Day 3 of #MyJourneyToBlockchainDev🚀
Today, I dove into DeFi! Here’s the scoop on DeFi:
🔹 What is DeFi?
DeFi, or Decentralized Finance, is like a financial system without banks, middlemen, or paperwork.
It uses blockchain to create secure, transparent financial services for everyone — lending, borrowing, and trading, all run by code on the blockchain, not by institutions.
It’s like an open-source bank on the internet, powered by smart contracts 🤖💸
❄️ Crypto Winter Recap
Crypto faced a tough season through 2022-2023, with market crashes and projects struggling.
Known as the “Crypto Winter” it cooled down the hype, made the industry more resilient, and paved the way for stronger growth. 🌱
🌍 Global Wealth in Perspective
- Total global wealth: $469.8 trillion (2023)
- Bitcoin: 0.3% of that at $1.39 trillion 🪙
- Gold: holding strong at $18.23 trillion 🟡
- All other cryptos: valued at $2.6 trillion as of April 2024 — about 0.56% of the world's wealth 💹 1 reply
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