How RSK Is Bringing DeFi to Bitcoin

Decentralized finance, better known as “DeFi,” has taken the cryptocurrency industry by storm over recent months. This industry sector has gained increasing traction as investors see the need to earn yields on their capital. DeFi applications have garnered $12 billion in deposits, per a number of data sources. Innovators in the space have found ways to leverage smart contracts to build financial applications, increasing the utility of cryptocurrencies. Furthermore, the concept of decentralized financial services is fundamentally in line with encroaching on the monopoly of traditional financial systems. The issue is: DeFi has been centered around Ethereum thus far. This has meant that Bitcoin, which investors like Anthony Pompliano call the “original” DeFi application, has not been able to truly play a role in blockchain-based financial applications. Even with tools that allow users to “wrap” Bitcoin for usage on another chain, BTC holders currently cannot trustlessly leverage their capital in…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE