What's Hot

    SXP soared 161% in a week

    02.04.2023

    Binance sued for $1 billion

    02.04.2023

    Bitcoin news and forecast for today 02 April 2023

    02.04.2023
    Facebook Twitter Instagram
    Sunday, April 2
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»Solana could be the largest DeFi platform
    e134566399004fd6a0f484252bce5adee87ffc5d
    Bitcoin

    Solana could be the largest DeFi platform

    AdministratorBy Administrator26.11.2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    bt-crow.com

    26 November 2021 15:35, UTC

    Reading time: ~ 2 m


    Founder of the FTX cryptocurrency exchange Sam Bankman-Fried said that Solana could become the largest decentralized financial platform in the process, dropping Ethereum from the top of the pedestal.

    Fried stated that Solana’s unique underlying technology for developing decentralized finance protocols will also drive up token prices.

    According to the FTX founder, Solana has the ability to scale to millions of transactions per second natively, giving the token an edge in the DeFi space.

    “Yes, I think that’s one of the most compelling things about it, is that it has the potential to scale to where things have to scale if the blockchain gets huge. And it has the potential to host DeFi apps for hundreds of millions and billions of people on top of it through a giant composable ecosystem. Again, this does not mean it will definitely happen, but the chances are great, ”said Fried.

    In addition, Fried indicated that the crypto space will continue to experience crashes and bullish runs, but several projects are likely to outlast the cycles. He stated that cryptographic protocols and projects will live a really long time, scaling and progressing, they will ensure mass adoption as blockchain technology expands.

    He also warned investors that there are many digital assets on the market right now that do not match their price. Their popularity is driven by the excitement among those without financial literacy. He added that advertisements and popular figures are trying to sell us so-called meme coins that have no real value.

    Freed stated that investors should avoid meme coins with anonymous users and also verify token holders. He noted that coins, the reserves of which are more than 60%, allocated to several individuals, should be approached with caution. A striking example is Shiba Inu, most of which are owned by only a few wallets. It is the whales who decide where the price will go next – up or down.

    “I think, in general, the projects that you think survive the best are the ones that have a lot of dedicated followers and those that have important use cases. I think the ones that looked more like hype were more likely to fail. But if you look at projects that either have a lot of real adoption or the potential for a lot of real adoption, these are projects that loyalists will support even during a bear market. And so I think you are looking at blockchains that could be widely adopted. You are looking at different exchanges and other infrastructure players will be key in this space in the future, ”Fried said.

    Solana is worthy of attention

    Overall, Fried noted that the crypto sector is likely to grow over the next five years, mainly driven by potential institutional investment. He said that the possibility of more organizations joining the sector would stimulate capital inflows into the sector. Therefore, blockchains such as Solana or Cardano, which have high potential, need to grow it by adding various options for its use.




    #Solana #largest #DeFi #platform

    DeFi largest platform Solana
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    Bitcoin news and forecast for today 02 April 2023

    02.04.2023

    SpaceX will deliver a chest with a private key to 62 bitcoins to the moon

    01.04.2023

    Bitcoin Copernicus Forecast

    01.04.2023

    Bitcoin ended March near $28,500

    01.04.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • SXP soared 161% in a week
    • Binance sued for $1 billion
    • Bitcoin news and forecast for today 02 April 2023
    • Uniswap Labs lost exclusive rights to the code of the third version of the protocol
    • One Indicator Points to the End of the Bitcoin Bear Market
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.