In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$103,088.00
0.37%$2,341.16
6.35%$2.37
2.67%$671.96
7.63%$172.09
5.85%$0.999993
0.01%$0.207492
6.09%$0.783239
1.46%$0.264002
3.08%$2,338.83
6.44%$4.02
1.14%$103,024.00
0.34%$16.07
1.45%$23.39
4.72%$2,812.65
6.55%$0.299295
1.85%$0.00001513
5.60%$0.202587
4.08%$24.77
7.18%$414.86
-1.17%$3.30
3.57%$8.69
-1.95%$1.00
0.01%$103.60
8.48%$4.95
9.96%$2,340.64
6.41%$310.24
3.42%$2,496.01
6.37%$4.59
1.45%$0.00001244
13.29%$0.735492
9.01%$1.002
0.18%$103,161.00
0.43%$1.00
0.02%$30.30
-0.15%$6.49
5.21%$429.76
1.40%$2.94
5.76%$5.63
0.99%$55.11
4.90%$212.55
3.89%$1.015
2.71%$1.051
0.04%$19.23
4.02%$1.00
0.00%$5.48
4.53%$0.101545
2.50%$14.34
2.53%$22.51
3.29%$0.105691
6.80%$33.48
2.01%$5.01
5.71%$0.03009656
5.02%$0.768943
1.58%$0.254796
2.05%$4.90
6.68%$0.837434
8.21%$0.372455
9.35%$1.003
0.17%$103,116.00
0.90%$1.17
0.01%$3.04
3.23%$0.233303
3.13%$3.03
10.94%$4.36
0.06%$0.587926
2.37%$0.379853
4.45%$0.00002154
6.36%$4.52
3.09%$0.553721
14.95%$1.16
6.97%$1.015
4.82%$0.99918
0.10%$1,742.62
2.13%$2,345.61
6.62%$180.42
5.71%$11.25
2.50%$95.17
-0.14%$1.36
11.41%$0.878453
2.64%$2,437.17
6.47%$0.02024466
2.40%$1.28
1.31%$1.93
-4.17%$0.247703
6.63%$0.761778
8.62%$0.669248
7.01%$0.077086
0.74%$4.40
-13.05%$11.96
5.80%$2,651.34
6.33%$0.114579
10.18%$1.00
0.14%$102,763.00
0.44%$0.767358
0.86%$0.00010051
8.28%$672.56
7.77%$0.999827
0.01%$1.034
6.97%$221.80
5.83%$0.908021
7.14%$1.00
0.04%$0.01859168
5.69%$2,491.15
6.46%$190.38
5.89%$0.0196706
8.53%$0.01381879
-1.82%$103,098.00
0.39%$2.87
1.22%$0.832537
5.53%$41.70
4.20%$0.338005
5.83%$3,338.67
1.28%$14.20
-3.44%$0.805702
13.66%$0.00000081
6.51%$2.47
8.78%$3,342.96
1.48%$102,211.00
0.06%$1.00
0.02%$0.241258
3.67%$0.618795
-0.92%$0.077537
4.92%$102,231.00
-0.03%$2,451.21
6.47%$22.31
2.41%$3.97
-0.19%$0.120531
0.46%$0.442133
6.49%$42.74
1.77%$0.187051
21.59%$0.357465
7.42%$2.04
6.28%$0.63637
6.56%$0.695949
9.38%$0.997902
0.03%$2,401.40
5.67%$0.998858
0.04%$3.85
5.63%$0.01831591
0.80%$0.73989
0.90%$0.01039401
1.51%$1.11
-1.10%$0.479831
3.64%$0.00602491
1.06%$111.00
0.02%$0.500215
6.17%$0.173425
14.00%$0.692721
7.63%$1.53
10.09%$8.17
2.82%$18.86
-4.60%$0.207207
6.13%$0.648649
10.39%$102,942.00
0.31%$0.51759
8.97%$0.202286
1.25%$2,343.04
6.47%$2,340.10
6.39%$0.999347
0.12%$2,488.68
6.55%$4.12
7.51%$0.00002459
5.78%$0.999991
0.02%$102,824.00
0.07%$2,415.19
6.69%$0.189171
9.98%$6.63
4.31%$0.065076
-0.21%$0.092337
7.69%$2.89
4.48%$0.0088481
2.32%$99,998.00
0.42%$0.999993
0.01%$0.100103
8.18%$1.64
2.15%$0.04630061
3.28%$1.79
-6.01%$0.00000044
2.04%$2,342.16
6.51%$0.00602432
2.38%$0.157901
0.78%$0.255185
2.26%$0.630713
5.99%$45.71
3.68%$1.096
0.72%$0.994735
-0.83%$0.00000103
3.56%$1.52
2.29%$0.412935
1.63%$102,982.00
1.53%$0.35145
9.30%$0.853323
9.58%$0.00006995
9.67%$0.00376133
17.65%$0.00444859
3.51%$0.0376786
3.23%$0.385541
2.75%$0.18388
3.52%$0.01920967
3.24%$0.368106
59.69%$1.002
0.17%$32.91
-0.98%$0.860264
3.55%$2,338.49
6.56%$21.61
0.42%$1.46
9.89%$1.00
0.04%$0.347598
-0.94%$131.84
6.01%$1.24
12.67%$2,476.69
6.39%$4.12
22.23%$3.02
8.95%$0.00000163
9.14%$0.738914
2.29%$2,338.18
7.00%$102,827.00
0.21%$1.002
0.38%$24.77
7.61%$0.263647
6.57%$23.33
4.35%$2,567.18
6.16%$1.001
0.11%$1.00
0.01%$0.00355672
4.78%$0.226974
3.09%$0.539675
1.28%$2,549.91
6.50%$1.099
0.13%$0.03537403
1.71%$18.15
5.59%$24.04
2.76%$2,336.79
6.23%$0.587718
4.00%$2,524.14
6.48%$0.286802
3.19%$0.999856
0.03%$0.99944
-0.05%$2,341.40
6.85%$24.77
7.60%$3.43
0.78%$0.121128
12.62%$3,327.42
-0.12%$0.04011517
4.19%$0.00
14.59%$0.01425516
5.16%$0.00269784
8.81%Reading
Sergey Nazarov, founder of the oracle network Chainlink, thinks the DeFi ecosystem could swell to $1 trillion next year.
Asked about his predictions for crypto during a panel at this year’s Ethereal Virtual Summit, Nazarov said that “the value locked in DeFiDeFi will have another zero next to it in the next year. So if it's at $70 billion now, it gets to $700 billion. Maybe it gets to $1 trillion. And ignoring it will become impossible."
Decentralized finance, or DeFi, is an umbrella term for non-custodial protocols—essentially chunks of code that handle your money for you, as opposed to bankers or investment managers. When people talk about the value “locked in” or “locked up” in DeFi, they’re talking about the amount of money users are entrusting to these systems.
The current number is around $80 billion, according to data from the analytics site DeFi Pulse. That’s up from around $1 billion at this time last year.
Published today, Chainlink’s new whitepaper reveals the startup’s plans for a "big leap forward" in the evolution of the hybrid smart contracts that co-founder Sergey Nazarov is convinced will come to define the blockchain industry. “Hybrid smart contracts are about combining blockchain smart contract application capabilities, and the off-chain world’s proof and data and computations,” Nazarov told Decrypt last week, prior to the paper’s publication. “This is a big leap forward because it redefi...
Popular DeFi projects like AAVE, MakerDAO, and Uniswap have led the charge, reflecting broader trends across the rest of the cryptocurrency market (the total value of the market hit $2 trillion last month).
That Nazarov is shilling for DeFi shouldn’t come as a surprise, given how deeply he’s invested in the space: Chainlink provides data to many of these applications through oracles, which are tools that funnel external (off-chain) data onto a blockchain. They allow programs to absorb information without sacrificing the decentralized aspect.
The Chainlink network’s native token, $LINK, is currently the 11th most valuable cryptocurrency.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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