Nikolas JoyceMay 3, 2021, 8:43 AM·3 min read
Bitcoin — all the rage since first crossing the $1,000 price mark in 2017 — is the least exciting crypto asset on the market. Like many “firsts,” Bitcoin enjoys widespread brand recognition, but that recognition doesn’t accurately reflect its value as an asset, particularly in comparison to other available assets in the crypto market.
Bitcoin is to the crypto market what Netscape was to search engines in the early days of the Internet. There’s a need for a better solution, and the market is responding.
Real innovation in the crypto market now takes place in decentralized finance (DeFi) and the mainly Ethereum-based (ETH) infrastructure that underpins it.
DeFi, which supports everything from decentralized exchanges to token based lending, mimics the structure of traditional financial markets in the open, transparent forum of a blockchain-based infrastructure. According to ConsenSys, more than $2 billion worth of transactions occur daily on decentralized exchanges and more than $23 billion in...read more...