In the early days of DeFi, the ethereum blockchain was the prefered place to create a project for so many reasons but mostly because, unlike Bitcoin's blockchain, the Ethereum blockchain offered developers a wonderful strategy for creating DeFi projects. To simply put, it was easier and cheaper to create a DeFi project on the Ethereum blockchain.
This is was one of the beauties of Ethereum blockchain but as time goes one, the loads and heavy transaction on the Eth blockchain has slowed it down and this is why most devs look in the direction of newer blockchains like Algorand and Solana that currently have records for being one of the fastest blockchains and can carry out massive loads of transactions per sec making them appear better than Ethereum.
The high transaction fees of the ethereum blockchain is also a problem that I believe no one desires and this is also a reason why I feel other blockchains with fast transaction processing ability regardless of how massive the transactions are and low transactions fees would take over the industry soon.
I believe the Hive blockchain is one of the new generation blockchain and has the right qualities to be adopted globally for DeFi projects and many other great projects out there suffering from the over use of the Ethereum blockchain.
I may be missing something and maybe it has already been tried and didn't work, but I anticipate the Hive blockchain's first DeFi project. It would be a thing of joy for the users of the platform and would change entirely how we see the blockchain.
There are already great projects built on Hive like the NFT showroom, play to earn games etc and other successful ones affliated with Hive like Cub and Polycub but wouldn't it be cool to have the first native DeFi project of the blockchain? I'mjust think out loud and it sure would be a big deal. I really anticipate that and would like to know if it has already been tried and if are some challenges on the Hive blockchain that wouldn't make DeFi a thing for Hive.
I think we already have this on Hive engine. Check tribaldex.com Diesel pools.
Posted Using LeoFinance Beta
Thank you so much. I just checked and its brilliant. I had no idea it's been done already, I think we should talk more about them. It's amazing.
No marketing. As usual.
Posted Using LeoFinance Beta
Hive already has two DeFi platforms: DLease and TribalDex.
Posted using LeoFinance Mobile
Thank you so much. I had no idea and I just checked them out.
Thank you so much, I had no idea they existed already and I just checked them out. It's amazing. I agree, the community makes a project worthy but a solid tech would gain recognition sooner or later, well it would still need some support to see the light of day.