When was the concept of decentralized finance introduced to the cryptocurrency market?

1 answers

• Dec 31, 2021 · 3 years ago
  The concept of decentralized finance, also known as DeFi, was first introduced to the cryptocurrency market in 2013 with the launch of Mastercoin. This project aimed to create a decentralized platform for creating and trading digital assets on the Bitcoin blockchain. However, it wasn't until the introduction of Ethereum in 2015 that DeFi gained significant traction. Ethereum's smart contract capabilities allowed for the development of decentralized applications and protocols that enable various financial services. Since then, the DeFi ecosystem has grown rapidly, with new projects and platforms emerging regularly. Today, DeFi offers a wide range of services, including lending, borrowing, decentralized exchanges, and more. The concept of DeFi continues to evolve, with innovations such as yield farming and liquidity mining pushing the boundaries of what is possible in decentralized finance.
  901451