Decentralized Finance, commonly just referred to as DeFi, can be a confusing field for beginners trying to figure out how it relates to financial companies, fintech, blockchain technology, cryptocurrencies, and NFT. In this post, we shall explore the mind-blowing DeFi statistics to help shine more light on how much the industry has infiltrated into our daily use cases. DeFi refers to traditional financial services and products built on unregulated, decentralized blockchain infrastructure that uses cryptocurrencies to function. The number of DeFi users worldwide is growing daily and is estimated to reach a few million people considering having an internet connection is all that is needed to access the services of DeFi. Although it is an emerging market, it constitutes a good percentage of the total crypto market.
Read more : 30+ DeFi statistics 2022: how it is weathering the crypto storm.
These DeFi statistics are a fantastic read given how Web3 has progressed in 2022. OODA has been compiling a comprehensive Web3 incident database based on our research to categorize what compromises are taking place as well as document the root causes that plague Cryptos, DeFi, NFTs, and Web3 in general. Tracking root causes provides comprehensive insights into how innovators can create robust cyber risk management approaches and reduce the potential for consequential attacks. You can access the OODA comprehensive Crypto Incident tracker here.
Read More: news.google.com
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