In the fast-paced, innovative world, it is easier to forget that innovation is meaningless if it compromises users’ security. User security is always the most crucial part that the project must ensure while bringing new innovative and exciting tools to reality.
A decentralised environment was developed with the vision of creating a secure, community-focused and unrestricted environment where global users can connect and participate in the evolving sector of blockchain technology. Decentralised finance is a safer, faster and global alternative to centralised finance that has become extremely popular because of its plethora of opportunities.
However, while decentralised finance ensures security, certain bad actors try to disrupt the smooth flow and scam the users out of their money. To ensure decentralised finance remains a safe space for all the users, it is vital to deploy security protocols.
How is Decentralised Finance secured?
Decentralised finance utilises blockchain technology, the building block for the cryptocurrency ecosystem. A blockchain is a distributed and secured database where all the transactions related to digital currencies are recorded. Blockchain technology is an encrypted ledger where it is nearly impossible to edit and manipulate data.
Decentralised finance is utilised to create a digital financial system for digital currency transactions and plays a vital role in the growth of the entire cryptocurrency system. It is crucial to ensure the security of the decentralised environment as it houses users’ assets and records of all transactions.
As decentralised finance utilises blockchain technology, it is inherently secure. Moreover, DeFi projects deploy several security protocols and perform regular checks and audits to ensure the safety of its users. Decentralised Autonomous Organisations or DAOs also play a crucial role in ensuring the security of the users by distributing the control to the users and community. One of the exemplary DAO that ensures the safety of its users is Asgard DAO.
Asgard DAO is a new category-defining asset class that allows smart investors to build their portfolios using hedging. It is a decentralised treasury-backed currency developed on Binance Smart Chain that can maintain the token price to a minimum of $1. However, as Asgard is not pegged to anything, it can value over $1, making a great investment opportunity with minimised losses.
Asgard DAO has taken several steps in ensuring the safety of its users, with the most vital one being the DAO. Using the DAO model, every user with more than 1% of the current supply of the native token $ASGARD can vote and suggest the project’s development.
Asgard DAO also utilises the potential of DeFi 2.0 to ensure the security of the decentralised environment. To learn more about Asgard DAO, visit https://www.asgarddao.live/.
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