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decentralized finance decentralized finance in 2020 defi defi in 2020

Decentralized Finance in 2020 - DeFi Trends to Keep An Eye On

Written By Ivan on Tech

Aug 25, 2020

Despite its recent upswing in popularity, blockchain is still a relatively new technology that can be hard for some people to grasp. Bitcoin is probably the reason why most people know what blockchain is. However, Bitcoin as a currency relies on its vibrant community and underlying blockchain capabilities to keep growing and attracting users. 

Ethereum, on the other hand, is the reason why DeFi is growing at a tremendous rate. Ethereum’s support for smart contracts and the ability to tokenize it makes Ethereum perfect for a financial revolution, and is the reason why Decentralized Finance (DeFi) is hotter in 2020 than ever before. Let’s, therefore, take a look at decentralized finance in 2020 and what it means for the future of blockchain and finance!

How Decentralized Finance Works

Central authorities still largely dominate the traditional financial system. The role of these central authorities is to regulate the system, and act as middlemen between various...

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