Vast Majority of DApps for Finance Built on Ethereum Blockchain
- June 8, 2019
- Posted by: P2PEP
- Category: P2PEP NEWS
Most decentralized finance applications are being built on the Ethereum blockchain
Ethereum devs constitute the vast majority of Decentralized Finance (DeFi) application (DApp) creators, according to a report by Binance Research on June 6.
Number of DApps per blockchain, courtesy of Binance Research
According to the report, DeFi can be thought of as the following:
“An ecosystem comprised of applications built on decentralized networks, permissionless blockchains, and peer-to-peer protocols for the facilitation of lending/borrowing or trading with financial instruments.”
This ecosystem purports to offer a permissionless, decentralized network for users, who reportedly retain full custody of their crypto assets. According to the report, the main underpinning of this ecosystem consists of lending and borrowing platforms that support blockchain assets. One of the primary pairs of blockchain assets used on DeFi, for example, is the token MakerDao (MKR) and its sister stablecoin Dai (DAI)..