Stock Groups

How Blockchain Oracles Power the World of DeFi By CoinQuora


How Blockchain Oracles Power the World of DeFi

Back in the day when technology was scarce, banks were a viable solution in finance. Banks were founded in Assyria in India and Sumeria in 2000 BC. These banks provided grain loans and credit to farmers and traders. A few millennia later, banks evolved from a hero figure that gave opportunities for people to thrive, into a villain that caused the global financial crisis of 2007 – 2008, which has been the most serious crisis in finance since the Great Depression.

People began to look into the cause of this crisis and came up with the solution: centralization. Though it brings benefits, it also poses many risks like data breaches, or worse — an economic collapse. For this reason, was created. Many believe that the easter egg “Chancellor on brink of second bailout for banks” that was written on Bitcoin’s genesis block was a call to move from centralization to the use of blockchain and cryptocurrency.

Bitcoin was the first to introduce us to decentralization. Although blockchain and cryptocurrency are decentralized by nature, they have also managed to adopt centralized mechanics. But maybe those da…

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. Instead, they are determined by market makers. As such, the prices might not reflect market conditions and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.