Why we need DeFi?

[EAA-ALLAH]

Cryptocurrencies are still dependent on centralized exchanges for their use. DeFi brings in decentralized exchanges to make sure that there no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies.

[H2O]

Cryptocurrencies are still dependent on centralized exchanges for their use. DeFi brings in decentralized exchanges to make sure that there no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies.

Yes brother you are right because today the age of DeFi. Everywhere we need cryptocurrency but all cryptocurrencies are dependent on centralized exchanges but DeFi concerns with decentralized exchanges, Uniswap is the main DeFi based decentralized exchanges.

[heyod hewow]

Cryptocurrencies are still dependent on centralized exchanges for their use. DeFi brings in decentralized exchanges to make sure that there no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies.

Decentralized exchanges existed even before the emergence and start of hype defi projects. Of course, defi projects greatly accelerated this process.
But nevertheless, I do not think that defi projects will shake the popularity and power of centralized exchanges too much. Defi projects are in a state of hype at the moment, but this in turn means that they can collapse at any moment like any banal Ponzi scheme.

[Malam90]

Now it is DeFi trend going on and we have to cope with it. We can't avoid it anymore but we have to be conscious before investment. We have to find proper project as DeFi has brought a revolution in crypto finance. DeFi brings a system where investors can invest without revealing his/her identity previously DEX nearly same idea. Now this autonomous system has become popular instead of centralized exchange.

[TomPluz]

In my point of view, DeFi is actually what the real vision of decentralization is. However, before we get carried away and become so excited we should be reminded that things here are not yet that stable. Just like the rest of cryptocurrency, it is also very volatile and right now there can be some projects that will eventually fail. Just like the ICOs of the past, we are now seeing an avalanche of platforms offering weak features and even allowing the compromise of their security, all to the detriment of the wallets of the people who believe on them. While the potential of DeFi is huge and can be game-changing, we should also be very careful and not allow our eyes to be blinded (by greed).

[heyod hewow]

The goal of decentralized financial technologies aka DeFi is to recreate traditional financial systems (such as lending, borrowing, derivatives and exchanges) using automated tools instead of intermediaries. Fully automated DeFi "building blocks" can be used to create more complex tools. At the moment, Ethereum is the main platform for decentralized finance, but in principle, these ideas can be implemented on any platform for smart contracts - EOS, Tron, etc.

[bubbalex]

The goal of decentralized financial technologies aka DeFi is to recreate traditional financial systems (such as lending, borrowing, derivatives and exchanges) using automated tools instead of intermediaries. Fully automated DeFi "building blocks" can be used to create more complex tools. At the moment, Ethereum is the main platform for decentralized finance, but in principle, these ideas can be implemented on any platform for smart contracts - EOS, Tron, etc.

Agree, because of DeFi Ethereum became very popular again, but faced the issues with scaling, that opened the way for other more scalable projects like Tron, anyway Ethereum 2.0 should be released soon and we will be able to see what will happens with the most popular smart contract platform.

[hair]

DeFi is needed as a financial solution that is not controlled by anyone. It can even be said that DeFi is a decentralized finance that can provide loans with to be anonymous, safe and comfortable.

[heyod hewow]

Agree, because of DeFi Ethereum became very popular again, but faced the issues with scaling, that opened the way for other more scalable projects like Tron

Yes, scalability and especially high transaction fees have become huge problems with defi projects on the ethereum platform. I think that the next waves of popular and profitable defi projects should appear on EOS, TRON and Waves platforms, where such fees are very tiny compared to the ethereum platform.

[TERMINO]

Basically, the new born project is the messing part of cryptocurrency ecosystem services between user and blockchain. DeFi will boast Ethereum because mostly of DeFi tokens now are Ethereum base. Also crypto people or even a simple person is able to use DeFi platform as long as he/she knows about DeFi. In addition the community of crypto world will increase when DeFi tokens become successful and rooted in cryptocurrency industry.

[zilzylian]

Cryptocurrencies are still dependent on centralized exchanges for their use. DeFi brings in decentralized exchanges to make sure that there no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies.

The DeFi project is a good idea when many banking systems place restrictions on each user for borrowing money.
Until now, I am still thinking about the safety of this financial loan platform, because there is no government interference in this loan agreement, I am still seeing the development of the DeFi project and want to get the benefits if it is truly safe.

[Duckenth]

Because DeFi will make it easy for us to do lending and borrowing matters, with this Decentralization of Finance, it will certainly make it easier for us because every transaction does not require a third party.  However I am not sure it will work out easily or smoothly in the near future, it will still take time to adapt to the general public.

[ayatoslaw]

Cryptocurrencies are still dependent on centralized exchanges for their use. DeFi brings in decentralized exchanges to make sure that there no centralized point-of-failures within the ecosystem. Centralized organizations manage the majority of the cryptocurrencies.

Decentralized exchanges existed even before the emergence and start of hype defi projects. Of course, defi projects greatly accelerated this process.
But nevertheless, I do not think that defi projects will shake the popularity and power of centralized exchanges too much. Defi projects are in a state of hype at the moment, but this in turn means that they can collapse at any moment like any banal Ponzi scheme.

I also have the same thoughts as you,
if I see DeFi will only be a trend that will sooner or later end like previous trends (cloud mining, ICO, IEO), and as time goes by professional players will take some benefits and wait for new trends to occur, while amateurs who just know cryptocurrencies, most of them will sink into the temporary hype.

[heyod hewow]

The DeFi project is a good idea when many banking systems place restrictions on each user for borrowing money.
Until now, I am still thinking about the safety of this financial loan platform, because there is no government interference in this loan agreement, I am still seeing the development of the DeFi project and want to get the benefits if it is truly safe.

Unfortunately at the moment no projects in the cryptocurrency world are completely safe and DeFi projects are no exception. There is practically no regulation in the crypto world or it is so weak it cannot protect investors from the machinations of dishonest developers, from scam and threats from hackers.

Therefore, investors should themselves ensure the safety of their investments and study ways to protect against the above threats.

[H2O]

DeFi is a short abbreviation of decentralized finance. It combines bonding between finance with cryptocurrencies. DeFi is very much important and effective in recent times. We can use DeFi as borrow, sending, interest money (Legos).