Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Several people in the DeFi space have been asking the same question for the last few months; what is Compound? In essence, Compound is an Ethereum money market protocol, which allows lenders to provide loans and borrowers to take out loans. Moreover, the reason behind Compound’s spectacular rise in popularity is pretty apparent.
For a long time, people thought that Maker’s lead at the top of the DeFi list of projects was unassailable. However, Compound, seemingly out of nowhere, has since taken the lead and now rules the roost when it comes to DeFi. So, in this article, let’s examine what Compound is and what it does.
Before getting into Compound, however, let’s understand what a DeFi project, or decentralized finance, is. This is especially important seeing as analysts predict that the DeFi space will see huge growth in the coming years.
DeFi or “decentralized finance” is an all-encompassing term that refers to the...