DeFi projects find DeFiChain best for dApps
DeFiChain is a blockchain platform that helps power the world of decentralized finance (DeFi) on the world’s first blockchain network, Bitcoin.
Growth trends in the decentralized finance (DeFi) space point to a new phase of next-generation decentralized applications (dApps), as the application of blockchain technology expands to all products and services.
DeFiChain, the decentralized blockchain platform seeking to bring the benefits of decentralized finance (DeFi) to Bitcoin, is one such project. But why is the interest of dApps developers to rely on DeFiChain increasing?
Here are some of the main reasons why this is increasingly the case.
Build DeFi dApps rooted on the most secure blockchain network
DeFiChain leverages the security and provenance of Bitcoin to bring the best of blockchain to DeFi developers and users. Its security is anchored on the pioneering blockchain, although it uses a native network mechanism to enable smart contract functionality, scalability, and high throughput.
DeFi comes to life with DeFiChain because of its exploitation of the Bitcoin blockchain – secure proven records that can easily be verified on the blockchain and a strong community of users add to the mix of what secure smart contracts can help achieve for manufacturers and users.
A carbon neutral network
Although DeFiChain leverages the security of Bitcoin, it remains a proof-of-stake network – which is a more energy efficient consensus mechanism and has helped DeFiChain achieve carbon neutral status long before so many other cryptocurrency platforms. the ecosystem.
The DeFiChain network also continues to work on offsetting the CO2 emissions that accompany daily activities on the network.
As Bitcoin miners increasingly embrace and use renewable energy to secure the network, DeFiChain is already delivering what leading POS-grade blockchains, including “in-transition” Ethereum, are struggling to. achieve.
DeFiChain is community owned and community driven
Decentralization is an essential cog in the DeFi ecosystem, but this aspect is often not considered to apply in reality when it comes to certain platforms. Indeed, core developers, to a large extent, retain control as they coordinate and direct network development.
DeFiChain has no such escape from a “centralized” feel in a supposedly decentralized environment. The blockchain is fully community owned and is open to DeFiChain Improvement Proposals (DFIP) from anyone within the community.
Benefit from the DeFiChain Accelerator
You have Bitcoin’s security, community-driven development, and carbon neutrality as some of the reasons to take the DeFi journey through DeFiChain. However, there is another – the value of native DeFiChain Accelerator.
With the Accelerator feature, builders have the opportunity to receive personalized support, including financial support, that can help kick-start and propel a project to the next level of adoption. A recent report on the growth of DeFiChain shows that the Accelerator program has played a huge role in boosting new dApps. The program is being expanded to meet the needs of US-based developers – another important step in efforts to bring DeFi to Bitcoin.
Conclusion
DeFiChain offers an excellent ecosystem for any DeFi dApps developer, including leveraging Bitcoin’s robust network security to protect both the teams bringing projects to the ecosystem and the consumers looking to exploit the opportunities available.
Just to put this into context, one of DeFi’s biggest concerns is security, with an increasing number of breaches across different protocols highlighting this stain. As blockchain security firm Chainalysis pointed out in a recent report, over 90% of crypto attacks in 2022 were on DeFi protocols.