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05 December 2020

Polkadot Leads Blockchain Into The Era Of Decentralized Finance (DeFi) | BTCMANAGER

Polkadot Leads Blockchain Into The Era Of Decentralized Finance (DeFi) | BTCMANAGER


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Just like Ethereum, Polkadot provides a platform for startups to create decentralized applications (Dapps).

This is evident in the fact that everyday users are now finding easier ways of extracting value from the cryptocurrency ecosystem.

The role of Polkadot in this case is similar to what Ethereum has done to the world of decentralized applications (Dapps).

The difference in this case is that unlike Ethereum, which made it easy for developers to create decentralized applications, Polkadot goes a step further to permit interchain interactions within its ecosystem.

The fact that over the years, it is either you’re in or out, that is why the majority across the mainstream have been unable to find a meeting point with the world of decentralized technology.

This particular aspect was addressed to a large extent by the innovation that was introduced by the Ethereum blockchain as mentioned above which lowered the entry barrier by providing the tools for building Dapps.

This is a concept that is attracting a lot of interest, and encouraging exploration of decentralized technology, especially from quarters that haven’t shown significant interests in the past.

There is no doubt that this is still early days for the blockchain industry and decentralized technology.

The developments that we are experiencing, especially with innovations like Polkadot are bound to stretch our minds and expect that the evolution of blockchain and emerging technology still has a whole lot to offer

Just like Ethereum introduced the industry into the era of decentralized applications, perhaps the new season of decentralized finance is being heralded by the Polkadot project.

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