The decentralized finance (DeFi) ecosystem has grown exponentially during the past few years. Beginning with the launch of Ethereum (ETH) in mid-2015, application developers across the globe began to write smart contracts to support a wide range of decentralized applications (dApps). A few years later, other platforms such as EOS and TRON launched their mainnets during mid-2018. Before their launch, the historic bull market of 2017 brought a lot of attention to the space, which was mostly a niche market. At that time, the market saw Bitcoin surge from around $1,000 in January to nearly $20,000 by December 2017 and the Ethereum (ETH) price skyrocketed from just $10 to briefly over $1,400. Although there was a very strong correction afterwards, many more individuals and organizations became aware of the potential of crypto. As more users attempted to transact across blockchain networks, it became clear that distributed ledger technology (DLT) networks were just not able to settle transactions as quickly as high-performing networks like Visa (NYSE: V) or Mastercard (NYSE: MA). Although blockchain platforms are fundamentally different from more traditional payment processing networks, both need to offer a seamless user experience. Visa Executive Identifies Requirement for Digital Currency Interoperability That’s why the crypto and blockchain space is witnessing many new projects emerge that can address scalability requirements. In...
