International company Vuuzle Media Corp Limited launches a new blockchain platform for cryptocurrency trading called Cryptocaptrades, as well as a crypto platform – https://vucocash.com. Also, as you know, Vuuzle Media Corp Limited became the first company in the history of OTT to release its token called Vuco Coin.
According to Vuuzle Media Corp Limited founder Ronnie Flynn, the creation of a decentralized cryptocurrency trading platform will ensure the security, stability and efficiency of more than 1 million professional cryptocurrency investors worldwide in DD asset trading services.
WHAT IS DEFi?
Decentralized finance is an economic system whose purpose is to create an open, accessible and transparent financial services ecosystem that operates independently of the authorities. Simply put, these are financial systems based on blockchain technology.
PURPOSE of DeFi
The goal of DeFi (decentralized finance) is to develop a quality alternative to the traditional banking system. Normally, it’s done with the help of decentralized technologies.
DeFi AND THE ETHEREUM ECOSYSTEM
Despite the fact that Bitcoin became the first cryptocurrency, the Ethereum ecosystem offers the largest number of DeFi opportunities. The reason behind? ETH blockchain was not originally developed as the “second cryptocurrency in the world”, but a platform for startups, ICOs and smart contracts.
FROM THE MAIN:
Ethereum or Ethereum is a blockchain platform for smart contracts.
ETH or cryptocurrency ether is an exchange unit on the Ethereum platform.
A smart contract is a blockchain algorithm that executes automatically.
Like Bitcoin, Ethereum runs on blockchain technology. This is a sequence of interconnected blocks of information, where each subsequent block indicates the data stored in the previous block. Most importantly, you can only add data, but never change.
THE FIRST Defi-project
Thus, Ethereum can be considered the first DeFi project as he made the opportunity to invest through ICO open to anyone. This also works as well as decentralized finance in general.
ADVANTAGES of DeFi services
The biggest advantage of decentralized finance is that the client does not need a special permit to join the system – there is no concept of credit rating or regulation KYC (Know-Your-Customer). The same rules also apply to everyone, and access to finance and the market is unlimited and can be exercised from anywhere in the world. All you need is internet access.
Finally, decentralized finance services also have an advantage for developing countries. Currently, about one-seventh of the population isn’t covered by banking services. DeFi can solve this problem. But it also requires quality mobile technology and the Internet.
Well, a bonus, decentralized finances allow you to earn well. Interest rates on DeFi platforms are much higher than in traditional banks.
DeFi are tools that in a way act as intermediaries between the user and also digital finance. They remove from the equation of traditional intermediaries in the form of banks and allow you to use many other services automatically.
The main “fuel” for DeFi is ETH (Ethereum) and DAI tokens. Ethereum has a huge role to pay commissions in the blockchain, this cryptocurrency is the easiest to convert into other currencies. DAI is a type of stable coin, also fully decentralized and pegged to the US dollar, making it less volatile.
Undoubtedly, DeFi services are a field for innovation. Decentralized finance programmed to create a financial system that would function independently of the traditional economy and political systems.
AND A LITTLE REDICAL DIGITS
Until 2021, Ethereum was the leading blockchain for DeFi development. Initially, the sector’s share of the cryptocurrency market estimated only by the number of blocked Ethereum.
The dominance of Ethereum by technical advantages: relatively high bandwidth, low-cost smart contracts and also micropayment-friendly currency. It is noteworthy that all DeFi-projects from the TOP-20 are developed on Ethereum.
In 2021, $ 9.6 billion was blocked in Ethereum, and the dominant project is Maker (15.46%), then in 2020, $ 8.6 billion was blocked, and the leader was Uniswap (23.05%).
There are virtually no projects on Bitcoin. Also, decentralized finances on this blockchain include only the Lightning Network payment system with its small daily volumes.