Many new users have been attracted to the explosive expansion of the DeFi sector in 2020, seeking to explore the growing selection of finance tools and applications. Not surprisingly, large barriers exist due to complexity, high transactional fees, not to mention the inherent risk of using these relatively new platforms.
In an effort to simplify the user experience by providing a knowledge base, Cointelegraph Consulting has released DeFi Adoption 2020: A Definitive Guide to Entering the Industry. The guide features findings from Cointelegraph Consulting’s landmark survey distributed to DeFi projects in multiple regions around the world. The results examine trends within the industry related to scalability, objectives, and overall project structure.
This guide is split into three sections with the first part featuring a benchmark analysis of the industry’s landscape that defines many core concepts, introduces key terms, and explains commonly used metrics. The second section is dedicated to exploring some of the main use cases and protocols that provide the framework for more open financial tools.
In the third section, the guide analyzes some innovative projects such as Wing for their use of Ontology as an alternative to Ethereum and ForTube for their adoption of Binance Smart Chain. Enjin’s latest product Efinity is highlighted as a scaling solution for Ethereum token transfers, while YouHodler is assessed for the use of a centralized finance (CeFi) approach to asset management. THORChain’s cross-chain DEX model is explained, while money market protocol Equilibrium is also featured for their use of Polkadot’s technology to enable cross-chain lending and trades.
Download the guide, here.