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The bZx Protocol is a Ethereum-based DeFi lending protocol which users can borrow, lend, and margin trade without relying on third parties. In the past, margin traders had to use centralized exchanges (CEXs). And while decentralized exchanges (DEXs) can have vulnerabilities, CEXs have many weak points that can be exploited.
These potential CEX weak points include such things as hacks, looming regulation, insider impropriety, and just plain mismanagement of funds by people in positions of trust. As such, the bZx Protocol, among other things, seeks to offer margin trading in a truly decentralized fashion.
The bZx Protocol is just one of countless DeFi applications out there. If you want to learn more about the world of decentralized finance, cryptocurrencies or blockchain technology use cases in general, you should check out Ivan on Tech Academy! Ivan on Tech Academy is one of the largest online blockchain education platforms, and offers a wealth of crypto courses and in-depth...