22 November 2021 16:29, UTC
Reading time: ~ 2 m
Since its inception, Decentralized Finance (DeFi) has improved the lives of many people and organizations in the crypto space. With a variety of implementation options and use cases that drive big development, DeFi has been one of the driving forces behind cryptocurrency growth since 2020. This new tool begins to undermine the foundations of centralization and partially transfers power to the people.
Unsurprisingly, the DeFi sector has skyrocketed with more than $ 20.5 billion invested as of January 2021. DeFi Decentralized Autonomous Organizations (DAOs) such as Uniswap, Compound, Aave and Synthetix rolled out a new an organizational structure that allows firms to coordinate financial decisions.
A Chinese journalist tweeting the Wu Blockchain account wrote that on November 21, the number of unique addresses using DeFi exceeded 4 million. Thus, according to Dune Analytics, the number of independent DeFi addresses has grown by 233% this year.
According to Dune Analytics, the number of DeFi unique addresses exceeded 4 million on November 21. This year, the number of DeFi independent addresses has grown 233%. pic.twitter.com/0xpbhEwyx2
– Wu Blockchain (@WuBlockchain) November 22, 2021
That being said, let’s not forget the high level of theft and crime, which makes you look at DeFi differently. DeFi users and investors suffered losses of more than $ 10.8 billion in 2021, according to Elliptic.
Obviously, this tool has a long way to go before serving users around the world in a massive and secure manner.
#Unique #DeFi #Addresses #Grow