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Many people associate such a rapid growth of BTC, with the Facebook announcement of creating their own cryptocurrency.
Well, it is quite possible, and we think that this has become one of the factors.
Well, it is quite possible, and we think that this has become one of the factors.
The Main Features of Facebook’s Libra you can in this article - https://hackernoon.com/the-main-features-of-facebooks-libra-and-how-it-can-impact-the-crypto-industry-f80322a61023
Medium
The Main Features of Facebook’s Libra and How it Can Impact the Crypto Industry
The most discussed topic in crypto industry this week was Facebook’s announcement about the release of its own cryptocurrency.
What is DeFi
DeFi is one of the fastest-growing cryptocurrency segments. Yes, different segments have long been distinguished in crypto space, such as different blockchain protocols, stablecoins, digital collectibles (NFTs, non-fungible tokens), prediction markets, decentralized autonomous organizations (DAOs), and much more.
The idea is simple. If all traditional financial institutions (banks, exchanges) are just software that is controlled by some legal entities, why not make all these institutions on autonomous smart contracts Ethereum or another blockchain?
This is how protocols appeared that allow, without the participation of an intermediary, to trade crypto on decentralized exchanges (Uniswap), lend (Compound), manage monetary policy and issue stablecoins (MakerDAO), rebalance assets (TokenSets), create derivatives (UMA), insure risks (Nexus Mutual) and generally do everything that traditional financial institutions do.
If ICO was about raising capital, then DeFi is about all the other functions of the traditional financial market.
DeFi is one of the fastest-growing cryptocurrency segments. Yes, different segments have long been distinguished in crypto space, such as different blockchain protocols, stablecoins, digital collectibles (NFTs, non-fungible tokens), prediction markets, decentralized autonomous organizations (DAOs), and much more.
The idea is simple. If all traditional financial institutions (banks, exchanges) are just software that is controlled by some legal entities, why not make all these institutions on autonomous smart contracts Ethereum or another blockchain?
This is how protocols appeared that allow, without the participation of an intermediary, to trade crypto on decentralized exchanges (Uniswap), lend (Compound), manage monetary policy and issue stablecoins (MakerDAO), rebalance assets (TokenSets), create derivatives (UMA), insure risks (Nexus Mutual) and generally do everything that traditional financial institutions do.
If ICO was about raising capital, then DeFi is about all the other functions of the traditional financial market.
What is Market Size or DeFi Capitalization? Unlike ICOs, where the market size meant the amount of funds raised, in the case of DeFi, this means (a) the amount of funds that are stored in smart contracts of the respective protocols as collateral, and (b) the cost of voting tokens in the management of protocols.
A good barometer of the DeFi market can be viewed on the DeFiPulse website, which constantly updates the total crypto market capitalization.
A good barometer of the DeFi market can be viewed on the DeFiPulse website, which constantly updates the total crypto market capitalization.