What is DeFi? Why is it important, and what are the best examples?
DeFi, short for Decentralized Finance, can be defined as an ecosystem of financial applications operating on the Blockchain. The promise of cryptocurrencies is to make money and payments universal and democratically accessible to anyone, regardless of where they are in the world. The DeFi or Open Finance movement aims to take this concept one step further. Imagine a global and open infrastructure accessible to anyone worldwide with a smartphone and internet connection, providing access to all traditional financial services you use today (deposits, loans, trading, insurance, and much more).
In fact, DeFi is not a new concept; it emerged as a result of individuals and institutions analyzing traditional financial systems for years, identifying problems within those systems, and subsequently taking steps towards solutions. Over the past 2-3 years, Decentralized Finance has become one of the fastest-growing areas in the blockchain and cryptocurrency world, both in terms of the number of users and the value of assets invested. The majority of this growth has been built on the Ethereum blockchain.
As this industry has grown, developments within the sector have also accelerated. Different projects on different blockchains are working on Decentralized Finance (DeFi), and many people interested in this sector find it challenging to keep up with the latest developments.
While there are many opportunities in the industry, malicious actors are also creating their own opportunities in this emerging field. Therefore, caution is necessary, and it’s crucial to gather information from reliable sources about DeFi. Since this field is still in its early stages, even well-intentioned projects may have vulnerabilities. We strive to provide you with the most accurate updates and information about DeFi. You will find what you need to know about DeFi on this page. With the right information, you can make the most informed decisions.
What is DeFi? Why is it important, and what are the best examples?
DeFi, short for Decentralized Finance, can be defined as an ecosystem of financial applications operating on the Blockchain. The promise of cryptocurrencies is to make money and payments universal and democratically accessible to anyone, regardless of where they are in the world. The DeFi or Open Finance movement aims to take this concept one step further. Imagine a global and open infrastructure accessible to anyone worldwide with a smartphone and internet connection, providing access to all traditional financial services you use today (deposits, loans, trading, insurance, and much more).
In fact, DeFi is not a new concept; it emerged as a result of individuals and institutions analyzing traditional financial systems for years, identifying problems within those systems, and subsequently taking steps towards solutions. Over the past 2-3 years, Decentralized Finance has become one of the fastest-growing areas in the blockchain and cryptocurrency world, both in terms of the number of users and the value of assets invested. The majority of this growth has been built on the Ethereum blockchain.
As this industry has grown, developments within the sector have also accelerated. Different projects on different blockchains are working on Decentralized Finance (DeFi), and many people interested in this sector find it challenging to keep up with the latest developments.
While there are many opportunities in the industry, malicious actors are also creating their own opportunities in this emerging field. Therefore, caution is necessary, and it’s crucial to gather information from reliable sources about DeFi. Since this field is still in its early stages, even well-intentioned projects may have vulnerabilities. We strive to provide you with the most accurate updates and information about DeFi. You will find what you need to know about DeFi on this page. With the right information, you can make the most informed decisions.
The belief of whales in DeFi coins, which have been silent this year in the rise of Bitcoin, continues. While the purchases of two whales since yesterday have not gone unnoticed, UNI and AAVE stand out.
While many whales have turned to DeFi coins in recent months, one whale continues to buy AAVE and UNI. This whale, which has made millions of dollars of purchases before, made a total of $4 million in purchases tonight.
DeFi platform Uwu Lend has been hacked once again in a few days. It was reported that the platform, which lost $20 million as a result of the attack two days ago, was attacked by the same hacker, and this time the loss was $3.7 million.
The person or persons who hacked the Poloniex exchange about 6 months ago sent a total of 1100 ETH to the mixer application Tornado Cash early this morning. The hacker, who had not moved the Ether for a long time, thus laundered 3.3 million dollars worth of money.