DeFiChain is a blockchain platform that is helping to foster the world of decentralized finance (DeFi) on bitcoin, the world’s leading blockchain network.
The development trend in the decentralized finance (DeFi) space points to a new phase of next-generation decentralized applications (DApps), as the application of blockchain technology expands into products and services.
DeFiChain, a decentralized blockchain platform seeking to bring the benefits of decentralized finance (DeFi) to bitcoin, is one such project. But why is there increasing interest among dApps developers to build DeFiChain?
Here are some of the major reasons why this case is growing rapidly.
Build DeFi dApps anchored on the most secure blockchain network
DeFiChain leverages the security and origin of Bitcoin to provide the best blockchain for DeFi developers and users. Its security rests on the leading blockchain, even though it uses a native network mechanism to allow smart contract functionality, scalability, and high throughput.
DeFi comes alive with DeFiChain because of the benefits of the bitcoin blockchain – it’s secure records that can be easily verified on the blockchain and a strong community of users add to the mix what secure smart contract builders and users achieve. can help to do.
a carbon-neutral network
While DeFiChain taps into the security of bitcoin, it remains a proof-of-stake network – a more energy efficient consensus mechanism and one that helped DeFiChain achieve carbon neutral status before many other platforms in the ecosystem Is.
The DeFiChain network also continues to work to offset the CO2 emissions that come with daily activities on the network.
As bitcoin miners increasingly adopt and use renewable energy to secure the network, DeFiChain is already offering major blockchains in the PoS category, including the ‘transition’ Ethereum, to achieve are fighting for.
DeFiChain is community-owned and community-driven
Decentralization is an important part of the DeFi ecosystem, but this aspect does not apply in reality when it comes to certain platforms. This is because core developers, to a large extent, remain in control as they coordinate and lead network development.
DeFiChain is believed to have no such flaws in a decentralized environment to feel ‘centralized’. The blockchain is wholly owned by the community, and is open to DeFiChain Improvement Proposals (DFIP) from anyone within the community.
Benefit from DeFiChain Accelerator
You have the security of Bitcoin, community-driven development, and carbon neutrality as some of the reasons to make the DeFi journey through DeFiChain. However, there is another – the value of native DeFiChain accelerator,
With the Accelerator feature, builders have the opportunity to benefit from tailored support, including financial, that can help launch and advance a project to the next level of adoption. a recent report The development of DeFiChain shows that the accelerator program has played a huge role in bringing momentum to new dApps. The program is being expanded to cater to US-based developers – another major step in the effort to bring DeFi to bitcoin.
conclusion
DeFiChain provides a great ecosystem for any DeFi dApps developer, both the teams bringing projects into the ecosystem to take advantage of bitcoin’s strong network security and to protect consumers who take advantage of the opportunities available. .
To put this in context, one of DeFi’s biggest concerns is security, with a growing number of breaches in various protocols exposing this blemish. As reported by blockchain security firm Chainalysis in a recent report, over 90% of crypto attacks in 2022 occurred on the DeFi protocol.