What is DeFiChain?

Nov 4, 2020

The DeFi Blockchain is designed for investors in the cryptocurrency market who are looking to make their cryptocurrency work just like any other form of capital, such that they can ensure a return on investment in any market.

DeFiChain explained in 2 minutes

It is deliberately a non-Turing-complete blockchain, designed specifically for the decentralized finance (DeFi) industry. DeFi provides full functionality for this specific segment of the DLT community, sacrificing other types of functionality for simplicity, rapid throughput, and security.

The function set includes among others:

  • Decentralized lending
  • Decentralized wrapping of tokens
  • Decentralized Pricing oracles
  • Decentralized exchanges
  • Transferable debts and receivables
  • Decentralized Non-collateralized debt
  • Asset tokenization
  • Distribution of Dividends

Main benefits & technical details

DeFi Chain including its coin DFI is built on top of Bitcoin, as a fork of BTC.

DFI was never sold via an ICO, instead everything was and is distributed via Staking. This also means that the price has never been set by DeFiChain as a company - it is completely independent and a result of demand and supply.

The MainNet is live since the day of the Bitcoin halving in May 2020, and running smoothly since. This means that despite DeFiChain not even being half a year old, there is no waiting for a MainNet, Staking or anything like that, everything is already live and working right now!

Since DeFiChain is built on top of Bitcoin, which by far is the Nr. 1 coin in the industry, it benefits from Bitcoins extremely strong security and high hash power.

Compared to ETH or even BTC, DeFiChain is orders of magnitude lower in fees and super fast!

Being a non-Turing-complete blockchain makes DeFiChain drastically less prone to smart contract errors, which is incredibly important for finance transactions. Just look at a handful of the many projects that suffered due to bugs - YAMv1, LendF.me, Andre Cronje’s Eminence ...

This also means there will be no games, no casinos to clog the system and jack up gas prices like Ethereum.

In short, DeFiChain combines the best of two worlds: Bitcoin’s high security and hash power, as well as live and working Proof of Stake, making extremely fast and inexpensive transactions possible (Scalability).

If you're interested in why DFI may be the most exciting altcoin of 2021, click here.

You can buy DFI with BTC, ETH or USDT on Cake and exchanges such as Bittrex.

Right now you can also get a 37% yearly return for staking DFI or even up to 300% APY via Liquidity Mining!

Want to know more about DeFiChain and become part of an amazing community? Click here to join the official telegram group and Check out the DeFiChain "Learn" page

DeFiChain

Decentralized finance enabled on Bitcoin. A blockchain dedicated to fast, intelligent and transparent financial services, accessible by everyone.

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