DEFI
What is DeFi?
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.
Decentralized Finance, DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but on the blockchain. Whatever traditional services financial institutions provide can be expected to be offered through DeFi. In short, Defi is blockchain-based financial services that traditional financial services map into, creating new services or derivatives stemming from blockchain's unique features. Although we have had concepts like distributed computing and decentralized computing for decades, DeFi is in fact a new concept and an expansion of the application scope of blockchain as infrastructure.
Centralization Caused Most DeFi Hacks of 2021, $1.3B Loss to Users in 2021
Certik says the centralization of operational models cited is one of the major faults amongst protocols that suffered mishaps, causing at least $1.3 billion loss to users last year.
Ethereum Total Liquidity in DeFi Protocols Climbs to $90.7B, Despite Price Slip
The dominance of Ethereum in the DeFi ecosystem continues to gain steam because total value locked (TVL) in this space surged by 14.43% to hit $90.7 billion.
Crypto Crimes Hit All-Time-High in 2021: Chainalysis
Crypto crimes saw a record high number last year in terms of value, blockchain analysis firm Chainalysis said.
Bitcoin Celebrates 13th Birthday as the Cryptocurrency Era Continues to Tick
On January 3, 2009, Bitcoin’s genesis block was mined, setting the ball rolling on what the crypto space would offer.
Decentralized Information Markets Platform Polymarket to Pay Civil Fine of $1.4M, Violating Unregistered Swaps
Decentralized information markets platform Polymarket was imposed a civil fine of $1.4 million by the United States Commodity Futures Trading Commission (CTFC), failing to obtain a proper registration.
Ethereum's Revenue Hit $9.9B in 2021 as ETH Emerges as the Most Searched Project
Ethereum (ETH) scaled the heights in 2021 by generating revenue to the tune of $9.9 billion thanks to a couple of use cases on its network.
Blockchain Ecosystem Suffers Over $9.8B Worth Security Lost in 2021
According to Snowmist, the blockchain industry has been well characterized by cryptocurrency crimes, money laundering, fraud, cases of theft, drug trafficking, and mining crimes all of which occur frequently.
DeFi Growth Outlook for 2021: From $18.71B to $258.58B
According to data from DeFiLlama, the DeFi ecosystem, encompassing the top blockchain networks saw a massive growth surge from $18.71 billion in Total Value Locked (TVL) as of Jan 1, 2021, to $258.58 billion it is pegged at as of today.
NFT-collateralized Loan Platform Arcade Raises $15M in Series A Financing
Focusing on using NFT as loan collateral, Arcade raised US$15 million in Series A financing which was led by Pantera Capital, Castle Island Ventures, and Franklin Templeton Blockchain Fund.
Ethereum’s Median Fee Hit a 4-Month Low, while Address Activity Soaring to a 7-Month High
Ethereum users have a sigh of relief because median fees have dropped to $5.50 per transaction from highs of $34.18 last month.