Decentralized finance is one of the most promising and indeed the fastest growing ecosystems within the crypto and blockchain space. Total value locked in DeFi — a measure of the total value of assets committed to the DeFi ecosystem — has been approaching the $40-billion mark this month, which indicates a value increase of around 200 times since February 2019. And 2021 has just started, promising some major developments for the DeFi space.
Related: Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer
DeFi has made a lot of changes in our world. Some argue it has started the shift to real decentralization; from the rise of the Web 3.0 movement to decentralized governance, others see it as the solution to the broken legacy finance and the future of banking.
Despite all the benefits that DeFi offers, there are some problems and challenges that should be addressed. The future success of the ecosystem depends on accurate and secure data that is free from manipulation and thus less vulnerable to exploits, which requires the implementation of quality-control mechanisms. Improving transaction speeds and the peer-to-peer aspect also remainTitle: Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answer
Sourced From: cointelegraph.com/news/where-does-the-future-of-defi-belong-ethereum-or-bitcoin-experts-answer
Published Date: Thu, 04 Mar 2021 13:50:47 +0000