How does DeFi Attract More Users and Reach Mass Adoption?

[CryptoKri]

2020 has been one of the most fantastic years for the cryptocurrency industry. This year, decentralized finance really blew up. As of December 9th this year, the Ethereum blockchain network has more than 1 million unique addresses. This increase represents more than a tenfold increase from just the 91,000 addresses at the same time last year. While these numbers are incredibly positive, experts say that it shouldn’t be taken as a sign of widespread adoption.

Speculators turned to participants
For DeFi to gain mass adoption, it must find a way to turn most of the people who know about it from simple speculators to active participants. Brian Flynn, the co-founder of Rabbithole, says that one sure way to bring people into the fold is by having a killer app revolving around speculation.

A different kind of user
To get more users active on the DeFi landscape, you definitely need to attract different kinds of user’s altogether. As it is, most DeFi applications are tailored toward a particular demographic, which excludes a lot of other people.

read more in: https://crypto.co/technology/how-does-defi-attract-more-users-and-reach-mass-adoption/ [nofollow]

[pealr12]

I think for now the hype is what attract some investors more, some investors don't even know anything about defi except it will bring lot of profit for tham, their concern is the money aspect and nothing more.

[Altcoin1998$]

2020 year specially for some special coins ..I indicate only bitcoin, Ethereum and some DeFI projects. But not all DeFI projects specially yearns finance, keep3rv1, polkadot, chainlink, aave , uni , and sushi swap. Above projects have an extra attraction towards the people to trade and invest.

[Triedboy]

The point you have made is that everyone will be interested in investing, at least in part.Currently, the market for this project is a bit of a dump, which has reduced some investors.But looking at the things you mentioned, everyone will be interested in investing.

[Pluto25]

2020 not only the year of DeFI projects hyped but also the testimony of bitcoin and Ethereum market also. Bitcoin already hyped and broken the highest price record last day 17 December 2020.

[Hometown]

Defi projects have a exception features that it have a limited supplies and all tokens/ coins sold at presales or ieo .then prices are increasing all times.

[whyrqa]

Defi projects have a exception features that it have a limited supplies and all tokens/ coins sold at presales or ieo .then prices are increasing all times.

In any case, a very good PR campaign of DeFi projects, as well as the excitement around these projects, as well as a high rise in prices, greatly influences the attitude of users to this. Only by seeing results that generate large returns will users invest in DeFi with confidence.

[Trumpet]

Yes, I think this project will attract more people in 2021. At present, many good investment sites have been created from this project from which people are constantly investing.Hopefully soon this project will gain popularity like Ethereum and Bitcoin.