Cross-Chain DeFi is Ramping UpThe dramatic growth in DeFi has been largely catalyzed by a wave of innovation and rapid iteration of novel protocols and tools that allow users to do more with their assets. Nonetheless, while DeFi is still very much in its earliest days, a new generation of DeFi products is beginning to paint a clear picture of where the industry is going.
From cryptonews.comThe Next Generation of Blockchain Infrastructure is Here
The dramatic growth in DeFi has been largely catalyzed by a wave of innovation and rapid iteration of novel protocols and tools that allow users to do more with their assets. Nonetheless, while DeFi is still very much in its earliest days, a new generation of DeFi products is beginning to paint a clear picture of where the industry is going.
From cryptonews.com
Today, decentralized finance is widely regarded as one of the most popular use cases for blockchain technology — with over $76 billion locked up in DeFi protocols on the Ethereum network alone.
The dramatic growth in DeFi seen in recent months has been largely catalyzed by a wave of innovation and the rapid iteration of novel protocols and tools that allow users to do more with their assets. Nonetheless, while DeFi is still very much in its earliest days, a new generation of DeFi products is beginning
to paint a clear picture of where the industry is going.Cross-Chain DeFi is Ramping Up
Polkadot, an infrastructure platform designed to act as a base layer for all other blockchains, has exploded in popularity in recent months — largely due to its potential to make cross-chain DeFi a reality.
Though Polkadot launched its mainnet one year ago, several major features are not yet available to use, including its bridges or parachains, which are still yet to be launched. Nonetheless, there are dozens of promising projects building on the technology, many of which will form Polkadot's DeFi hub.
Parastate is one such platform vying to become the basis for DeFi in the Polkadot ecosystem. As a substrate-based platform, Parastate benefits from impressive throughput and compute performance — two key features necessary when producing decentralized applications designed for mass adoption.
https://twitter.com/Polkadot/status/1389240793668390917
But most importantly, it offers an array of built-in DeFi features, such as lending protocols, stablecoins, oracles, and more — many of which are ported directly from Ethereum thanks to its Ewasm VM, which can directly run Ethereum code with zero changes.
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