Modern trends in decentralized finance
Demand and need for remote communication has increased in recent years during the development of the digital economy. The evolution of blockchain technology and decentralized finance continues at an enormous pace, taking the place of the main technology of the century and the newest technological order.
Let’s highlight the trends of the modern decentralized economy:
1. Yield-farming
Yield-farming has become the most popular blockchain trend booming in 2020. Thanks to this scheme, asset owners freeze (block) their tokens on the decentralized network, which provides the necessary liquidity.
The rapid dynamics of development and popularity in the field of pharming income looked like a “bubble”. 2021, in turn, promises to be even more revolutionary along with more automated yield-farming platforms.
2. DEX development
DeFi is said to have 96% of all frozen cryptocurrencies in credit protocols or decentralized exchanges (DEX). Comparing DEX and credit protocols, it is clear that DEX owns less than half of the blocked cryptocurrencies compared to credit protocols. Therefore, there is speculation that in the DeFi space, DEX will soon control most of the funds frozen on the blockchain network to provide liquidity in order to satisfy the exchange supply and demand.
3. Tokenization and compatibility
Tokenization is the process of digital representing of an existing real asset in a distributed ledger. Tokenized shares represent securities converted into a digital security token (Security Token Offering or STO) using blockchain technology. A security token is backed by a real asset and tied to its value.
It is impossible to forge such a digital share. The information is stored in a public register, where every change in the terms of the contract and (or) transaction will be noticeable to each party to the transaction. The advantage of tokenizing a stock is that it has a substantive right to purchase.
4. The next level of stablecoins
Stablecoins are cryptocurrencies with a relatively stable value. Stablecoins are usually valued at the value of national currencies. During this year, $ 20 billion was invested in stablecoins, bringing the supply to over $ 50 billion. Due to the upcoming series of sanctions by states, the market is expected to be divided by large stablecoins. At the same time, the CBDC can be published, then there can be a struggle for money management between private, state and central banks, or they will exist together on partnership agreements.
5. Self-reliance and independence
As a result, we see that 2020 turned out to be the best year for the decentralized economy, thanks to the progress in the field of blockchain security and scalability. There are many reasons and opportunities for crypto enthusiasts and users alike to stay in the most technologically advanced industry and explore the unknown with a sense of optimism and excitement.
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