Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer
Cointelegraph
Published Dec 23, 2020 05:27PM ET
Updated Dec 24, 2020 07:20PM ET
Figuring out the point at which decentralized finance began almost always ends up in a rhetorical debate. Some argue that Bitcoin’s (BTC) invention a decade ago marked the start of it, as the major cryptocurrency was the first peer-to-peer digital money and represents the conceptual core underpinning DeFi. Others say — and would be technically correct in doing so — that DeFi started back in December 2017, when Ethereum-based protocol MakerDAO was launched, followed by Compound Finance and Uniswap, released in September and November 2018, respectively. On the other hand, it wouldn’t be a stretch to say that DeFi’s true ascent started this year.
DeFi’s monumental rise in total value locked — starting this summer and surpassing $16 billion this month — has undoubtedly made the sector one of the most discussed topics of 2020. And, as expected, there are those who support it and those who criticize.
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Written By: Cointelegraph
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