Bitcoin

DeFi’s first major study: an in-depth rethinking of the entire industry

Do you want to learn everything about DeFi, inside and out? Can you handle it?

With its annual growth to date of more than 15 times in total value locked in, and more than $11 billion committed to the protocols, Decentralised Finance (DeFi) has become a mainstay in the crypto-currency industry and a completely new industry in its own right. Meanwhile, its form of concrete market has not been defined with substantial confidence.

One of the main shortcomings of DeFi’s research to date has been its focus on individual projects or simple metrics, such as finance. A systematic overview that captures the essence of the industry and describes it professionally in depth is lacking. To address this, Cointelegraph Consulting Golden Profit and Byzantine Solutions conducted fundamental research on decentralised finance, from zero to complex effects and existential risks.

Redefine 2020: A Primer. Where Decentralization Meets Finance is a landmark study that aims to significantly raise the bar for future research on DeFi. It sets a precedent for an examination of the entire market, from central properties to complex effects between protocols and emerging dynamics.

The paper maps the entire industry through common conceptual patterns, recurring ideas, typical problems inherent in the decentralised environment and approaches to address them. The highlight of Redefine 2020 is the side-by-side comparison of traditional finance and its obstacles with the natural properties that decentralised finance can exploit to build a better and more resilient system with much greater accessibility and less friction.

Redefine 2020 is written by economists and industry professionals, uses professional terminology and assumes that readers are familiar with the concepts of blockchains and smart contracts, as well as financial instruments and their applications.