Good news for crypto enthusiasts comes from the Decentralized Finance (DeFi) space. It’s reported that there are now a total of 550,000 DeFi users. At the same time, we have more than 1,000 new assets in the industry.
In the past few years, DeFi has been hyped by plenty of crypto enthusiasts. Some of the top crypto influencers also believe that DeFi will be the reason why cryptocurrencies would eventually go mainstream.
And so far, the predictions have been correct. There are over 1,000 new assets in the DeFi space, and this is a big milestone for the crypto space. Some experts mentioned that DeFi to finance is like how the internet changed the way content worked.
Can DeFi become the new FinTech? Quite possibly. Reportedly, the internet successfully slimmed down the cost of distribution to close to zero. Nevertheless, the cost to “finance” is still relatively high. With DeFi, it can repeat what the internet did to the cost of content distribution.
With this good news, many people in the crypto community now believe that very soon, there'll be a total of 600,000 users in DeFi. They also believe that having a decentralized and trustless system helps DeFi protocols to actually gain customers’ trust. When there’s not one single entity or individual who can control all the funds, users tend to trust the platform more.
Source: CoinTelegraph
