To what can we compare with DeFi?
Not that am so much in need to do comparison or am not compelled to compare. It is just an urge. A feeling to just compare. To what can we compare Decentralized Finance (DeFi).
Firstly we should know what Decentralized Finance (DeFi) is. It is a financial technology based on secure ledgers similar to those used by cryptocurrencies. DeFi empowers individuals with peer to peer digital exchanges. DeFi is opposed to SEC and other such centralized institutions.
DeFi therefore, is comparable to a bird. The bird in question is non other than the Eagle.
- Eagles fly alone at high altitude. Comparatably DeFi also flies high at a high attitude. You cannot beat the flight of DeFi. However hard centralization threatens to pull DeFi down but it still soars high. It is headed to greatness. DeFi is a never-say-die project.
- Stay away from narrow-minded people. DeFi makes it possible for Decentralized Exchange or DEX which enable token exchange without intermediaries. During Traditional Exchange, Central Banks and countries acted as intermediaries and the trader was at their mercy. DeFi is different in a way that the trader is at the helm and in control. Narrow minded people cannot make it here.
- Eagles have vision. In Decentralized Finance one needs to have a vision. Decentralized Finance uses Automated Market Maker (AMM) which uses special mathematics formula to do pricing. This in itself is vision and calls for visionary traders or players in the field.
- Eagles are fearless and never surrender to the size or strength of its prey. Very true indeed. DeFi is quite fearless and does not show any signs or indications to surrender. DeFi is our future and our life. DeFi happens to have a lending alternative known as crypto loan business which helps in providing players with the much needed funds. There is no retreat or surrender here.
- Eagles are tenacious. This is the art of holding firmly to something or attaching itself. Actually DeFi has this character when it comes to staking. This is keeping hold of your tokens in a POS and you are rewarded for the same. There are blockchains based on Proof Of Work (POW) and some based on Proof Of Staking (POS). Those engaged on Proof Of Staking lock some of their tokens in a POS based network. The main aim of locking is giving security to the said network.
- Eagles never eat dead things. DeFi never feeds on dead things too. DeFi has NFTs or Non Fungible Tokens which live forever. They are always alive and never die. NFTs have many uses including identification, digital ownership in art, gaming, collectibles, sports, real estate, media and entertainments.
- Eagles prepare for training. DeFi prepares for training too. One needs to study more in order to perform well we need to train. You cannot earn without learning. Trainings in DeFi is another tool which ensures bidding bye to human error. DeFi is based on machinery or computers which need adequate training.
- Eagles possess vitality. DeFi has the vitality to steer us to Web 3.0 and beyond.
Comparisons are the only way to gauge whether anything is viable. I have proof here that DeFi is our future and life. Let us embrace it.
