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Yes, Decentralized Finance (DeFi) has been very lucrative Basically its great because everything is client side so all you have to is make frontend websites fo

Yes, Decentralized Finance (DeFi) has been very lucrative Basically its great because everything is client side so all you have to is make frontend websites for people to interact with, and even that isn't really necessary. You just need people, with wallets, to be able to interact with your smart contract easily. The smart contract you deploy has to address a pain point for existing users, typically by consolidating multiple transactions they are doing into a single transaction. Your smart contract can take a cut of the transactions that flow through it. The ongoing overhead costs are practically non-existent. The initial costs to deploy your smart contracts can vary to be several hundred dollars at time of writing. It doesn't really matter what people think is happening in the blockchain space, or their infinitely moving goal post to reinforce their view about a lack of use case. The reality is that there is a market and there are market needs, just like any other market. The distinctions in this space is that the payment system is built in and all the users bring their own connection to the nearest servers which store all your variables. It's not different than any other financial services, just way faster and permissionless to get a foothold in.

zenyc 6y ago
Is there a way I can contact you? Interested in learning more.
- vmception 6y ago
  vmception00 [at] gmail [dot] com I don't check it, but I'll try
_laiq 6y ago
I would like to know more about the subject. Is there any way I can contact you ?
- vmception 6y ago
  vmception00 [at] gmail [dot] com I don't check it, but I'll try
LittlePeter 6y ago
So what's your business exactly? Can you be a bit more concrete what your smart contracts are, what problem they solve?
- vmception 6y ago
  My specific business? Hard to say because it changes every week as there is really just that much to build If people find getting into interest bearing products to be complicated, then you would create a contract to make it less complicated. Pooltogether.com is an example of something people like, I didnt write that. It just gives people a chance of earning more interest than they could alone, at the expense of earning no interest in the mean time. They bill it as a “no-loss lottery”, while it is really just helping people deposit into other onchain financial services. It is analogous to many people depositing into a single savings account to earn more interest than they could as an individual, and only one person getting paid all of the interest. So some people like doing that because their alternatives are non-existent. You can make a competitor to that or something slightly different and get people using it.
  - hanniabu 6y ago
    With so much noise in the space, how do you attract awareness to your contracts? And how do you manage the community?
  - doopy1 6y ago
    How do you audit the security of your contracts?
    - vmception 6y ago
      Unit tests like normal software development. I don’t post or advertise audits, third party smart contract audits are expensive and purely a marketing racket. A) users dont care B) Vulnerabilities come from closed source pricing oracles. C) users that do care understand that vulnerabilities are not really coming from the code and more so from pricing oracles D) Users can buy smart contract insurance. E) They can also buy their own smart contract audit, I at least make sure the block explorer has the code and ABI available
jdmg94 6y ago
do traditional exchanges work through smart contracts too?
- vmception 6y ago
  No they don’t
jklepatch 6y ago
DeFi is really great for entrepreneurs yes: lots of curious users, lots of money in it, lots of VCs, can build on top of other projects without permissions, and no regulations. And with crypto prices going up we are probably going to see the next DeFi bubble. If you want to build a DeFi app, You need to learn DeFi development and I have a course just on that: https://eattheblocks-pro.teachable.com/p/defi-development-mastery https://eattheblocks-pro.teachable.com/p/defi-development-ma... I also have a youtube channel for blockchain dev: https://m.youtube.com/channel/UCZM8XQjNOyG2ElPpEUtNasA https://m.youtube.com/channel/UCZM8XQjNOyG2ElPpEUtNasA
- akudha 6y ago
  For a developer who has no idea about blockchain, how hard/easy is it to get into DeFi? Also, do you think this can be a long term career?
  - vmception 6y ago
    DeFi is easy and doesn’t really involve blockchain knowledge, but your use of the code becomes blockchain knowledge. The programming is all javascript and solidity, which has syntax very similar to js. The blockchain imposes restrictions on how complex your code can be which means you are writing simpler code. More like building with legos (which is very similar to other programming where you have dependency hell, not really prevalent here because the other code-legos don't really change). Private sector has not gotten around to valuing this skillset and typically interview out of novelty and curiosity but are completely confused and ignorant about what your involvement in “blockchain” actually was, but there are enough VC backed companies that operate in this space if you wish to eventually be employed. You can also get wealthy enough not to care. Not from crypto prices rising, just from transaction volume and earning your crypto.
    - akudha 6y ago
      "just from transaction volume and earning your crypto." Could you please elaborate? Do you mean taking a cut from the transactions? Also, if I gave myself 6 months of part time study, will that be enough to get proficiency to start working on real world projects?

zenyc 6y ago

Is there a way I can contact you? Interested in learning more.

vmception 6y ago
vmception00 [at] gmail [dot] com I don't check it, but I'll try

_laiq 6y ago

I would like to know more about the subject. Is there any way I can contact you ?

vmception 6y ago
vmception00 [at] gmail [dot] com I don't check it, but I'll try

LittlePeter 6y ago

So what's your business exactly? Can you be a bit more concrete what your smart contracts are, what problem they solve?

vmception 6y ago
My specific business? Hard to say because it changes every week as there is really just that much to build If people find getting into interest bearing products to be complicated, then you would create a contract to make it less complicated. Pooltogether.com is an example of something people like, I didnt write that. It just gives people a chance of earning more interest than they could alone, at the expense of earning no interest in the mean time. They bill it as a “no-loss lottery”, while it is really just helping people deposit into other onchain financial services. It is analogous to many people depositing into a single savings account to earn more interest than they could as an individual, and only one person getting paid all of the interest. So some people like doing that because their alternatives are non-existent. You can make a competitor to that or something slightly different and get people using it.
- hanniabu 6y ago
  With so much noise in the space, how do you attract awareness to your contracts? And how do you manage the community?
- doopy1 6y ago
  How do you audit the security of your contracts?
  - vmception 6y ago
    Unit tests like normal software development. I don’t post or advertise audits, third party smart contract audits are expensive and purely a marketing racket. A) users dont care B) Vulnerabilities come from closed source pricing oracles. C) users that do care understand that vulnerabilities are not really coming from the code and more so from pricing oracles D) Users can buy smart contract insurance. E) They can also buy their own smart contract audit, I at least make sure the block explorer has the code and ABI available

jdmg94 6y ago

do traditional exchanges work through smart contracts too?

vmception 6y ago
No they don’t

jklepatch 6y ago

DeFi is really great for entrepreneurs yes: lots of curious users, lots of money in it, lots of VCs, can build on top of other projects without permissions, and no regulations. And with crypto prices going up we are probably going to see the next DeFi bubble. If you want to build a DeFi app, You need to learn DeFi development and I have a course just on that: https://eattheblocks-pro.teachable.com/p/defi-development-mastery https://eattheblocks-pro.teachable.com/p/defi-development-ma... I also have a youtube channel for blockchain dev: https://m.youtube.com/channel/UCZM8XQjNOyG2ElPpEUtNasA https://m.youtube.com/channel/UCZM8XQjNOyG2ElPpEUtNasA

akudha 6y ago
For a developer who has no idea about blockchain, how hard/easy is it to get into DeFi? Also, do you think this can be a long term career?
- vmception 6y ago
  DeFi is easy and doesn’t really involve blockchain knowledge, but your use of the code becomes blockchain knowledge. The programming is all javascript and solidity, which has syntax very similar to js. The blockchain imposes restrictions on how complex your code can be which means you are writing simpler code. More like building with legos (which is very similar to other programming where you have dependency hell, not really prevalent here because the other code-legos don't really change). Private sector has not gotten around to valuing this skillset and typically interview out of novelty and curiosity but are completely confused and ignorant about what your involvement in “blockchain” actually was, but there are enough VC backed companies that operate in this space if you wish to eventually be employed. You can also get wealthy enough not to care. Not from crypto prices rising, just from transaction volume and earning your crypto.
  - akudha 6y ago
    "just from transaction volume and earning your crypto." Could you please elaborate? Do you mean taking a cut from the transactions? Also, if I gave myself 6 months of part time study, will that be enough to get proficiency to start working on real world projects?