DeFiChain is the latest blockchain cryptocurrency platform to launch into the hyped decentralised finance (DeFi) space.
DeFiChain’s native coin DFI joins the growing DeFi coins list and is available to trade on the Bitrue crypto exchange.
The DeFi movement aims to leverage decentralised networks, such as blockchain to disrupt or transform traditional financial products operated by banks and other large financial institutions.
In the last year, the value locked into DeFi has increased 1500 percent to $US8 billion, according to DeFi Pulse, an analytics and rankings platform for the decentralised finance space.
“DeFiChain intends to be the platform for everyone to access all possible DeFi transactions in the near future, and we’re excited to be listing on Bitrue,” says DeFiChain Foundation Chairman, Dr. Julian Hosp.
A recent joint industry report by Boston Consulting Group and Crypto.com probed whether decentralised finance (DeFi) is a bubble ready to burst, or set to overcome growing pains and become a sustainable alternative to banks.
The report, ‘The Sudden Rise of DeFi: Opportunities and Risks for Financial Services’ found that although it might deflate once current hype subsides, there will be a growing demand for solutions like DeFi, which will provide new ways of banking, trading and investing.
Singapore based, DeFiChain says by dedicating the functionality of a blockchain specifically to decentralised finance, it’s able to provide high transaction throughput, reduced risk of errors, and intelligent feature development.
DeFiChain says it’s also launching liquidity pool functionality, which allows the platform to be one of the first few non-Ethereum blockchains supporting yield farming.