If when you take part in DeFi you don’t feel like you are at the gates of disruption and just waiting for someone to turn the key, you are probably doing it wrong.
In order to contextualize the changes in DeFi over the last year, it is important to summarize this again a year ago, in April 2020. which is now $ 51 billion The value set in DeFi protocols reached an all-time high of “only” 700 million. Because of this, it should come as no surprise, according to a recent survey up to 72% 60% of UK accredited investors plan to use DeFi in the coming year.
Changing times, booming industries
The locked value isn’t the only thing that has changed in DeFi. Thanks to the growing interest in these protocols, the delivery of stablecoins is possible in the crypto market grew over $ 26 billion, Dot pattern The network has seen developer activity grow 44%, and traffic on Ethereum’s network has grown to critical levels and beyond imagination.
According to EQIFi “Chairman Jason Blick, the way institutions and governments think about these instruments has also changed. Jason tells us:
Francisco Blanch, an analyst for Bank of America, recently claimed, “DeFi is the most fundamental challenge to modern finance that we have encountered. He is 100% right.”
Is DeFi Ready To Meet 70% of All American Investors?
Jason and many others know the data well enough to look forward to 2021 being as big in the history books as 2020. As the chairman of a fully regulated bank, wealthy individuals and corporations (two sectors created by the advent of crypto Mainstreams) provides access to cryptocurrencies and DeFi instruments, it has a reassuring certainty. Jason also thinks they don’t follow suit EQIFi The example of giving customers regulated access to DeFi will suffer in the future.
As he says: “The future of finance, especially for traditional centralized institutions, will depend on how they deal with the DeFi challenge. They can choose to take advantage of it, modernize their systems and the fundamentals of their business, or fall by the wayside. As simple as that.”
Indeed, the stars appear to be aligned towards DeFi’s second great wave that is taking the world by storm. Almost in agreement, crypto users (and those waiting on the sidelines) seem to be waiting for the final piece of the puzzle to roll up the curtains.
Ethereum 2.0: the big disruptor
Despite recent interest in alternative chains, Ethereum continues to be the network of choice for DeFi protocols. As already mentioned, however, there has been controversy about the increasing overloading of the ETH network. In fact, this excessive traffic has caused transaction costs to skyrocket, making DeFi too costly for the average retail investor.
Ethereum founder Vitalik Buterin recently commented on the complex changes the Ethereum Foundation is looking to implement to significantly increase the number of transactions that ETH can process without compromising security. He also expressed an interest in keeping the chain decentralized. Since Ethereum has set itself the goal of becoming a “worldwide, decentralized supercomputer”, these changes are of crucial importance for the network in order to withstand the subsequent computing requirements.
The good news, however, is that after a criticized wait, Ethereum 2.0 is now on the right track to debut in the near future. When 70% of America’s accredited investors and 60% of those in the UK look for DeFi (either directly, through a bank or a crypto exchange), they’ll be greeted by growing innovation, more efficient chains and maybe a smiling “I told you” from the crypto community.
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