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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.

Tokenized FIL Tokens Launch For DeFi Use While Filecoin Tops 1B GB Storage

25 Nov 2020 1 minute read 0 comments Googler

Ali Raza, the atuhor from Inside Bitcoins portal in his new article says that *Tokensoft and Anchorage, two crypto infrastructure providers, have teamed up in order to wrap Filecoin’s native FIL token. Through doing so, the decentralized file storage...

Why Chainlink's Oracles are Such a Big Deal?

25 Nov 2020 6 minute read 4 comments DrBreakThru

On September 4, 2017, the groundbreaking Chainlink whitepaper co-written by Steve Ellis, Ari Juels, and Sergey Nazarov was released into the wild.  About 2 years later, On May 30, 2019, Chainlink (LINK) – a decentralized oracle network that reliably...

P2P Insurance Network Cover Protocol Executes Claim for Pickle Finance Hack

25 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Decentralized insurance coverage network Cover Protocol announced on Nov. 24 that its users had successfully agreed to payout a coverage for the Pickle Finance hack that occurred on Nov. 23. Cover Protocol will cover some of the funds from the $20 m...

Harvest Finance: The Easiest On-ramp to DeFi

25 Nov 2020 2 minute read 0 comments Cje95

My experience with DeFi before I used Harvest left a lot to be desired but since I was using Compound Finance though the Coinbase Wallet App.   If anyone was wondering the Coinbase Wallet app is awful. While simple and easy to use somehow the “gas” f...

Why did XRP go up so much?

25 Nov 2020 1 minute read 0 comments Simplify Crypto

In the last 7 days XRP has seen an increase of about 129.98% while Bitcoin has only had 8.37%. But what are the reasons for this rise in the XRP? We believe that the reasons responsible for the rise may be as follows: Spark Tokens Airdrop Spark Toke...

Ampleforth: everything you need to know

25 Nov 2020 8 minute read 1 comment Roberto D.

From today on Publish0x you can earn Amplefoth (AMPL) and it seemed right to explain what this currency is, how it works, the use cases and its vision. In short, sit comfortably because there is a lot to say, but let's not waste any more time and sta...

A Bite of Pie (DAO)

24 Nov 2020 5 minute read 0 comments Block_Enthusiast

The manic summer left a hunger This past summer I learned how impactful high gas prices can be to small positions. At times, parts of my portfolio felt  bricked by costs; not worth it to touch them. In addition, having so many small pools while inter...

Uniswap is punching it out in the Dex arena

24 Nov 2020 1 minute read 0 comments ManuelAR

The Dex arena never gets boring. Uniswap’s supremacy in this sector has made it the undisputed champion. And there is no shortage of challengers vying for a shot at the title. Now, as Uniswap’s position is well established, they opted to cut the UNI...

What Is Microservice Architecture and How Does NULS Integrate It?

24 Nov 2020 3 minute read 0 comments NULS

Microservices represent the next evolutionary leap towards flexible, fast and nimble blockchains with cross-chain capabilities interacting with countless applications. Both Blockchain and microservice architecture are modular and encourage interactio...

Gainers past 24 hours

24 Nov 2020 1 minute read 0 comments nzflyer

Gainers and losers past 24 hours Gainers                                                                                1 Black diamond rating $0.038    38143.28 %      2 Bitcoin god                 $1.90       1347.6 %       3 Pantheon x         ...