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Why The DeFi Space Could See Huge Growth Over the Coming Years

Written By Ivan on Tech

Jul 05, 2020

One of the many fields of the economy that is ripe for disruption by the blockchain is the finance field. Virtually every part of the finance industry that traditional finance companies operate in is under threat from the blockchain. Over the last few months, the DeFi space market cap has risen dramatically, and this trend is set to continue over the coming years.

What is DeFi?

First of all, what is DeFi? DeFi stands for decentralized finance and refers to the ecosystem of financial applications built on the blockchain. This can be anything from decentralized exchanges to decentralized lending.

Projects such as Kyber Network (KNC) and 0x (ZRX) enable a decentralized and trustless exchange of tokens. Kyber “is an on-chain liquidity protocol that aggregates liquidity from a wide range of reserves, powering instant and secure token exchange in any decentralized application”. Their protocol can then be integrated into other applications such as websites or cryptocurrency...

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