The birth of crypto was initiated by the concept of a decentralized network that proved to be way better than the existing system of banking. A decentralized finance system does not involve a mediator, and this arrangement is the most significant advantage the DeFi has over our traditional banking system. In the conventional method, you need to take the permission of the provider’s owner for any task.
Traditional banks are filled with errors. You can get your name mispronounced, the address supplied might be wrong, or any other errors, but these are eliminated with a DeFi platform. Any DeFi system is based on a robust algorithm and designed to work without any need for maintenance. The traditional monetary system requires updates at regular intervals.
Source: Etherium World News
The graph clearly shows how crypto investment has changed during the years. It is expected that the DeFi system backing crypto will reach 200 trillion USD with great ease.
What Challenges does DeFi Bring?
Nothing comes without a few challenges. DeFi has its issues, and they are yet to be addressed by the majority of the crypto community.
- The first issue that DeFi brings to the table is the lack of liquid assets. The majority of crypto exchanges cannot prevent slippage as they take a lot of time running each order that the user gives. It is because blockchain has a scalability issue that no crypto exchange can bypass.
- Volatility is a huge factor that affects the efficiency of DeFi. Due to the scalability issue of crypto, everyone is standing at the cliff, not getting an actual transaction. The slow transaction speed disrupts the chain, fluctuating the values, enhancing volatility.
- The banking system is backed by the government, whereas very few nations support the existence of crypto. There is no organization out there that provides crypto insurance. Although this is a great idea, hackers and security issues prevent people from stepping up and accepting crypto.
How does Aurix resolve these issues?
Aurix was formed to eradicate all these issues and prevent them from interfering with transactions initiated by a user. Aurix has existed since 2016 and successfully designed a platform that can revolutionize the crypto world.
- Aurix Ecosystem supports the usage of proper technology in combination with a responsive and efficient design. The capability of the platform has been enhanced, providing a variety of liquid trading pairs to its users. The user can instantly get their transactions implemented without any issue.
- Crypto has been considered volatile mainly because it causes slippage. There are plenty of users who have lost profits, but Aurix changes this scenario. Aurix has designed a system that can reduce slippage to nil by decreasing volatility.
- Aurix is a registered company, and the security of the platform is world-class. The developers worked day and night to develop an intimate and unbreakable environment so that traders can easily use Aurix without any difficulty or doubt. Hackers have successfully attacked numerous crypto exchanges, but Aurix uses many advanced algorithms to counter such attacks.
Crypto has a lot of potential, and Aurix taps all of these through its blockchain features. The Aurix Ecosystem has eliminated all the unnecessary hindrances in the path of crypto traders. The responsive and hack-proof design of Aurix is revolutionary, and at the end of the day, Aurix aims to provide a hassle-free and easy experience to its users.