Decentralized Finance Development: A Brief Guide

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Decentralized Finance Development A Brief Guide
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What Is DeFi Development?

• Interoperable financial applications will be
  built on top of the existing blockchain networks
  like Ethereum and EOS. 
• It uses a peer to peer mechanism and
  decentralized applications to communicate with
  the users. 
• Public distributed ledgers are used for managing
  the daily operations. 
• It covers different aspects like lending,
  borrowing, payments, insurance, trading,
  investment, and asset management.

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Why Ethereum Is the Number One Platformfor
Decentralized Finance Development

• It is highly interoperable and facilitates
  favourable network effects.
• It has the highest number of applications, user
  activity, and trading volume than other platforms
  like EOS and Bitcoin. 
• It offers a variety of projects such as asset
  management tools, crypto wallets, management
  dashboards, options trading, decentralized
  exchanges, and insurance.
• Ethereum 2.0s upcoming launch in December 2020
  will reduce network congestion and decrease
  transaction costs leading to increase in
  programmatic flexibility and extensive support by
  enthusiastic developers.

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Benefits Offered by Decentralized Finance
Solutions (DeFi)

• It is resilient to transaction censorship done by
  central authorities.
• Users have a complete hold over their funds due
  to the non-custodial character of the system. 
• Market and price efficiency is assured by
  reducing the chances of principal-agent risks.
• There are no stringent requirements and users can
  join a DeFi project without even having a bank
  account or a credit score.

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Obstacles to the Rise of DeFi Development

• There is still a lot of technical experimentation
  being done without a full-fledged launch.
• It lacks liquidity in contrast to centralized
  financial systems.
• Bugs found in the smart contract can lead to huge
  problems in case fraudulent or falsified
  transactions happen to get executed on the
  platform. 
• Operational challenges are present if there is a
  manipulation of price feeds and complex
  governance protocols by external forces.

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Future in Store for Decentralized Finance
Solutions (DeFi)

• Defis demand will increase by many times due to
  the digitization of business operations and more
  adoption of blockchain technology.
• It needs to cater to every single individual and
  not just blockchain enthusiasts if it wants to
  replace traditional financial systems.
• The main challenges are low liquidity,
  unintuitive user interface, capital inefficiency,
  and regulatory uncertainty.
• It can alter conventional financial institutions
  in the form of decentralized decision making,
  division of risks, and transparent record
  keeping.

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Why Choose Blockchain App Factory as Your Partner
for DeFi Development

• They have an experienced and knowledgeable
  developer team with a keen eye for detail about
  the trends in decentralized finance development
• You can raise a huge amount of funds at an
  affordable cost.
• The field of expertise is in developing
  blockchain protocols, cryptonomics, asset
  tokenization, wallet integration, and smart
  contract development. 
• The services offered are decentralized crypto
  banking, DeFi lottery system development, DeFi
  insurance system development, DeFi yield farming
  platform development, DeFi lending platform
  creation, and DeFi tokens development.

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