The Best DeFi Cryptocurrencies in 2023

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Decen­tral­i­sa­tion is a beau­ti­ful thing. You are the sole own­er of your mon­ey, to trade with any­one and any­where while keep­ing your anonymi­ty intact and hav­ing no over­seers con­trol your trades to lim­it your free­dom to spend!

Still, it’s been a long, drawn-out bat­tle secur­ing decen­tralised finance (DeFi) amongst cryp­to com­mu­ni­ties. Cryp­tocur­ren­cy was the cho­sen one to secure DeFi for the mass­es, but in recent years, cryp­tocur­ren­cies have been at the fore­front of con­tro­ver­sies being exposed for their flawed centrality.

The hero’s here to save the day for DeFi are Ethereum, Doge­coin and DogeMiya­gi, but which cryp­tocur­ren­cy has the best strat­e­gy to bring us true and authen­tic DeFi?

Is Ethereum Decentralisation still debatable after the network upgrade?

Ethereum (ETH) is the lead­ing blockchain net­work that was one of the first to ush­er in DeFi by giv­ing users the pow­er to mine cryp­tocur­ren­cy with their com­put­ers. How­ev­er, Ethereum decid­ed to ditch the cryp­to min­ing process for its net­work with its Ethereum 2.0 upgrade, which had many users up in flames—that their trusty DeFi net­work was about to aban­don decentralisation.

How­ev­er, Ethereum 2.0. is prov­ing to be more favourable for its new Proof-of-Ser­vice mech­a­nism, that’s more ener­gy-effi­cient, cost-effec­tive and with bet­ter trans­ac­tion per­for­mance than Ethereum’s pre­vi­ous Proof-of-Work (PoW) method that required cryp­to min­ing. This makes Ethereum 2.0. eas­i­er for indi­vid­u­als to scale up their busi­ness­es with­out need­ing a large budget—the net­work is now for every­one to build a busi­ness from scratch.

As more users join the net­work with new DApps and Ethereum-based cryp­tocur­ren­cies, the net­work will con­tin­ue to diver­si­fy with more options to stake cryp­to with. Cur­rent­ly, Ethereum is one of the most open DeFi net­works on the mar­ket, as oth­er cryp­to net­works, such as VeChain, use restric­tive access to use their blockchain network.

Dogecoin still the OG Meme Coin for decentralisation?

Back in 2023, a cryp­tocur­ren­cy that was cre­at­ed pure­ly as a joke, went on to make over 1,000 DOGE-made mil­lion­aires. This was the start of meme coins, a cryp­tocur­ren­cy rep­re­sent­ed by a meme, led users to buy and share it as a meme—gave the meme coin value.

Dogecoin’s (DOGE) val­ue was pure­ly com­mu­ni­ty-dri­ven, with some promi­nent com­mu­ni­ty mem­bers includ­ing Elon Musk. Com­pa­nies such as Microsoft, Newegg and ExpressVPN even began to accept DOGE pay­ments! While Doge­coin is true to DeFi, poor fun­da­men­tals have held it back, includ­ing inef­fi­cient PoW min­ing and a lack of util­i­ty beyond its meme pow­er. There­fore, DOGE has begun to lose trac­tion from its com­mu­ni­ty that ful­ly con­trols the val­ue of DOGE.

DogeMiyagi’s Community-Driven approach to DeFi

DogeMiya­gi (MIYAGI) wants to be the meme coin that gets decen­tral­i­sa­tion right. It takes inspi­ra­tion from DOGE’s ear­ly suc­cess for DeFi, by using meme pow­er. MIYAGI com­bines the doge meme with Mr Miya­gi char­ac­ter­is­tics from The Karate Kid movie franchise—pulling in the cult fol­low­ing of both cul­tur­al icons.

But DogeMiya­gi doesn’t stop there. MIYAGI wants to be one of the first eth­i­cal meme coins by fos­ter­ing the prin­ci­ples of Mr Miya­gi. To achieve this, DogeMiya­gi uses the Proof-of-Stake mech­a­nism to pro­vide its com­mu­ni­ty with fast trans­ac­tions at low-cost fees. The PoS mech­a­nism is also proven to be more envi­ron­men­tal­ly friend­ly than cryp­tos using the PoW mech­a­nism of min­ing crypto.

The ‘DeFi’ Formula 2023 and onwards

Not only is Miya­gi an eth­i­cal DeFi, but it will also be a 100% com­mu­ni­ty-gov­erned coin with no cen­tral influ­ence, and every mem­ber is pro­tect­ed with anonymi­ty. This is what DOGE has strug­gled to achieve, by secur­ing sol­id fun­da­men­tals for a DeFi meme coin that can last beyond its ini­tial hype. As a result, investors are increas­ing­ly bull­ish on blockchain net­works and meme coins such as Ethereum and DogeMiya­gi for their future in DeFi.

DogeMiya­gi:

Web­site: https://dogemiyagi.com

Twit­ter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

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WARNING: The invest­ment in cryp­to assets is not reg­u­lat­ed, it may not be suit­able for retail investors and the total amount invest­ed could be lost

AVISO IMPORTANTE: La inver­sión en crip­toac­tivos no está reg­u­la­da, puede no ser ade­cua­da para inver­sores minoris­tas y perder­se la total­i­dad del importe invertido

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