApps are built on Ethereum, and MakerDAO and Nest are the two leading DeFi dApps. Finance dApps ranks 2nd in terms of trading volume, and gambling dApps remains its dominance.
Blockchain.News is proud to present the “State of DeFi Survey”! We would love to hear your thoughts on DeFi, as well as its challenges and future prediction by 25 Oct.
Take part in our survey now!