The chance for DeFi to fulfill the technology's promise
Cointelegraph
Published Oct 02, 2020 11:27AM ET
Updated Oct 02, 2020 01:00PM ET
The ecosystem is crowded with early versions of DeFi with many flaws: Because the tech is new, because the chains they run on have their own shortcomings, and because people are greedy and see a chance to make a lot of money very quickly by rushing products out without concern for who ends up paying for their gains. We can do better.
Much like how the ICO boom of 2017 brought widespread interest to the crypto market, DeFi will also shift many eyes toward our industry. But we need to remember that the cost of the 2017 runup and ICO boom was an eventual loss of general interest and a prolonged crypto winter that followed when the vast majority of these projects failed to live up to their promises. Instead of fast-tracking projects that do not meet their own stated ideals, we must aim higher to interest the general public in elements of DeFi that are sustainable and fulfill their promise. So far, few do, but we as an industry can fulfill our promises with DeFi.
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.