Bitcoin Has No Real Use For DeFi In Its Current Form
A wave of decentralized finance (DeFi) products, mostly built on Ethereum, has some wondering if Bitcoin could benefit from the ecosystem.In worldwide surveys on Facebook’s Libra, respondents have indicated overwhelming distrust of the digital currency.The decentralized finance (DeFi) ecosystem continues to attract billions of dollars from cryptocurrency enthusiasts. Though the term “decentralized finance” could certainly apply directly to Bitcoin in and of itself, the growth of the DeFi industry lately refers to an umbrella of projects, mostly based on Ethereum smart contracts, that....
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In distinguishing real-world use versus speculative investing, IOG CEO Charles Hoskinson said he derides DeFi in its current state. The comments come as Cardano announced securing a contract with Ethiopia’s Ministry of Education for a blockchain-based ID system. This accomplishment is part of Cardano’s pan-African strategy that intends to improve lives by providing new systems. […]
Blending real-world assets and DeFi is going to shake this whole market to its core. In previous years, we have seen numerous attempts to bring real-world assets to the crypto market. However, none of them has proven to be massively adopted among retail crypto users and traditional financial players.So, why hasn’t real-world asset tokenization become a massive trend?You’ve probably heard how almost anything can be tokenized — securities, art, real estate, to name a few. And there were so many projects that promised to change the way we invest in assets, no matter the type. At the same....
Tokenomics aimed at financing worthless models, rampant hacks, and a lack of real-world utility have played a role in the beleaguered crypto market's decline. Decentralized finance (DeFi) led cryptocurrency’s rapid growth in early 2021, but the crypto market has since plummeted in value. Global markets have played a role, but so has recklessness among developers when it comes to both cybersecurity and (often self-serving) inflationary token models.Too much DeFi has been based on tokens minted from nothing or tokens that finance other tokens at high interest rates, with no part of the....
Decentralized finance protocols and regulatory agencies need to figure out DeFi regulations to enable the niche crypto market to integrate with real-world finance. Rune Christensen, co-founder of DeFi bluechip MakerDAO, says the decentralized finance space is set to move from its current isolated bubble phase towards more integration with the broader financial landscape.Christensen made this known during Tuesday’s plenary session “Behind the Decentralized Finance Hype” at the ongoing Global Technology Governance Summit organized by the World Economic Forum.According to the MakerDAO chief,....
Most enthusiasts will agree that decentralized finance in its current form has severe limitations. Catering to the needs of users outside of the cryptocurrency world remains a harrowing ordeal. Moma protocol aims to change that narrative for the better through customizable Lending Pools. Solving The DeFi Inefficiencies Even though the first generation of DeFi protocols […]