ConsenSys: " The decentralized finance ecosystem is flourishing"

30 Mar, 2019 | Updated: 10 Apr, 2019
by David Borman
News
ConsenSys:  The decentralized finance ecosystem is flourishing

ConsenSys, an Ethereum based technology company, announced on its blog recently that there have never been so many promising decentralized finance tools being developed on Ethereum as there are now. The post claims there are over 100 projects being worked on, and outlines several of the most popular.

To quote the blog:

"What’s now emerging is a vast spectrum of decentralized finance: On one end, open finance platforms that empower individuals around the world in engaging with new and remodeled financial systems. On the other, decentralized finance solutions are changing the approach of established institutions by bringing decentralized solutions into play. All in all, decentralized finance projects now range in the thousands, and we’re seeing the early stages of a whole new industry."

The post then goes on to list some of the biggest names across various financial tools, and here are some highlights:

Payment Networks:

Multiple examples are given, including xDai Chain, home of the USD-pegged xDai token, as well as OmiseGo, a popular token who's team is looking for ways to make scalable payment solutions. Also Raiden, which is effectively Ethereum's answer to the Lightning Network.

Stablecoins:

Ethereum is the home to many popular stablecoins, including Dai, USDCoin, and the Winklevoss' Gemini Dollar.

Infrastructure:

Multiple projects are using Ethereum to build their own financial platforms, for example Connext, a peer-to-peer micropayment systeml, or 0x, which is looking to enable anyone to make a decentralized exchange. And speaking of exchanges...

Exchanges:

There is no shortage of exchanges or other liquidity agents running on Ethereum. A short list includes: Airswap, Omega One, Ethfinex, Kyber, IDEX, Loopring and Bancor, just to name a few.

All in all, it is looking good for the future of decentralized finance tools. Some of these projects may be direct competitors, whereas others may compliment each other. Which will survive to power tomorrows financial industry? Stick with Chepicap to find out.

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