Ethereum 2.0 launch is making quite a buzz for various different reasons including the final date of launch. Where there is appreciation there is also some heavy criticism against the Ethereum 2.0 plan.
While on the other hand, the crypto industry is the space where finance and tech overlap each other, the tremendous benefits of decentralized blockchain coupled with finance could drastically revolutionize the ecosystem. So, it seems that decentralized finance (DeFi) is becoming a promising venture for the Ethereum ecosystem.
Ethereum 2.0 launch anticipated
Recently, the founder of ConsenSys, Joseph Lubin talked about the upcoming launch of Ethereum 2.0, the challenges faced by it related to its rollout, and about the Ethereum ecosystem and DeFi. He emphasized that the narrative of the DeFi and the narrative of the Ethereum ecosystem are simultaneously valid.
While discussing whether DeFi would be committing the same mistake which the traditional system made. Lubin stated that DeFi being the open programmable financial system enables the programmers to directly touch the live financial rails and that program value tokens moving alongside those rails, there would be many obstacles. However, after getting ahold of it and building it out in layers, it would be exceptionally empowering.
According to the DeFi Pulse data, after crossing the mark of $1billion with reference to total value locked in decentralized finance (DeFi), the numbers have now plummeted to $600 million.
Lately, the decentralized finance (DeFi) has been under the scanner after several commentators highlighted that within the ecosystem, levels of centralization has been rising.
Centrifuge’s Token Designer, Cassidy Daly recently stated that within the decentralized finance (DeFi) ecosystem, there have been many projects that failed to be decentralized.