Could improve EOS main-net Defi be the key to Greater Adoption?
Defi in case you didn't know, is the abbreviation of decentralize finance, in most people that have been involved in the crypto world for any length of time, would probably agree with the statement that decentralize finance, is likely the future of global finance in general. I would most certainly agree with such a statement, and as over the years we have seen the massive increase of usage and creation of new decentralize capable platforms. It has become clear that this sentiment is pretty much become the most prevailing one. But even so, in terms of most used Defi platforms, EOS main-net is often overlooked by many developers, even though arguably the EOS-IO platform allows for the most sophisticated creation of smart contracts. So, in this video we will be going over a recent article I read by Yves La Rose called “In Support of the EOS DeFi Ecosystem” and I will be giving you my opinion, on what I believe it means for EOS main-net, links to the source article will be in the description below, OK now let’s get started. In Support of the EOS DeFi Ecosystem | by Yves La Rose | Oct, 2021 | Medium
Just my opinion, but the overall assessment for this article is spot on, decentralized finance is the bread and butter of any programmable blockchain platform, and none arguably does it better then EOS main-net itself, yet it has some of the least adoption in comparison to its nearest competitors. As this article rightly pointed out, in large part this is likely to do with, EOS main-net not having any real native stable coins that have significant on and off ramps, currently the closest stable coin that we have to this is, USDT tether. Yet, the EOS version of tether has very few Fiat on and off ramps, addressing this problem will go a long way into stimulating future adoption by decentralized finance developers, who overwhelmingly get paid in crypto. This is a crucial area to address if we hope to ever create as rich of a developer ecosphere, as larger networks like Ethereum. The big takeaway for me was and I quote, “To realize its full potential, EOS must be tuned for both imports and exports. The ENF is also aiming to make it easy for existing initiatives to expand to EOS. This will be accomplished by focusing on improving the native EOS developer experience and on EVM compatibility, which will enable existing EVM-based applications to be deployed on EOS without requiring large code modifications and will enable EOS to tap into an enormous reservoir of developer talent.” End Quote. Arguably this is the most significant thing that can happen, within the next couple of months to a year, in my opinion. I cannot communicate enough how crucial it is to create more direct connections, to other more mature blockchain ecospheres, this alone will likely have the biggest impact on price, and at the end of the day, for most crypto holders price is one of the foremost concerns. By EOS main-net adopting more of a collaborative stance what other blockchain technologies, this alone will go a long way in addressing much of the negative perception. As well as allowing other blockchain communities to see EOS main-net more as a useful developer tool, rather than a direct competitor. The future of blockchain is interconnectivity, and arguably the more interconnected we become with the rest of the blockchain world, the more we will be adopted. And the greater positive upward impact this will have directly on EOS main-net price. To all EOS holders, interconnectivity is the future. If you liked this post from Cryptowriter, why not share it? |
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