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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.

BTC New Highs? Eth2.0 Ready to Launch

24 Nov 2020 3 minute read 0 comments CPix

Data from survey on NFTs: Market Update (Monday 9:30 AM ET) Percent Change (Rounded) Based on Last Monday Open (9:30 AM ET) Bitcoin- $18,563 (+15%) Ether- $598 (+30%) Gold- $1,837 (-4%) DJI Average- 29,332 (-1%) NYSE Composite Index-...

Daily Crypto News - 11/24/20

24 Nov 2020 1 minute read 1 comment Crypto Cartography

DAILY CRYPTO NEWS 1) Biggest news story is $BTC above $19K. Must be said.  2) 2nd biggest news story is Eth2 Launchpad has reached staking threshold (and $ETH above $600). 3) 3rd biggest news story is PICKLE is bein...

Nexo vs Celsius

24 Nov 2020 6 minute read 11 comments Zirbo

The crypto lending industry is becoming more and more competitive. Big defi projects like Compound and Aave have accumulated billions onto their platforms, but those are harder to figure out for crypto newbies. That leaves BlockFi, Celsius, and Nexo,...

Ripple (XRP) Moving Like Bitcoin

24 Nov 2020 1 minute read 0 comments Jw1

Ripple is on bull a bull run :   Ripple (XRP) has been showing Uptrend like Bitcoin (BTC) has shown. Ripple (XRP) is moving quite too speedy and if we see the chart on longer time frames like half an hour time frame, then we can see that Ripple (XRP...

Bringing even more to the Numio solutions!

24 Nov 2020 1 minute read 0 comments PhoenixDAO (PHNX)

As outlined in the latest update from Numio here, PhoenixDAO have been working closely to implement the most advantageous use cases and utilities technically achievable at this stage and we’re all extremely excited (these implementations carry lots...

This DeFi shop on EOS wanna embrace true decentralization

24 Nov 2020 2 minute read 2 comments paragism

DeFi or decentralized finance is happening mainly on Ethereum but many other blockchains are catching up. EOS is one blockchain where DeFi related development is happening with sheer speed. EOS currently has 22 live DeFi projects and some are really...

EOSDT Now Supports ETH For Collateralized Positions!

24 Nov 2020 1 minute read 1 comment Equilibrium

Equilibrium is already compatible with EOS and BTC cryptocurrency for securing a collateralized position in USD-pegged stablecoins. Now we’re opening the door to Ethereum, the most popular cryptocurrency in DeFi, to serve a major population of crypto...

Hello, $pickle holders, this is Clem Fandango here. Can you hear me? The hack was bad, but a $YFI lifejacket is better!

24 Nov 2020 1 minute read 0 comments Crypto_Clem

Just a flash post here Clem Fandago fans. Okay, fan. Hi Grandpappy Fandago.  $Pickle has found a way out of this, erm, pickle it seems. We have a savior folks:      And it wasn't King Co...

UDPATE: 200,000 ETH, 24 Hours. The ETH Degens Did It.

24 Nov 2020 1 minute read 0 comments AlucardLife

As I predicted in this previous article, the Ethereum degenerates flew in at the last minute and saved the launch of Beacon Chain. Thanks, guys, for not fucking up the bull market. You fucks kind of owe me based on all the fees you've taken from me o...

Cryptocurrencies Take Over | The Inevitable

24 Nov 2020 3 minute read 0 comments Hermitworldwide

  As the whole world is about to be taken over by cryptocurrencies, we observe certain authorities still holding cryptocurrencies on ban lists for the morale they don't see in cryptocurrencies not just Bitcoin alone. There are thousands of cryptocur...