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Decentralized Finance, DeFi for short, is a term used to describe the decentralized services and products made possible with the help of decentralized technology. Example of DeFi includes lending services, decentralized exchanges, marketplaces, stablecoins, derivative platforms and much more. Other entities in the ecosystem include infrastructure platforms, payment providers and custodians.

Decentralized finance is an upgrade of traditional financial systems, which are centralized and as a result of this centralization, prevents a lot of individuals from accessing financial services and contributing to the global economy. The primary advantage of DeFi products is its ability to cater to the unbanked and undocumented, which form the majority of the world’s population. Many Defi entities describe this as being the most salient feature of decentralized systems.

These open source financial initiatives is a key part in the growth of the crypto ecosystem, as several projects have built their services and products on reducing the trust involved in financial services. This is in contrast to “fintech”, which primarily focuses on new emerging systems that are beneficial, but centralized.

The DeFi ecosystem has been steadily growing since the launch of projects during the boom of 2017, and current statistics show the total value locked in the ecosystem to be roughly $471 million. Examples of platforms include the MakerDAO ecosystem, Augur, Bancor and the Kyber Network.

Given that decentralized finance tools is at its optimum with a greater number of users, multiple scaling solutions, such as second layer protocols, are being worked on - including the Lightning Network, which has been growing in usage over the past year. 

In this tag, read more about decentralized finance (DeFi) news, price predictions, opinions and analyses created by users.

Everything You Need TO Know About ETH 2.0 (The Next Evolution of Internet) VIDEO

27 Nov 2020 1 minute read 0 comments Googler

I follow every YouTube channel based on Blockchain that I can, but BitBoy is one of my favorite. He's way more professional than others and he has BitSquad behind his back. Today, a few hours ago he uploaded an amazing video that's useful for every h...

5 altcoins that are outperforming all major cryptocurrencies

27 Nov 2020 2 minute read 5 comments Roberto D.

XRP, Stellar and Cardano are some of the cryptocurrencies driving this rise: are we witnessing the beginning of a new "alt season", or will everything return to normal?   Bitcoin (BTC) broke above $ 19,000 on November 24 thanks to a new bullish momen...

7 Things Crypto Ought Not to Be Thankful for in 2020

27 Nov 2020 1 minute read 0 comments Googler

Robert Stevens, the author from the Decrypt portal in his new article says *In our article, “7 Things Crypto Ought to Be Thankful for in 2020,” Decrypt called crypto traders ungrateful because they forever demand more profits with even greater immedi...

🔥 Fi Token × Latoken || iob DEFY Hedged Pool

26 Nov 2020 1 minute read 1 comment FreedomBuilder

🎁 Total Reward: Receive up to 0.0027 FI ≈ $6 by completing social tasks and answering quiz questions!👥 Receive 0.0009 FI ≈ $2.5 for each referral. 📈 Sign-up on Latoken Exchange and complete KYC with TIER 2 💎 Start Fi Token Telegram Airdrop Bot. 🔶 Air...

Elite Swap (ELT) DeFi Exchange || Decentralized token Swaps.

26 Nov 2020 1 minute read 2 comments FreedomBuilder

    🎁 Total Reward: Receive up to 1200 ELT ≈ $12 for completing a few social Tasks.👥 Referral: 300 ELT ≈ $3 💎 Start Elite Swap Telegram Airdrop Bot. 🔶 Airdrop Terms and conditions:📌 Start Telegram Airdrop Bot.📌 follow their Telegram group & channel....

Investing in Crypto and how it can boost a country's economy

26 Nov 2020 3 minute read 1 comment Espandor

Bitcoin technology has proven itself as trustworthy investment project. Over time since the introduction of Bitcoin some years back, Bitcoin holders have yield a profit of over $10,000 per coin and that is not an hidden fact. Am not gonna stress on...

Ampleforth added to Publish0x

26 Nov 2020 2 minute read 2 comments Mamaecrypto

 Publish0x recently introduced Ampleforth ($AMPL) rewards for both readers and publishers of the platform.   If you follow the blog you probably know that I have been repurposing and monetizing my articles on the Publish0x Platfor...

Binance Smart Chain — An Introduction

26 Nov 2020 4 minute read 6 comments NOWNodes

Originally published in the NOWNodes blog. Binance smart chain became live on its mainnet on 17th September 2020. It took five months for the smart chain to go live since it was announced in April 2020. Since recently we added support to Binance Smar...

CeFi vs DeFi: The Showdown. Which Is Better?

26 Nov 2020 4 minute read 7 comments

Recently in the cryptocurrency world, there’s been a lot of discussion of CeFi vs. DeFi. Many hardcore crypto enthusiasts are pushing for DeFi, while a number of others are pushing for CeFi. So, which one is better? Well that depends on what you are...

PRIME DAO: The catalyst for an adoption engine for Open Finance and Decentralized Finance in a global system.

26 Nov 2020 7 minute read 0 comments Mr. Decentralized

Good morning to all of us here on cryptocurrency space again! This is your awesome blogger Mr. Decentralized that would talk about updates about what is going on in our industry and will give a scope about the other developments in the background as...