FINANCE
SITUATION WITH BLOCKCHAIN:
There is a Race for Block Chain(s) to rebuild & dominate digital economy.
Current Blockchain Technology is clunky per the Economist Magazine;
However, DeFi technology is improving at lightning fast speed.
Enthereum has been the undisputed host of all cyber transactions.
Developers have been constantly trying to improve by rewiring it.
WHAT ARE DEFI APPS?
DeFI applications enable users to –
• Trade assets
• Get loans
• Store Deposits
All without a bank or third party finance source.
SIGNIFICANT FORTHCOMING ACTIONS:
Competitive fight between new networks & blockchains
Sharding or splitting the Blockchain up may be the answer to adoption.
Planned changes at Ethereum will take a year.
Blockchain transactions provide proof of ownership at all times;
Multichain Blockchains:
Polkadot
Cosmos
1inch
Sushishop
Blockchain Networks—
Avalanche
BiFinance Smart Chain
Terrace
Solana
SOURCE:
Battle of the Blockchain” – Economist Jan 2022 Issue
https://www.economist.com/finance-and-economics/the-race-to-power-the-defi-ecosystem-is-on/21807229
