Despite all the benefits that DeFi offers, there are some problems and challenges that should be addressed. The future success of the ecosystem depends on accurate and secure data that is free from manipulation and thus less vulnerable to exploits, which requires the implementation of quality-control mechanisms. Improving transaction speeds and the peer-to-peer aspect also remain among the important issues in order to gain wider adoption and sustainability to the industry.
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Undoubtedly, Ethereum has been overtaking Bitcoin (BTC) as the leading DeFi protocol infrastructure and network. Nonetheless, some experts state that “it’s hard to imagine a future where BTC is not used in DeFi products,” while others claim that Bitcoin “will eventually be forced to break its 21-million supply limit to remain sustainable and relevant” as DeFi keeps growing and flourishing. Cointelegraph reached out to experts in the DeFi space for their opinions on the following question:
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Ajit Tripathi from Aave, a Leading DeFi Platform, Comments on Differences Between Technical and Economic Decentralization
Lex Sokolin, CMO at blockchain firm
ConsenSys and Co-Head of Fintech and DeFi at ConsenSys Codefi, recently engaged in a conversation with
Ajit ‘Half Boomer’ Tripathi, the Head of Institutional Business at
Aave (AAVE), a leading decentralized finance (DeFi) platform.
2/ We covered a lot of ground, including exploring everything from traditional finance, to enterprise blockchain and DLT consulting, to full-on decentralized finance. Here s a short quote from our conversation: pic.twitter.com/GbY3q1LHWs
Sokolin noted that they were joined by one of his former colleagues from Consensys, a Brooklyn, New York-based Ethereum (ETH) development studio.
MetaMask Targeting Institutions With New Enterprise Wallet
Last Updated: 11 December 2020
MetaMask stands as an Ethereum wallet, and is aiming to pull in the institutional investors of the world into the decentralized finance (DeFi) space. It will do so through an institutional-grade wallet it aims to launch quite soon.
Plans For Institutional Innovations
MetaMask itself stands as a popular wallet in its own right, boasting an excess of 1 million active users a month. In October of this year, MetaMask even introduced token swaps, with plans of expanding its offering even more.
ConsenSys Developers had already identified that professional trading firms simply find DeFi protocols too inefficient at this time, noting the complete lack of robust tax, accounting, and P&L reporting services.