❓WHY SLY?
Filling the Void
There has been a significant paradigm shift in the way people think about financial transactions in the altcoin marketplaces. However, even if the idea of decentralizing Bitcoin has been there from the beginning, the DeFi market boom in 2020 showed that it can be done not only in principle but in fact.
It has been nearly every day since the second quarter of 2020 that the USD Total Value Locked (DeFi) set an all-time high. Skepticism about DeFi space is common, but the steadily growing number of people who have locked up their money implies that this is a trend worth watching.
Transparency and immutability go hand in hand when considering the underlying ideals and beliefs of blockchain technology.
As long as blockchain technology exists, the general public will continue to prioritize immutability as their primary concern while engaging in DeFi activities.When offered the choice between remaining anonymous and exposing their riches, customers choose to stay anonymous.
There is a definite desire for anonymity in the DeFi arena, based on the challenges that have arisen. By looking at how visitors to the BitMEX website plummeted from 5.3 million in August of the year before to only 3.4 million by October of the following year, it's evident that traders want to maintain their anonymity while doing business, and this trend has persisted ever since.
In order to participate in DeFi projects in a less transparent and anonymous manner using today's available technologies, users must either deal with friction or engage with centralized organizations.
Individuals should have the right to privacy, according to SLY. Privacy should not be something you have to "opt in" to, but rather something you may choose to "opt out" of at any time.
Last updated