Decentralized finance, or “DeFi,” is a hot topic in the crypto world these days. From yield-bearing protocols to flash loans and everything in between, this relatively new sector of the industry has taken the crypto community by storm. But with all the excitement around DeFi, one question still remains: is all of it built on Ethereum?
The answer, simply put, is no. While the Ethereum blockchain does host the majority of DeFi protocols and applications, there are a growing number of projects that are built on other blockchains.
NOTE: WARNING: Is All DeFi on Ethereum? No. Although Ethereum is the most popular platform for Decentralized Finance (DeFi) applications, there are other platforms that support DeFi applications such as Bitcoin, EOS, Cosmos, and more. Therefore, it is important to do your own research before investing in any DeFi application to make sure it is on the right platform for you.
For example, the Tron network recently launched its own DeFi platform called just “Tron DeFi.” This platform includes a variety of protocols and applications, all of which run on the Tron blockchain.
So while it’s true that most DeFi protocols are currently hosted on Ethereum, that doesn’t mean that all of them are. And as the sector continues to grow and evolve, we can expect to see more and more DeFi projects popping up on a variety of different blockchains.
7 Related Question Answers Found
Decentralized finance, or “DeFi,” is a hot new industry built on Ethereum that’s worth over $1 billion and growing rapidly. But not all DeFi projects run on Ethereum. In fact, many DeFi projects are built on other blockchains like EOS, Tezos, and Polkadot.
Decentralized finance, or “DeFi,” is a catch-all term for the various financial protocols and platforms built on Ethereum. These protocols and platforms provide a wide variety of financial services, ranging from lending and borrowing platforms to stablecoins and tokenized BTC. While DeFi protocols and platforms have been growing in popularity in recent months, there are still a number of challenges that need to be addressed before they can be widely adopted.
Decentralized finance—often called “DeFi”—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on the Ethereum blockchain. From lending and borrowing platforms to stablecoins and tokenized BTC, the DeFi ecosystem has launched an expansive network of integrated protocols and financial instruments. Now with over $13 billion worth of value locked in Ethereum smart contracts, decentralized finance has emerged as the most active sector in the blockchain space, with a wide range of use cases for individuals, developers, and institutions. .
Decentralized finance, or “DeFi,” is a hot topic in the cryptocurrency space. Ethereum is the most popular blockchain for DeFi applications, with over $13 billion worth of value locked in Ethereum-based DeFi protocols. But what exactly is DeFi?
Ethereum is the most popular blockchain platform for decentralized applications (dapps) and smart contracts. While it is often associated with Bitcoin, Ethereum is much more than a digital currency. It is a decentralized platform that runs on blockchain technology, allowing developers to create dapps and smart contracts that run exactly as programmed without any possibility of fraud or third party interference.
IPFS on Ethereum? The Interplanetary File System (IPFS) is a protocol designed to create a permanent and decentralized method of storing and sharing files. IPFS has been gaining traction as a way to store data on the blockchain, and Ethereum is one of the first platforms to offer native support for IPFS.
Ethermon is a decentralized game built on the Ethereum blockchain that allows players to catch, train, and trade digital monsters. It is one of the first games to use non-fungible tokens (NFTs), which are stored on the Ethereum blockchain and can be traded on decentralized exchanges. The game was created by Dapper Labs, the same company behind the popular CryptoKitties game.
