The future of DeFi between interoperability and seamless liquidity transfer services!

System view Decentralized Finance (DeFi) significantly over the past few years. Starting with the launch Ethereum (ETH) in the middle of 2015App developers around the world have begun writing smart contracts to support a wide range of decentralized applications (dApps).

Also Read: Blockchain Security Is Better With DeFi Defense

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Other platforms were launched a few years later, such as EOS And TRON, its main networks in the middle of the year 2018.

The historical bull market has attracted the year 2017, a lot of attention to the field, which was mostly a niche market. As the market witnessed at that time, the currency of Bitcoin from about one thousand dollars in January to approximately 20 thousand dollars by December 2017.

The price has also gone up Ethereum (ETH) from 10 dollars only to more than 1400 dollars, for a while.

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Although there was a very strong patch after that, many individuals and organizations have become aware of the capabilities of encryption.

And as more users try to transact over networks blockchain, it became clear that technical networks Distributed Log (DLT) Not able to settle transactions at the same speed as high-performance networks, such as Visa (NYSE: V) or Mastercard (NYSE: MA).

Although the platforms blockchain Fundamentally different from traditional payment processing networks, both need to provide a seamless user experience.

Also Read: Total Locked Value of TVL in DeFi Chains Exceeds $200 Billion!

Visa Executive Sets Digital Currency Interoperability Requirements

This is why the encryption space The Blockchain It is witnessing the emergence of many new projects, which can meet the requirements of scalability, in addition to the ability to handle a large number of transactions.

Networks also need blockchain also to be interoperable, between each other.

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This means that if a user is transacting with a group of tokens on a network DLT One, it must also be able to participate in asset transfers with platforms DLT the other, smoothly.

On the other hand, the chief product Global C BDC  (Central Bank Digital Currency) from Visa، Catherine Gu, that as the number of virtual currency networks continues to rise, each of them has “Unique Design Characteristics” And as individual consumers, businesses and merchants perform, transactions on a single network go down with the use of the same type of money (or digital tokens).

Joe Gu, that giant payments team Visa He believes that for digital currencies and token economies to be successful, they must provide an excellent consumer experience, as well as "Wide merchant acceptance".

This means that we need to be able to make and receive payments, “Regardless of the currency or channel” That's why I decided Visa Develop its own global payment channel.

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And while you focus Visa Mainly on payments, this shows that interoperability between different networks, including blockchains, will be necessary.

Read also: 2030: A future for the coexistence of DeFi and CBDC

Creating a decentralized standard for interoperability across chains and liquidity transfers

I've got projects like deBridge, obtained millions of dollars in funding, so that they can work to create a decentralized standard for cross-chain interoperability.

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The deBrige developers aim to enhance cross-chain functionality by allowing different DLT networks to seamlessly exchange assets and information between each other.

The development team aims deBridge, to provide important digital infrastructure, that will allow networks Blockchain big like Binance Smart Chain (BSC) And Ethereum (ETH), interacting with each other.

While that DeFi It may be a major part of the digital economy in the future, and this will require supporting cross-chain interoperability protocols, to achieve its goal of broad adoption.

It also included an investment round DeBridge adult 5.5 million dollars, which was completed in early September 2021, post from Para Fay ParaFi And Animoca Brands And Huobi Ventures And Lemniscap And Crypto.com Capital And Fundamentals Labs  And bitScale and many other investors.

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It is worth mentioning that deBridge, started during an event Chainlink Spring 2021 Hackathon Hackathon, where the team won the grand prize while competing with 140 A high potential project.

Read also: Why are Binance Smart Chain and PancakeSwap an integral part of DeFi?

In sum, the modern consumer demands diverse and accessible financial services. These requirements have made it crucial to establish the appropriate infrastructure to enable interoperability between the various blockchains and financial ecosystems.