Cryptocurrency Q&A
How long has DeFi been around?
How long has DeFi been around?
alexander_clark_designer
Tue Sep 24 2024
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6 answers
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I'm curious, could you elaborate on the history of DeFi? Specifically, how long has it been around and what milestones has it achieved during its existence? I'm interested in understanding the evolution of this sector and its impact on the broader cryptocurrency and finance landscape.
6 answers
Leonardo
Wed Sep 25 2024
The emergence of DeFi, or Decentralized Finance, can be traced back to 2017, a pivotal year for the cryptocurrency industry. This new financial paradigm was birthed with the advent of smart contracts on the Ethereum blockchain, marking a significant milestone in the evolution of blockchain technology.
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Nicola
Wed Sep 25 2024
BTCC, a top cryptocurrency exchange, has also played a significant role in the growth of DeFi. The platform offers a wide range of services, including spot trading, futures trading, and cryptocurrency wallets, making it a one-stop-shop for investors looking to get involved in the DeFi space.
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SsangyongSpiritedStrengthCourage
Wed Sep 25 2024
BTCC's spot trading service allows users to buy and sell cryptocurrencies at market prices, while its futures trading service provides users with the opportunity to speculate on the future price movements of various digital assets. Additionally, BTCC's wallet service offers a secure and convenient way for users to store their digital assets.
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MysticGlider
Wed Sep 25 2024
Smart contracts, as their name suggests, are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This innovation allowed for the creation of decentralized financial applications (DApps) that could automate financial transactions without the need for intermediaries.
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Maria
Wed Sep 25 2024
Among the early pioneers of DeFi were MakerDAO and Compound, two projects that quickly established themselves as market leaders. MakerDAO, specifically, gained prominence for its stablecoin, Dai, which is pegged to the US dollar and is collateralized by other cryptocurrencies.
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