Future Challenges for DeFi, from the desk of the CEO of FTX

Future Challenges for DeFi
  • Sam Fried had discussed in detail the launch of his product
  • He has mentioned how the product of BSC was not a brand new one but just a modification to make it more useful and helpful to the users. 
  • Sam talked about what the future has in store for DeFi products and how it has a very dire need to grow

The CEO of FTX, a major crypto exchange, SBF, aka Sam Bankman Fried, provided a view from the side on BSC (Binance Smart Chain). He also talked about the yield of pharming on the 8th. He made a clear note about his several undertakings in knowing about Decentralized Finances (DeFi). The words of Mr. Sam were that certain groups of people always outperform another group or factors when it concerns certain blockchains or products. These people have most in them who rely more on what is best at a particular time than using certain products in expressing their thoughts and beliefs. 

The impact of the modified changes

About six months after the mishap of SushiSwap, which included both the retirement of the founder and the start of the project. A very new chef termed as the ‘Pancake Swap’ of Binance. A huge number of Decentralized Finance users started to flood into this platform. This happened to become one of the largest bases for cryptocurrency users. CZ leads Binance. CZ leading the handle of Binance and its rise stands as a perfect example of how the chains and products are not that holy for many customers. However, in SNS, we witnessed the good and bad of the Binance Smart Chain. Mr. Sam did not make this discussion of FTX. According to him, these were some very intentional steps taken by the BSC, how instead of a new chain, they created a new version of ETH. He also mentioned that teMetamask was set up instead of creating a brand new wallet. 

From the desk of Mr. Sam

- Advertisement -

Mr. Sam mentioned that if Binance Smart chain were considered a full blockchain tech, it would be an unfortunate outcome for BSC. He clarified that it was not something that BSC was aiming to do. He said that he had not created any brand new product; instead, he had just modified a product, making it cheaper and easier to flash out into the market. He clearly talked about the long-run desirable products in the markets, which are basically based on DeFi and practical at the same time. A point was also made on how building more products in the coming future would become inevitable on the blockchain. He says how the need for DeFi’s products should grow. 

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Our Partners

cryptoheroes

RocketFuel