DeFi

Developing DeFi applications is easier than ever – here’s why

Published

8 months ago

12 June, 2024

Developing DeFi applications is easier than ever – here’s why

If you’ve never developed a blockchain application, the prospect of doing so may seem daunting. Doesn’t this require strong coding experience, in-depth knowledge of cryptography, familiarity with smart contract languages, and many other skills? Not necessarily.

While some programming knowledge is certainly required and a working knowledge of blockchain is a definite advantage, everything else can be learned on the fly. With improved development resources, better tools and libraries, dapps can now be deployed much faster. Additionally, they can be equipped with powerful features that utilize innovations such as zero-knowledge technology – without the need to master SNARKs and STARKs.

In short, it is now possible to build and launch a feature-rich DeFi application without getting bogged down in compiling, debugging, indexing, and all the other tasks that Web3 development typically involves.

Better resources for developers

Four years ago, if you wanted to get started on Ethereum, you were on your own. Except for a handful of user-generated videos on Solidity basics and gas management, resources were scarce. This is no longer the case, thanks to a multitude of development-focused educational portals aimed at bringing builders up to speed. QuickNode manufacturer’s guide is probably the best place to start, detailing all the tools needed to build a DeFi application, from oracles to RPCs. While there are a lot of moving parts, each is clearly explained and, it should be noted, a typical dapp will not require all of these components.

Aspiring developers now have more than just learning resources at their disposal: the same goes for financial resources. A plethora of hackathons and grant programs now form a mainstay of blockchain ecosystems. Peas to EVM L2. These provide the support, mentoring and networking that can turn a DeFi idea into a concrete reality. As a result, developers no longer have to go it alone, working in a vacuum. Blockchain networks have the funds and will to help new developers get started.

Data on demand

A dapp is only as good as its data. DeFi dapps now typically pull data from a range of sources, both on-chain and off-chain. In the past, this meant running multiple blockchain nodes and being responsible for their maintenance and synchronization. However, the evolution of Web3 infrastructure providers now allows application developers to access powerful data feeds at the click of a button.

The best Web3 infrastructure companies provide data from on-chain and off-chain sources without introducing centralized choke points in the process. This is achieved by routing data through decentralized networks and using distributed storage to deliver content.

The way data is stored and delivered is now much more efficient, allowing thousands of read and write transactions to be included in a single block. Chromiefor example, uses relational tables that allow Web3 developers to access indexed data, eliminating the need for third-party indexers. Space and timemeanwhile, allows on-chain indexed data to be connected to its off-chain counterparts in a tamper-proof, relational format delivered in real-time.

Dapp developers may have 99 problems to solve, but data is not one of them.

Instant interoperability

One of the main characteristics of DeFi applications is that they are multi-chain. It is now common for EVM dapps, for example, to pull pricing data from other Layer 2s and non-EVMs such as Bitcoin. Deploying an application with built-in cross-chain functionality from day one is now relatively simple thanks to improvements in interoperability, including the emergence of cross-chain messaging protocols.

These allow data and assets to be securely transferred between different chains, enabling the execution of smart contracts based on actions that occur on other networks. Projects such as LayerZero provide decentralized infrastructure for DeFi dapps to extract data from multiple chains without introducing complexity. It’s one less thing for developers to worry about, allowing them to focus on their core competencies, knowing that interoperability is now the norm.

Smart Wallets

One of the biggest barriers to Web3 adoption has been the complexity associated with integration, especially when it comes to portfolio creation. Private key management may come naturally to crypto OGs, but seed phrases are something mainstream users have never encountered before, and they can prove a real barrier to adoption. The idea that 12 words can control an individual’s digital net worth — and that failing to secure those words can result in one’s wallet being depleted — is a liability many users don’t want to be associated with .

The arrival of smart wallets, which use various technologies, including MPC (multi-party computing), is a long-awaited breakthrough. Now, individuals can get started with Web3 without having to deal with private key management. Instead, they can secure their account using Web2 methods such as email authentication and 2FA. As a result, one of the biggest barriers to greater adoption of DeFi has been significantly reduced, but not completely eliminated.

DeFi developers can now integrate third-party wallets, including smart wallets, allowing users to log in using an authentication method they feel comfortable with. This is a major improvement aimed at making Web3 more user-friendly for mainstream users.

Making DeFi Less Intimidating

Over the past three years, many of the technical challenges of building a successful DeFi application have been resolved. From a developer perspective, a combination of better tools, educational resources, data delivery, and improved integration has made DeFi less intimidating, not only for users but also for those tasked with developing applications that rely on the characteristics inherent to the blockchain.

Even though DeFi development is now much more egalitarian, allowing small teams to compete on equal terms with larger projects, there are still issues to be resolved. One of the trickiest tasks is creating a loyal community which is the lifeblood of any successful Web3 project. But with the technical aspects now widely supported, developers can spend less time compiling and debugging and more time focusing on perfecting a DeFi dapp that delivers real utility.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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