ConsenSys Blog Post States “Decentralized Finance Ecosystem Is Flourishing”

As per a blog announcement by ConsenSys, a company that is providing Ethereum based solutions, things are looking good for the world of decentralized finance with a lot of promising crypto and finance tools developed everyday on the Ethereum platform. As per the blog, there are currently a 100 such projects currently being developed.

The blog post states,

“From stablecoins, decentralized exchanges and wallets to payments networks, lending and insurance platforms, key infrastructural development, marketplaces, and investment engines — the decentralized finance ecosystem is flourishing.”

As per the company’s official website,

“ConsenSys is a global blockchain technology company building the infrastructure, applications, and practices that enable a decentralized world.”

As per the blog, there are lucrative opportunities for both new players in the market and existing traditional institutions to get on board.

“What’s now emerging is a vast spectrum of decentralized finance: On one end, open finance platforms that empower individuals around the world in engaging with new and remodeled financial systems. On the other, decentralized finance solutions are changing the approach of established institutions by bringing decentralized solutions into play. All in all, decentralized finance projects now range in the thousands, and we’re seeing the early stages of a whole new industry.”

Building onto research by firms such as ” The Block, DeFi Pulse, Delphi Digital, Github, in addition our deep dives into ‘The State of Stablecoins’ and ‘The State of Decentralized Exchanges’”, the post states that they’ve compiled a list of those 100 promising projects which include everything from Stablecoins to Payment Networks. 

The Stablecoins the post lists includes the likes of the Winklevoss Twin’s Gemini Dollar, Digix, Dai, USDCoin and StableUnit among others. Moving onto projects that have been built on the Ethereum infrastructure, the post lists Settle, Connext, Ox, Foam and many others. Payment Networks are perhaps the most popular use for the Ethereum blockchain and include, Raiden, GroundHog, Request and Ink Protocol among others. Last but definitely not least, the list for Crypto exchanges include Khyber, IDEX, Loopring and Centrifuge along with many others.

Komal Zaheer

Writer. Procrastinator. Bra Burning Feminazi. Likes to make people laugh. Student of Journalism.

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