The DeFiChain Foundation is developing DeFiChain, a blockchain specifically dedicated to decentralized financial applications. By focusing on the functionality of the blockchain and dedicating it specifically to decentralized finance, DeFiChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development specifically for the fulfillment of financial services on the blockchain.
eFi Blockchain is a decentralized blockchain platform specifically dedicated to enable fast, intelligent, and transparent decentralized financial services, accessible by everyone, everywhere. Running on a proof-of-stake consensus mechanism, it features proven security and immutability by anchoring its most recent Merkle root to the Bitcoin blockchain every few minutes. The platform also features unparalleled high transaction throughput for all transactions, and reliable decentralized governance, on and off-chain.
A blockchain dedicated to fast, intelligent and transparent decentralized financial services, accessible by everyone.
The Post-Fintech Revolution
From trust-based to trust-less, decentralized finance overcomes what Fintech could not solve in traditional finance.
Benefits of DeFiChain.
DeFiChain Wide range of crypto-economic financial operations.
Unparalleled high transaction throughput for all transactions.
Turing-incomplete for reduced attack vectors.
Rapidly create a variety of DeFi apps on one chain.
Reliable decentralized governance, on and off-chain.
Immutable by anchoring to the Bitcoin blockchain.
Designed and engineered for decentralized finance dApps
Borrow and lend through collateralized systems.
Wrapping of tokens
DeFiChain Work with a variety of cryptoassets, directly, on-chain.
Collect data from other chains and non-crypto markets.
Direct peer-to-peer trading between cryptocurrencies.
Transferable debts and receivables
DeFiChain Work with transparency not possible with institutions.
Loans based on reputation and verifiable credentials.
Tokenize equity, real estate, and other holdings.
Distribution of dividends
Automatic investment payouts with smart contracts.
DeFiChain marries the best of Proof-of-Stake, with the security and immutability of Bitcoin.
Decentralized and distributed
DeFiChain nodes are distributed globally across datacenters in the US, Canada, Europe, India, Singapore and Australia.
Today, almost all financial services are run by banks. Investments, for example, by definition, is the use of capital to earn more capital. Investors use a bank to put their money into interest or dividend-making instruments in order to grow their wealth. The problems with financial services are increasingly becoming obvious to everyone: compounded costs due to middle(wo)men, slow transactions, delays for cross-border transactions, and inaccessibility to many sectors of the population. A myriad of fintech solutions have been brought in to improve the system, but fundamentally the underlying banking system is still in control, so fintech has brought only limited improvements.
Cryptocurrency and Decentralized Finance (DeFi) offer a way to start with a new system, circumventing the difficulties faced in changing the finance industry. While crypto has attracted billions in investments, decentralized financial services are lagging. When it comes to investment in cryptocurrency, crypto investors can buy and sell, but that’s it. The cryptocurrency itself cannot be invested in the same way fiat currency can be. Initial attempts to create peer-to-peer lending and asset tokenization so far have proven partial and unreliable, so investors have extremely limited options when it comes to an investment of their cryptoassets. The potential is enormous to provide financial services in crypto, the same way they are offered in fiat currency.
DeFiChain is designed for investors in the cryptocurrency market who are looking to make their cryptocurrency work just like any other form of capital, such that they can ensure a return on investment in any market. DeFiChain is a dedicated non-Turing-complete blockchain, designed specifically for the decentralized finance (DeFi) industry. DeFi provides full functionality for this specific segment of the DLT community, sacrificing other types of functionality for simplicity, rapid throughput, and security.
The function set includes among others:
Decentralized wrapping of tokens
Decentralized Pricing oracles
Transferable debts and receivables
Decentralized Non-collateralized debt
Distribution of Dividends
The state of DeFi
The current state of Decentralized Finance (DeFi) is populated by general purpose blockchains, most of which provide Turing-complete command sets for the development of smart contracts on the chain. While appropriate for many programming languages, this dogmatic pursuit of Turing-complete smart contracts languages has resulted in a variety of problems when it comes to scalability, security and robustness of the blockchains.
The sheer mass of dApps on networks such as Ethereum, EOS and TRON have potential (or proven) impact on other dApps on the network. The most obvious example was when CryptoKitties ground the Ethereum network practically to a halt. While some of the faster-throughput networks say this can’t happen, it will be some time before any other network reaches the critical mass of apps on Ethereum so that we can prove whether this is or isn’t the case.
For serious financial type dApps, it’s important to know that the network is being maintained and managed in a responsible and secure manner. Having a blockchain that is swamped with games, gambling and other types of less “mission critical” apps will ultimately influence the development and direction of the blockchains. With governance models that allocate power to masternodes, dev groups, and token-holders, the core development team will ultimately be influenced by the biggest players. Decentralized Finance apps can’t afford the potential consequences of sharing a blockchain with anyone who chooses to use that operating system.
Using Turing-complete command sets requires programmers to create complex programs to develop any kind of app. For example, to create a peer-to-peer lending contract on top of MakerDAO, a programmer requires approximately 2000 lines of code. Any bug in that code can cause loss of the funds, or some other consequence. Maintaining such a large code base intrinsically means larger chances for mistakes and a large attack surface for even simple apps.
Benefits of DeFiChain: Summary
Development of a variety of financial operations & vehicles for cryptocurrency economy.
High throughput for all transactions
Safer, more secure blockchain specifically for decentralized finance..
Rapid development of dApps for decentralized finance.
Peace of mind that the blockchain is not used for any types of non-financial dApps, thus decisions of Foundation and core developers are focused 100% on decentralized financial use-cases and nothing else.
Rapid development of dApps with dedicated calls specifically for finance applications.
Minimal attack surface of financial smart contracts developed on the platform.
Reliable governance (off-chain and on-chain).
Highly immutable – by periodic anchoring to Bitcoin blockchain.
Not All The Websites Which Listed In Top List Are 100% Safe To Use Or Investment. We Do Not Promote Any Of Those. Due Diligence Is Your Own Responsibility. You Should Never Make An Investment In An Online Program With Money You Aren’t Prepared To Lose. Make Sure To Research The Website. So Please Take Care Of Your Investments. And Be On The Safe Site And Avoid Much Losing Online.
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .
One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.