Permainan judi slot online terbaik

slot hoki terpercaya

  • About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$24,335.006.48%
  • ethereumEthereum$1,870.4511.92%
  • xrpXRP$0.3816434.84%
  • bitcoin cashBitcoin Cash$143.347.83%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
    • Best Crypto Presales
    • Tamadoge
  • Autotrading
    • BitProfit
    • Bit Index AI
    • Metaverse Profit
    • Today Profit
    • Quantum Code
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
    • Bitcoin Smarter
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • TeslaCoin
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • NFT Profit
    • Bitcoin Decoder
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Here Comes The 3rd Innovation Wave of Decentralised Finance (DeFi)

John Wanguba by John Wanguba
July 1, 2019
in Blockchain, Opinion
Reading Time: 5min read

Advancement in technology is affecting every sector of the global economy including the financial industry of decentralized finance (DeFi). DeFi is seen as a channel to re-invent the entire financial industry by offering financial services using software built on top of public blockchains.

Any financial service is built around trust, competence, and data. Nowadays, these three fundamental pillars are reinvented into software products. Based on that perspective, the DeFi services will be developed by reinventing layers of competence, trust, and data.

The blockchain technology is expected to enhance the financial sector throughout the world.

The trust layer will reinvent as public blockchains featuring protocols that run on them. Instead of trusting the traditional financial institutions, now users can trust decentralized networks of nodes that maintain both coded rules and ledgers of transactions. On the other hand, the competence layer will be reinvented as openly available decentralized networks of financial intelligence created and fully maintained by machines.

However, the data layer will reinvent as decentralized oracles that collect and authenticates data from external origins. The authenticated data is then transmitted into decentralized artificial intelligence (AI) and public blockchain networks. In the future, it is expected that most financial services in DeFi sector will be developed, maintained, and offered as software products that interoperate among AI networks, decentralized oracles, and public blockchains.

Public Blockchains; the 1st innovation wave

The emergence of the public blockchains as decentralized payment networks was ranked as the first innovation wave experienced in the field of decentralized finance. In that wave, fiat currency was changed into crypto coins empowered by blockchain technology. The primary use-cases for cryptocurrencies are payments and storage of value.

The first wave dominated mostly from 2009 up to 2013. The most popular and famous examples are bitcoin released in 2009 and litecoin released in 2011.

Protocols are the 2nd Innovation Wave

During the second wave of innovation, reinvention of trust in the decentralization protocols concept continued. Protocols are rules-based systems that run on public blockchains. This second wave came up with decentralized programmable money that combined public blockchain with smart contracts which are coded rule-based systems.

The wave brought platforms to create protocols like Stellar in 2014, Ethereum in 2015, and EOS in 2018. Also, protocols that connect different blockchains like Polkadot and Cosmos came up. The second wave is also credited for bringing use-case protocols for stable cons like trueUSD and decentralized exchanges like Bancor and Ox. Also, lending platforms like Compound, Dharma, and MakerDao were invented.

The analysis shows that derivatives like dYdX and Index Protocol were invented in the same era. The second wave dominated the larger part of2014 through to 2018.

The 3rd Innovation Wave; AI and Decentralized Oracles

The next wave is expected to be about the reinvention of decentralized data and competences. These are the missing elements essential for building fully functional automated, interoperable, decentralized products like fund management, lending, and derivatives. For instance, lending is not only transition between lender and borrower, but it also needs data on borrowers and competence to score borrower.

Thus, the 3rd innovation wave may bring decentralized oracles and networks of machine intelligence that create financial competences for other ecosystem players. An excellent example of decentralized oracles is chainlink released in 2019.

Like what you're reading? Subscribe to our top stories
Tags: Artificial intelligenceBitcoinBlockchainChainLinkCosmoscryptocryptocurrenciesdecentralizationdecentralized financedecentralized oraclesDeFiEthereumLitecoinprotocolspublic blockchains

Related Posts

US Ethics Advisory On Federal Employee’s Crypto Has Basis In Law
Crypto news

US Ethics Advisory On Federal Employee’s Crypto Has Basis In Law

August 10, 2022
Tether Confirms Its Support For The Post-Merge Ethereum
Crypto news

Tether Confirms Its Support For The Post-Merge Ethereum

August 10, 2022
DeFi Requires A ‘Killer App’ To Push It Higher – Ripple Executive
Blockchain

DeFi Requires A ‘Killer App’ To Push It Higher – Ripple Executive

August 10, 2022
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories
situs qq online terpercaya
probola
Menyajikan live score bola terkini
www.jamberrynails.net
adtoken.com
Agen bola
judi online slot
daftar judi slot terbaru
situs BandarQQ Online
Situs judi online Terpercaya
poker online
judi bola
slot pragmatic
situs judi bola
situs judi bola
pragmatic play
judi bola
Situs Slot TOS885

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • Crypto news
  • Analysis
  • Editors’ Choice
  • Entertainment
  • Press Releases
  • ICO
  • Wisdom
  • Coins List
  • Advertising
  • About FXTimes
    • Privacy Policy
    • Terms of Use
    • Donate

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.