Decentralized Finance, or DeFi, inspired by its older cousin, blockchain, works on the same methodology—it allows multiple entities to access the history of transactions, details, and everything in between. It just takes the movement a step further. How? you ask. Imagine a scenario where everyone with a basic smartphone and internet can access every financial service, from loans and insurance to credit cards and trading. Even after decades of deployment of the internet, the majority of people thought of it as a fad – a dazzling display of breakthrough innovations and state-of-the-art tech infrastructure is a testimony to the growth of the internet today. Likewise, DeFi will have parallels to it. It’s an open architecture and is designed to be like the internet – decentralized but with layers to it. It’d be self-defeating and myopic to overlook the potential of DeFi at this point since it’s (take our word for it) here to stay. Take Token BOND, for instance recorded around a or a rise in price of next gen blockchain protocol. These numbers weave a story for the bright future for DeFi with the very fabric of promise in it. While the services will multiply, it’s only the elimination of middlemen making the process simpler. 200% increase Enters Solana Also considered the "Ethereum killer," Solana is one of the fastest blockchain networks capable of hosting decentralized apps. It makes it easier to simplify complex financial transactions, thanks to the speed, which is ! Unlike Ethereum, Solana uses Proof of History (PoH), which helps improve the efficiency of transactions by adding timestamps to it. 400 millisecond block times Even after decades of deployment of the internet, the majority of people thought of it as a fad – a dazzling display of breakthrough innovations and state-of-the-art tech infrastructure is a testimony to the growth of the internet today. Likewise, Solana has parallels to it. It’s an open architecture designed to be like the internet – decentralized but with more layers and transparency. Here’s how Solana is making the blockchain space better: There are other revolutionary methods out there, but they have their own inefficiencies due to slow speed throughput speeds, say 3-6 transactions/second. The offers split-second transfers, which means merchants can receive real-time crypto payments which can be spent or redeemed almost immediately. - High Speed: Solana Blockchain The Solana blockchain allows composability between multiple users by maintaining a single network across the globe as it scales. No more sharded chains or layer 2 networks! - Scalability: Solana’s customized blockchain platform reduces transaction costs. With a flat-rate transaction cost of $0.01 for both users and developers, the highly secure nature of the Solana Blockchain platform protects merchants and users from spam attacks. This encourages merchants and users to adopt the Solana payment platform at a highly economical cost and to eliminate the limitations of existing traditional blockchain solutions. - Low Transaction Cost: While it might be impractical to persuade traditional merchants and businesses to adapt to existing cryptocurrency payment solutions, Solana’s Blockchain solution enables merchants, retailers, businesses, and online e-commerce platforms to adopt cryptocurrency transactions and payments as a preferred mode of payment with various features. - Multiple Merchant Facing Functionalities: Top 4 DeFi platforms built on Solana: With 400+ projects built on the platform, the Solana ecosystem is growing and how! Here are a few projects that have contributed to the core DeFi projects: 1. Serum - the DEX Solana's low-cost and fast-speed transactions make it an ideal platform for any decentralized trade. Co-founded by the CEO of FTX Trade, Serum is a "permissionless" blockchain and DEX biological system based on Solana. Serum plans to develop decentralized trades by bringing every one of the advantages of a unified trade to the DeFi space. It is one of the main DEXes in the crypto space that is planned with an orderbook-style trade, offering an interface that helps brokers improve the client experience of unified trades given by computerized market creators. These features are additionally matched to the advantages of decentralized trades, like total security and transparency of decentralized hub engineering. This implies there are no KYC necessities and that clients can add their own business sectors without paying enormous expenses to a unified element to be recorded on the trade. 2. Raydium - the Automated Market Maker Isn’t it a perfect deal to have decentralized trades that are low-cost and quick to utilize? Yet one of the greatest difficulties in DeFi is to source liquidity, or money holds that can be utilized to ensure dealers can close their orders as close as conceivable to their ideal cost. Like Serum, Raydium gives on-chain liquidity options to an order book, making the client experience better and more recognizable. Truth be told, both of the ventures are intently connected, implying that clients of Raydium can get to the request stream and liquidity of the whole Serum biological system as well as the other way around. 3. Oxygen - the Decentralized Bank A must-watch in 2022 is the application developer that assists token holders with tracking down various purposes for similar collateral. Oxygen is a Brokerage Protocol that allows token holders to loan, get, procure yield, and create liquidity/exchanging influence simultaneously. So rather than simply having the option to procure revenue by loaning your resources, Oxygen clients can then get cash against those lent resources, so they actually have money to spend or exchange. Based on the order book, the Oxygen Protocol guarantees that loaning and acquiring rates are genuinely founded on the most recent market activity. 4. Saber - the Stablecoin Hub Saber is one of the major dApps based on Solana that are total value locked. Stablecoin liquidity is essential to DeFi, on the grounds that stablecoins serve countless capabilities in the environment. Market producers can store crypto into a Saber liquidity pool to procure yield from exchange charges, get a few token-based motivators and advantage from robotized DeFi procedures, which saves a ton of time physically pursuing the best yield across various pools and dApps. Solana is making the blockchain world better, one transaction at a time!
