DeFi News

Shopify CEO bullish on DeFi

  • Shopify CEO goes bullish on DeFi.
  • Ethereum hits ATH.
  • Lutke fascinated by Ethereum smart contracts.

Shopify CEO goes bullish on DeFi

The popular e-commerce platform Shopify, is riding the crypto waves. Earlier this year, Shopify had partnered with CoinPayments. Tobi Lutke, the CEO of Shopify, has gone full bullish on DeFi.

The e-commerce boss took to Twitter to request that users should recommend viable commercial opportunities within the DeFi community that Shopify could take advantage of. Already Shopify has integrated crypto payments on its platform. Users can now shop and pay via Bitcoin, Ether and some other crypto far back 2014.

The Shopify CEO is acutely aware of the evolution going on within the payment space and wants Shopify to stay on top of the pack. Lutke said Sopify existed before cryptocurrencies and is in total conformity with the concept of decentralization. Over one million businesses worldwide depend on Shopify.

Lutke is curious about how smart contracts work and seeks to understand its deployment in ERC-20 ecosystem. The Shopify CEO is asking about how Oracles are used within the crypto industry and EIS Uniswap protocol.

ETH price hits ATH

Just yesterday, ETH price set a new all-time high of $2,143. Many analysts believe this could be directly related to the approval of EIP-1559 for London Hard Fork.  EIP-1559 would seek to reduce the soaring gas fees for ETH transactions. This time around, miners will not be able to choose transactions that have higher transaction fees. Instead, the system will allocate transactions at a flat rate and give a bonus on the transaction verification. The miners have however kicked against this proposal although it was approved by the developers.

If you’re looking to start investing in DeFi, be sure to check, also this best DeFi coins in 2021 list to get an idea of where to begin.I

This post was last modified on April 19, 2021 6:02 pm

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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