Can the rapid development of Ethereum decentralized finance trigger the next round of blockchain bull market?
Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), Author: Wayne, reproduced by Odaily with authorization.
Vernacular Blockchain (ID: hellobtc)decentralized financeVernacular Blockchain (ID: hellobtc)
, Author: Wayne, reproduced by Odaily with authorization.
Historical experience shows that technical achievements and major events will be the triggers for the Bitcoin bull market. Many recent signs reveal that the increasingly prosperous ecologydecentralized financeOr it may trigger the next round of Bitcoin bull market.First, let’s review the triggers of past Bitcoin bull runs.bitcoin forksmart contractThe emergence of the Bitcoin bull market in 2017-2018 is due to the rise of the second round of altcoins and ERC-20
decentralized finance
smart contractThe Token tide promoted. In the upcoming 2020, the situation is very similar to 2017. Bitcoin is a currency with great liquidity, and decentralized finance from Ethereum may trigger the next round of bull market.secondary titleKYCDecentralized finance is a movement that utilizes all decentralized networks to revolutionize old financial products with a view to becoming trustless and transparent protocols that will remove the need for middlemen such as banks. All applications of decentralized finance are powered bystable currencyEthereum Smart Contracts
Provides support and is fully distributed and transparent. It can be used for payments, peer-to-peer BTC exchanges, loans, DeFi (know your customer) authentication,MakerDAOstable currencyDai, asset management, tokenization and decentralized trading platforms and other financial fields.
with the offer
Serving a proliferation of platforms and products, decentralized finance has been on a roll over the past few months. Decentralized lending platform
in its stablecoin
has come to the fore in adoption, but it is only one part of a growing ecosystem.
For example, Bloqboard’s recent report on open lending protocols highlighted that active outstanding loans on four open lending protocols (MakerDAO, Dharma, dYdX, and Compound Finance) grew 1,200% in 2018 to $72 million.
DApp
So, what exactly are the main areas of open finance on Ethereum? Let’s take a look at the most popular products — open lending protocols, issuance platforms and investments, prediction markets, trading platforms and open markets, and stablecoins. Open lending protocols have probably garnered more attention than any other category of open finance on Ethereum. Decentralized lending is getting a lot of attention thanks in large part to the explosion in the use of Dai and other P2P protocols like Dharma and liquidity pool designs like Pound Compound Finance.
Open, decentralized lending has many advantages over traditional credit structures: integration with digital asset borrowing/loaning, digital asset collateral, instant transaction settlement and novel secured loan methods with no credit checks, etc., which means that This type of lending can reach people who don't have access to traditional financial services, and standardization and interoperability can reduce costs through automation.
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Devcon 5
DApp.com recently released its Q3 market assessment report, comparing the most popular blockchain networks. In the third quarter, Ethereum had the most active users, with more than double the number of addresses of the second-placed TRON. Ethereum added nearly seven million new mainnet addresses during this period, and Ethereum has the highest percentage user growth rate compared to the second quarter.
Where is all this growth in Ethereum coming from? Not spinach, not a game, but from a decentralized financial application. In the third quarter, the total transaction amount of Ethereum DApps reached 804 million US dollars, and the transaction amount of DApps in the financial field accounted for 58%. If 18% of the transaction platform field is also included in the category of decentralized finance, Ethereum goes The actual proportion of centralized financial DApp transaction finance is as high as 76%.
DApp.com pointed out in its third-quarter report that decentralized finance showed rapid growth in the third quarter. In the third quarter, the transaction volume of decentralized financial DApps reached $525 million, while Ethereum decentralized The proportion of DApp in the financial field exceeds 88% of the total transaction value. This impressive achievement can make Ethereum look down on TRON, EOS and Bitcoin.
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The Ethereum Enterprise Alliance held the Ethereum Developers Conference Devcon 5 in Osaka on October 8. At the meeting, it demonstrated a reward Token system called "Token Taxonomy Initiative", referred to as "TTI", which is supported by Microsoft and Intel. The new system uses Hyperleger Besu, an enterprise Ethereum client based on the EEA standard.
EEA API
The system was developed by the EEA Trusted Computing Working Group, EEA member and ConsenSys expert Dr Andreas Freund said: "This work demonstrates that seven disparate EEA members can successfully collaborate to combine emerging technologies in novel ways to bring benefits to the enterprise. to new economic benefits."Oracle。
According to experts, TTI is a specification at the Token level, and its generalization can attract the participation of other companies such as IBM, and the interconnection and interoperability of blockchains will increase in the future. This means that as long as Token is issued in accordance with the "TTI" rules, even on different chains, cross-chain and interoperability can still be performed.
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In addition to these actions in terms of market and business relations, in terms of development and architecture, EAA announced the Off-Chain Trusted Compute Specification (Off-Chain Trusted Compute Specification) V1.1. It is a set of application programming interfaces (APIs) that allow transactions to be computed "off-chain" elsewhere, and the summaries transferred "on-chain" to improve scalability and latency, support verified
Oracle
