Ever since John Maynard Keynes laid the foundation for modern financial markets, investors have primarily held positions in stocks, bonds, and cash. Modern economic history has examples of traditional investors who made it big by investing in regular asset classes.
But the primary problem associated with these fiat-based investments and financial models is their inherent centralization, which has led to high inequality in the distribution of wealth, and profits. You may have had to make do with the short end of the stick—fortunately, Bitcoin decentralized currency settlements. However, the DeFi (decentralized finance) market addressed the gnawing disparity in financial market democratization with smart-contract-based financial instruments. Now, one can lend, borrow, invest and trade in an algorithm-based open market that runs without intermediaries.
The DeFi market has reduced accessibility barriers for various financial tools and has experienced exponential growth over the past year. What? You didn’t know? Well, maybe it’s time.
The DeFi trend essentially began with Ethereum-based protocols — Synthetix and MakerDAO. What these decentralized derivatives and lending projects started has now transformed into an ecosystem with close to a $50-billion valuation.
Yes! That’s correct, and the above graph is a testimony of the same.
However, it wasn’t all that flowery in the beginning. The phase from 2017 to Q1 2020 was pretty slow in growth. The DeFi market took off in earnest only from June last year and has not looked back. You would wonder what spurred this massive growth of a seemingly nascent space.
Well, COVID-19 happened, and along with it occurred a 2008-like financial catastrophe (more enormous in proportion, to be precise) that took down traditional markets, businesses, and economies of entire nations.
At a time when people saw the value of their earnings and savings in bank accounts depreciate incessantly, the burgeoning DeFi space provided limitless opportunities to leverage a variety of open-source programmable financial protocols to make a lot of money. The video below will explain how.
Whether leveraging DeFi/decentralized exchanges (DEXs) to stake tokens in various yield farming or liquidity mining contracts, flash loans or lending crypto to earn interest, DeFi is an instant global portal for investors to erase the losses incurred from participating in traditional markets.
Still wondering why? The entry barrier is way too low, and one doesn’t need to have a tonne of cash to get started. Thanks to the meticulously programmed smart contracts in protocols like Compound Finance, Balancer, Aave, etc., all transactions happen in real-time without third-party interference.
By now, you must have started getting second thoughts about staying invested in traditional markets. If not, here’s something that will force you to consider your options.
Even with bitcoin price surpassing its previous all-time high, 2020 was arguably the year of DeFi. Massive adoption of decentralized apps (dApps) for accessing various cryptocurrency-based financial markets points out that the future potential for DeFi is extremely promising, and this is just the beginning.
2021 is shaping up to be the year in which the decentralized finance trend will snowball into something much more significant and transform the world of finance as we know it today.
Scaling Solutions and Network Bridges Will Fine Tune DeFi for Mass Adoption
Currently, the network is undergoing an upgrade phase to Ethereum 2.0. Upon the complete shift from Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake, Ethereum’s throughput and security will shoot up, and massive, full-fledged adoption will happen in no time.
Until then, Layer 2 solutions will help transfer the dApp load from the main Ethereum chain to numerous auxiliary chains that are fast and inexpensive to operate. This will happen via rollups.
Rollups are a kind of Layer 2 solution that allows bundling of transactions off-chain. These bundled transactions can then be submitted to the leading Ethereum network in batches, enabling it to scale 200 times more transactions than before, essentially benefiting DeFi market participants.
Apart from Rollups, it will also be possible to scale Ethereum through multiple and technically sustainable blockchain bridges. Through bridges, DeFi users would have the option of accessing liquidity across multiple blockchain networks along with their functionalities.
**The NFT Boom Is Here to Stay **
The idea surrounding tokenization of unique artworks, video moments, or photographs, or for that matter, any real-world item, has quickly found its way into mainstream media, creative, and sports circles.
NFTs will only keep gaining more popularity as they facilitate the proof of authenticity and ownership of digital art, in-game items, and other digital collectibles. NFT marketplaces will flourish left, right and center as they enable people to buy and sell all kinds of unique digital tokens using ETH (Ethereum’s native cryptocurrency), BNBand stablecoins.
The NFT market has already shot past $500 million, and the day isn’t far when the figure will touch $1 billion. Just so you know, the DeFi market has already crossed paths with NFTs with NFTfi and Rocket, NFTs can now be used as collateral for peer-to-peer loans. This will enable NFT holders to treat their digital collectibles like any other monetized asset. Indeed this isn’t possible in the world of traditional finance.
It is said that ignorance is bliss, but after reading all of the above, blissful ignorance of the opportunity that the DeFi market is offering will surely not help you win as an investor since it is just not some other market. DeFi has set in motion the fundamental restructuring process of finance itself. It is not a good idea to ignore a good revolution. Even if the risk is high, the rewards are much higher.
There are some great tools and platforms that you can leverage to get involved. One such tool is a DeFi wallet. Options are myriad. However, only a few can allow you to explore the entire world of DeFi. Eidoo is a DeFi wallet that doubles up as an excellent crypto asset management platform.
Also, pNetwork’s native token $PNT is well-integrated within the Eidoo ecosystem. It can be said the token is at the core of the Eidoo-pNetwork integration. $PNT provides access to various services, such as the eidooCARD, its cashback program, and the Atomic Swap feature.
As for Eidoo wallet, it boasts of numerous features such as:
Only a few past events have brought radical and irreversible changes in our lives. The birth of the Internet, cellphone, fintech, e-commerce, social media were some of them. People who got involved early (per the curve below) have found themselves on a green, pasture-laden side of their life.
The inception of the DeFi market is one such watershed event that demands mass participation for the sake of freeing up finance itself for those who are left out by so-called systems built by centralized institutions. If you are looking to be a part of an actual financial inclusion movement indeed, DeFi is your best bet.
Are you ready to participate?
#crypto #cryptocurrency #blockchain #cryptoassetmanagement #defiwallet #cryptowallet
DeFi projects are changing the way we’re interacting with digital funds. We’re taking real money and transforming them into digital assets that can be used in blockchain-powered applications. Anyway, as much as we want to think that the cryptocurrency world is one that is separated from the actual real-world, it is not. Otherwise, why are you checking the USD price of your tokens?
We are changing the way we are interacting with each other financially, but we are not changing the way we are interacting with the world. Real-world events are influencing our lives and our digital funds. However, blockchain seems to have its own peace. Yes, the price of a token is going up or down. But one ETH will always be one ETH on its blockchain. A block on the blockchain doesn’t know the time. It’s just a block with a number. But blockchain blocks are generated faster or slower based on the external world miners activity.
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Big Data is increasingly growing in scope in India, affecting the way industries function as well as boosting economies in its wake. Regardless of the size of an organisation, Big Data helps to make better organisational decisions and thereby brings order to the proceedings, making the world a more habitable place in its turn. Especially the transformations happened in Finance and Insurance Industry is tremendous.
At some point in the past, this was not the reality. Data was not always this “Big”. Only large-scale corporations had access to data then because only they could afford the technology that could process this data. In any case, their requirement was for a data analytics system that could take care of massive amounts of data, so they had hardly any choice in the matter.
Since that time, data has evolved at a terribly fast rate, allowing even smaller organisations to make use of the data they gather – all thanks to the internet and cloud technology. With big data cloud solutions, since they offer remote access to data using just the internet, there no longer remains any need for elaborate setups or data experts (who are not easy to acquire), thus saving these small organisations a fortune in internal spending.
The nuances that come with Big Data can now be handled just as easily by organisations that are intent on leveraging the value that it can bring. Moving beyond a simple IT Trend – as these things come and go, but mostly go, without being sustainable for development – Big Data has forged itself into the veins of the tech world, becoming one of its most prized assets.
And even as we write this, we are aware that Big Data is not one monolithic thing. It grows and changes to meet the demands of the various industries that it is a part of, seeking to solve its problems.
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DeFi has been the leading narrative in the crypto space in 2020 with its pulsating innovation and stellar growth. Not only has the entire concept of financial services been turned on its head but we’ve also witnessed some of the speediest development in tech of all time. In the savage unforgiving decentralized landscape, competition is fierce and protocols are required to iterate almost daily to survive.
All this growth and amplification of choices for investors has brought with it many gains beyond the 1,000%+ weekly ones. We’ve had the privilege of seeing how developers are pushing the edge of this fascinating technology and bringing real-world solutions to life.
Of course, as with all areas in any nascent space, some teething trouble has also arisen. Investors attracted by overnight wealth myths clashed with unscrupulous actors just waiting to scam them. Then we’ve had technical issues with smart contracts, oracles, and a lack of auditing.
Yet despite the early days of DeFi and the ups and downs, the fundamentals are growing stronger, the ecosystem broadening, and the value locked in its protocols continuing to climb, currently standing at over $11 billion. But while DeFi has been the most deserving focus of our attention this year, it’s not the only area where innovations are happening.
Non-Fungible Tokens (NFTs) otherwise known as crypto-collectibles have also seen tremendous growth this year. Made famous by the unforgettable CryptoKitties back in 2017 when the popular collectible cat platform clogged the Ethereum network–and went on to sell its most sought-after collectible for $170,000–NFTs had slipped off many people’s radars. Yet, their use cases are expanding at a rapid pace, with more than $8 million traded volume in the last month.
That might be small fry compared to the money changing hands in other areas of blockchain, but we’re talking about digital collectibles like in-game items, limited-edition player cards, and online pets. And we’re even beginning to see NFTs merge with DeFi to offer liquidity mining and incentivize users with provably rare or digitally unique items, such as the winners of the OKEx User Voting event, MEME, and GHST.
Beyond entertainment, such as creative memes and sport player cards, the technology behind NFTs has explosive potential. The creation of rare and unique items that can’t be destroyed, replicated, or forged, and that come with an immutable history can be used in the tokenization of fine art, precious jewelry, and even real estate as a way of authenticating ownership and facilitating the transfer of ownership.
Great developments have been made that will make navigating the web and storing data a safer and more secure experience for all while enabling us to access faster speeds and tap into idle computational power across decentralized networks.
In fact, the area of decentralized data storage has already seen some really impressive players and promising projects like STORJ, GOLEM, and MAIDSAFE. And, with the Filecoin mainnet launching this week, it will be interesting to see how far–and how fast–we move into the decentralized web.
Why is it so important? Because it will allow us to work in ways that we were previously unable with greater speed and decreased cost. It also creates a fair decentralized ecosystem in which people connected to it are paid for providing their free computer space. Golem as a “supercomputer” can allow network participants to make faster and greater advancements in the fields of AI, machine learning, and so much more.
Decentralized cloud storage made possible by projects like Storj Network and Filecoin will allow us to circumvent central actors such as Amazon Web Services (AWS) for a faster, safer, and more affordable storage alternative that cannot be closed down or censored.
At OKEx, we’re proud to be pioneers in such early-stage technology and its continued expansion. Not only do we provide support for key projects in the areas of DeFi, NFT, and decentralized data storage, but we also iterate and create, BUIDL, and experiment with the technology through high-quality cutting edge products like our decentralized public blockchain OKEx Chain and our accelerator program that allows for liquidity mining, OKEx Jumpstart.
#decentralized-finance #decentralization #nfts #decentralized-web #defi #defi-top-story #defi-and-traditional-finance #defi-and-nfts
DeFi wallet development services are used for storing the crypto coins and tokens of the users safely. There is no third party involved in the platform. The users need not disclose their personal identity or submit any personal information to register themselves on the wallet. It is non-custodial, easily compatible, utilizes fully encrypted private keys, easy to access, and is completely decentralized. Top-notch security measures are taken to safeguard the users’ funds and data. The different types of DeFi wallets are single-currency, multi-currency, business wallets, web, mobile, hardware, and desktop wallets.
**The typical features of a DeFi wallet are **
Safety measures such as two-factor authentication, biometric authentication, DDoS mitigation, anti-phishing software, SSL implementation, HSM implementation, browser detection security, and multi-signature wallets.
An inbuilt QR code scanner for quick execution of payments.
Whitelisting and blacklisting of wallet addresses.
Merchant integration services.
Seamless integration with numerous payment gateways.
Can be used for the transfer of funds, peer-to-peer payments, preparing invoices, and bill payments.
Is compatible across web, mobile, and desktop.
Protection from inflation, economic downturn, and a market crash,
Auto-denial of duplicate payments helps to prevent chargeback fraud.
Make full use of professional DeFi wallet development services and improve your financial position in no time.
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Technology has taken a place of more productiveness and give the best to the world. In the current situation, everything is done through the technical process, you don’t have to bother about doing task, everything will be done automatically.This is an article which has some important technologies which are new in the market are explained according to the career preferences. So let’s have a look into the top trending technologies followed in 2021 and its impression in the coming future in the world.
First in the list of newest technologies is surprisingly Data Science. Data Science is the automation that helps to be reasonable for complicated data. The data is produces in a very large amount every day by several companies which comprise sales data, customer profile information, server data, business data, and financial structures. Almost all of the data which is in the form of big data is very indeterminate. The character of a data scientist is to convert the indeterminate datasets into determinate datasets. Then these structured data will examine to recognize trends and patterns. These trends and patterns are beneficial to understand the company’s business performance, customer retention, and how they can be enhanced.
Next one is DevOps, This technology is a mixture of two different things and they are development (Dev) and operations (Ops). This process and technology provide value to their customers in a continuous manner. This technology plays an important role in different aspects and they can be- IT operations, development, security, quality, and engineering to synchronize and cooperate to develop the best and more definitive products. By embracing a culture of DevOps with creative tools and techniques, because through that company will gain the capacity to preferable comeback to consumer requirement, expand the confidence in the request they construct, and accomplish business goals faster. This makes DevOps come into the top 10 trending technologies.
Next one is Machine learning which is constantly established in all the categories of companies or industries, generating a high command for skilled professionals. The machine learning retailing business is looking forward to enlarging to $8.81 billion by 2022. Machine learning practices is basically use for data mining, data analytics, and pattern recognition. In today’s scenario, Machine learning has its own reputed place in the industry. This makes machine learning come into the top 10 trending technologies. Get the best machine learning course and make yourself future-ready.
To want to know more click on Top 10 Trending Technologies in 2021
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