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The smart money is in crypto because autonomous smart contracts, subject to automated validation by software run by thousands of different people, are more reli
by ETH_start 4y ago
The smart money is in crypto because autonomous smart contracts, subject to automated validation by software run by thousands of different people, are more reliable than humans acting on their own discretion, subject to their own integrity.
FTX, through its acquisitions, was technically "highly regulated", yet it collapsed. Several other centralized financial services, including Celsius and Genesis, collapsed.
In contrast, in this latest cycle, no leading DeFi applications collapsed or lost any customer funds. They operated flawlessly through all of the market turmoil.
- sagarm 4y ago> autonomous smart contracts, Are there some examples you can point to? This seems like an interesting space. > leading DeFi applications collapsed or lost any customer funds What DeFi applications do you consider leading?
- pa7x1 4y agoUniswap, Aave, RocketPool, MakerDAO, Curve... They are all built on top of Ethereum. They operate without human intervention, providing exchange facilities, lending, decentralized staking, stablecoins... The basic primitives of an automated financial system.