The future of finance is decentralized. Striving to facilitate that prognosis, decentralized finance — or DeFi — is quickly shaping into an alluring prospect for investors and companies alike. Looking to harness this decentralized ideal, rivals to the Ethereum-centric sector are feeling the fear of missing out and leveraging their own blockchains in order to gain dominance. Reaching an early climax this year, DeFi breached $1 billion in locked assets. For the Ethereum ecosystem, this stood as a significant boon, drastically increasing its value proposition — and leading competitors to turn their heads.
With the Ethereum ecosystem intrinsically linked to DeFi, it has become the number one pit stop for developers of decentralized apps. As such, Ethereum boasts some of the best and brightest. Spotting this success, Ethereum’s rivals are entering the fray. While this indicates the DeFi sector is set to grow even further, it also means investors will require a multichain solution.
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