DeFi Continues to Grow on Ethereum Ecosystem

• Decentralised finance has been one of the many things in the crypto industry to gain some momentum over the past couple of months.
• In fact, the biggest milestone at the minute is surpassing the $1 billion total value locked mark.

Decentralised finance has been one of the many things in the crypto industry to gain some momentum over the past couple of months. In fact, the biggest milestone at the minute is surpassing the $1 billion total value locked mark.

The way Ethereum uses decentralised financed (DeFi) is one of the many roads that it continues to go down in expansion. This is because most of the decentralised ecosystem is built on it. Whilst discussing decentralised finance being the most important applications of Ethereum, the founder of DeFi-focused newsletter, The Defiant, Camila Russo said the following:

“I think the reason why finance has become the main use case for Ethereum at this point is because it’s one major aspect in the non-blockchain, traditional economy that feels just so ancient and so ripe for disruption. We’re still depending on many intermediaries, we still have to pay such high fees, we’re still limited to where we are born, to what financial services we get. There are many barriers to how value and money can move.”

Even though it was highlighted that there is Internet of content, she went to add onto the conversation for a need of Internet of value. The author believes that blockchain fixes some of the fundamental problems but thinks a having a real Internet of value has potential.

Even though the creation of the leading cryptocurrency was just the initial step towards this, she believes that Ethereum “can and is taking it further with programmable money”, by allowing “use cases for value being used in a decentralised way”.

“This is just such a huge thing that needed to happen, to have a way to really be in control of your own value. When Ethereum provided a way to do this, is when you’re seeing a real use case and fit that people are really excited about.”

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