Do you want to learn everything about DeFi, inside and out? Can you handle it?
With its year-to-date growth of more than 15x in total
value locked, and more than $11 billion committed to the protocols,
decentralized finance (DeFi) has become a mainstay in the crypto
industry, and a whole new industry in itself. Meanwhile, its shape as a
concrete market has not been defined with substantial confidence.
A
major shortcoming of DeFi research to date has been its focus on
individual projects or simple metrics, such as financials. A systematic
overview capturing the essence of the industry and professionally
describing it in depth is missing. To address that, Cointelegraph Consulting and Byzantine Solutions have conducted fundamental research on decentralized finance, from the ground-up to complex effects and existential risks.
Redefine 2020: A Primer. Where Decentralization Meets Finance
is a landmark study that aims to significantly raise the bar for future
research on DeFi. It sets a precedent for a market-wide examination,
from the core properties to complex inter-protocol effects and emergent
dynamics.
The paper draws a complete map of the industry
through common conceptual patterns, recurring ideas, typical problems
inherent to the decentralized setting, and the approaches to address
them. The high point of Redefine 2020 is the side-by-side
comparison of traditional finance and its hindrances versus the natural
properties that decentralized finance can leverage to build a better,
more resilient system with much greater accessibility and lower
friction.
Redefine 2020 is written by economists and
industry professionals, it uses professional terminology and assumes the
readers are familiar with the concepts of blockchains and smart
contracts, as well as financial instruments and their applications.
source link : https://cointelegraph.com/news/the-first-fundamental-study-of-defi-from-ideas-to-mechanisms-to-the-new-finance
