The traditional finance systems are increasingly replaced by the emerging Decentralized Finance applications because they provide users with more authority over their funds. The entire platform is run on smart contracts, without an intermediary, and hence more transparency, low transaction fee, and the highest security. Osiz Technologies, the decentralized finance development company, lends its support to startups, entrepreneurs, and other corporate houses in delivering decentralized financial services to their monetary ventures
“DeFi will grow really big and will replace banks!”
Michael Egorov [CEO, Curve]
As I write, the Total Locked Value in DeFi is $6.86 Billion!
The prevalent list of services offered helps entrepreneurs establish their predominant presence in the emerging decentralized finance world.
Osiz Technologies act as the decentralized finance (DeFi) solutions provider to clients across the world. The unparalleled experience in the blockchain development sector and former client’s satisfaction showcase the organization’s authenticity, quality, and integrity.
Decentralized Finance applications act as alternatives to traditional financial service, the major highlight being the automation of process without an intermediary.
Decentralized finance applications offer the following benefits,
Obviously, a decentralized exchange is better than a centralized exchange. It promotes more security and authority of users’ funds and data.
DeFi operates on smart contracts and blockchain technology. Any operation involved in blockchain technology is highly transparent, non-hackable, and secure.
Smart Contracts are coded mutual agreement between the parties, without the presence of any intermediary. Since they are non-editable and based on conditions to automate the functions, they make the system rigid.
Stable coins are a new class of cryptocurrencies that are pegged to a real-world asset to offer price stability.
The transaction fee is very low in DeFi exchanges because the role of a central authority is completely absent. Also, DeFi exchanges promote better security.
Decentralized Finance applications facilitate financial services in a decentralized platform. Some common examples of DeFi apps are UniSwap, MakerDAO, and Compound.
DeFi is the safest financial system because the distributed ledger network of its structure makes it unbreachable. With private keys, users have complete authority over their funds.
Financial operations must be carefully dealt with, and hence they are decentralized because for hackers the system is highly complex and for users, it’s much simpler and accessible than any other financial system.