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Defi accelerates the new development of blockchain smart contracts

Time : 04/12/2021 Author : tsjz2m Click : + -
        On July 12, the Ministry of industry and information technology publicly solicited opinions on the three-year action plan for the high-quality development of the network security industry (2021-2023) (Exposure Draft) today. It is proposed to develop innovative security technology, accelerate the application of blockchain based protection technology, and promote the development of multi-party authentication, trusted data sharing and other technical products. Decentralized Finance (defi) ushered in its first year, and defi achieved leapfrog growth last year. Although it seems that the underlying network is the only factor that hinders defi, Ethereum has not relaxed. Both DFI and Ethereum (ETH) performed very well. Although some community members believed that this was very similar to the foam boom triggered by the initial release of token in 2017, many facts proved that it was not the case.
        Scallop technology believes that defi has injected fresh power into the cryptocurrency field and spawned countless new tokens, which have completely changed the decentralized lending service. The surge in user usage of uniswap has provided the power for the DFI engine for quite a while. From July to September 2020, the average daily trading volume increased from about US $1million to US $1billion. Uniswap is not constrained by the order book method, and can execute orders on the chain, which means that transactions are directly carried out and settled on the network, which makes the use of smart contracts on Ethereum soar to a record high. As mentioned above, scallop technology firmly believes that the future is a multi chain world.
        From the perspective of value capture, we can divide the blockchain world into a three-layer concentric circle structure: bitcoin and Ethereum are at the innermost layer, and their total value accounts for most of the current blockchain market. The second layer, circle1 or C1, includes all layer-2 networks of Ethereum, various side chains, and other so-called layer1 public chains. All DAPP applications developed based on contracts belong to this layer. Scallop technology said: "although the income farm is not sustainable, it has helped guide the industry and attracted developers in the short term." The third layer, circle2 or C2, is a variety of blockchains for specific applications, application-specificblockchain, or appchain for short.
        These appchains are used to host various landing applications that are in line with the real world, namely web3.0app. In this way, we can see that defi currently relies entirely on the Ethereum platform, especially the composability between defidapp and eth, which is the main source of collateral and stability. However, there may be other problems on the development path of defi. These issues include the launch of eth2.0 and its potential impact on decentralized finance. The founder of makerdao claimed that with the reduction of new defidapp, its impact may be smaller than expected.
        Layering of business focus: defi and Web3.0 businesses are separated from each other, and they each focus on different concerns to solve their own problems. At the same time, we also need to develop an appropriate mechanism so that the two parts can interact and cooperate. However, in the blockchain field, defi has grown into an emerging innovation and development field. In the past, how it overcame insurmountable difficulties to grow up, there will be more growth windows in the future. Web3.0 from ideal to reality requires countless teams to fully practice in various fields. Summarize experience in practice, revise theory, and explore new programming paradigms, product paradigms, and governance paradigms.
        In the battle of the market, we can get the first-hand feedback from users, improve the product form, upgrade the user experience, and finally embark on a broad road.
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