What is DEFIX ?
Last updated
Was this helpful?
Last updated
Was this helpful?
DEFIX - Decentralized Finance Execution - is an execution platform for DeFi and DeFi-related arisen problems.
While Blockchain and DeFi is the future, DEFIX team believe that CeFi (Centralized Finance) is still the core of financial market. And that a combination of CeFi, DeFi and Simplification will help bring DeFi much closer to the masses.
Whitepaper: https://defix.uk/docs/DEFIX_Whitepaper_v1.2.PDF
DeFi is the future of finance and the world is becoming increasingly reliant on digital financial solutions. Nowadays, people are beginning to turn their attention towards DeFi solutions like banks, payment processors, clearing houses, and more to address their requirements. However, current DeFi’s available solutions are revealing many weaknesses such as complication, low speed, unreasonable high fees, different blockchain barriers and easy to be hacked.
With DEFIX (DFX), every product detail launched in its platform carefully selected and heartfully designed to be more Simple, top Secured and more User-Friendly.
Meanwhile, DEFIX (DFX) never forgets its pioneering role on the adoption of building its platform on Binance Smart Chain to ensure Faster Transaction Speed and Lower Transaction Fees.
DEFIX Platform (DFX) aims to simplify DeFi and DeFi-related arisen problems, bring DeFi products and services much more closer to users around the world.
Interoperability Binance Smart Chain is built with a dual chain architecture, which makes it possible for users to enjoy the flexibility of transferring assets from one blockchain to another. The interoperability of Binance Smart Chain offers users the opportunity of accessing a vast ecosystem with a myriad of use cases. Interoperability is one of the key features held in high esteem by DeFi proponents, and Binance Smart Chain is at the forefront of making this possible.
Cheap Transactions Transaction fees - also known as blockchain fees - refer to the fee users pay when they conduct a transaction on a blockchain. This fee is collected by miners or validators who ensure that the blockchain only records and processes valid transactions. Most DeFi applications involve myriads of transactions, which incur transaction fees at every step. For this reason, blockchain fees are important factors to consider before choosing a blockchain protocol.
Binance Smart Chain and Ethereum are two of the most common blockchains of choice for DeFi projects. However, when it comes to blockchain fees, Binance Smart Chain is substantially more cost-effective than Ethereum.
Transaction Speed Blockchain transactions require a number of confirmations before a transaction can be completely processed. The essence of confirmations is to avoid the risk of double-spending. The longer the confirmation time, the longer the time it takes for a transaction to be completed.
Avoiding unnecessary delays in transactions is another factor DeFi developers have to consider before choosing a blockchain.
Ethereum has been handicapped by scalability challenges, which has resulted in congestions and longer waiting times for transactions to complete.
Binance Smart Chain was specifically designed to enhance scalability in blockchains with high throughput for easy implementation of smart contracts to build scalable decentralized applications. Binance Smart Chain provides faster and cheaper transactions than most blockchains and allows developers to port from Ethereum to Binance Smart Chain with ease.