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DeFiChain

DeFiChain

A blockchain dedicated to fast, intelligent and transparent decentralized financial services, accessible by everyone.

OverviewStructured DataIssuesContributors

Contents

defichain.com
defichain.com/dex
Is a
Cryptocurrency
Cryptocurrency
Company
Company
Product
Product
Organization
Organization

Company attributes

Industry
Currency exchange
Currency exchange
Decentralized Finance
Decentralized Finance
Cryptocurrency
Cryptocurrency
Decentralized cryptocurrency exchange
Decentralized cryptocurrency exchange
Cryptocurrency exchange
Cryptocurrency exchange
Blockchain
Blockchain
Cryptocurrency wallet
Cryptocurrency wallet
Smart contract
Smart contract
...
Location
Switzerland
Switzerland
B2X
B2B
B2B
Founder
Julian Hosp
Julian Hosp
Date Incorporated
2019
Number of Employees (Ranges)
10,001+
Email Address
partner@defichain.com
Founded Date
2020
Competitors
Kine Protocol
Kine Protocol
dYdX
dYdX
Cake DeFi
Cake DeFi
Uniswap
Uniswap
Business Model
Transaction processing / marketplace
Stock Symbol
DFI
Exchange
Bittrex
Bittrex
0
Uniswap
Uniswap
0
LBank
LBank
FMFW.io
FMFW.io
BTCEX
BTCEX
Biswap
Biswap
Bithumb
Bithumb
Bitrue
Bitrue
0
...
Board of Directors
Julian Hosp
Julian Hosp
CTO
U-Zyn Chua
U-Zyn Chua

Cryptocurrency attributes

Consensus Mechanism
Proof-of-work
Proof-of-work
Hash Function
SHA-256
SHA-256
Ticker Symbol
WTRX
DFI
Maximum Supply
1,200,000,000
Block Explorer URL
tronscan.org
trxplorer.io
explorer.defichain.io
bscscan.com/token/0x3...2c83387b50
trx.tokenview.com/en
Announcement URL
t.me/defiblockchain

Other attributes

Blog
blog.defichain.com
Circulating Supply
101,680,000
523,099,868
300,511,840
CoinGecko ID
defichain0
Community Forum
medium.com/@Tronfoundation
blog.defichain.com
Company Operating Status
Active
Cryptocurrency Symbol
DFI
WTRX
Invested in
Cake DeFi
Cake DeFi
Medium URL
medium.com/@Tronfoundation
Partner Organizations
CoinMarketCap
CoinMarketCap
Contract Number (US Government)
0x8Fc8f8269ebca376D046Ce292dC7eaC40c8D358A
Source Code
github.com/tronproto.../java-tron
etherscan.io/token/0x...40c8d358a
Token Standard
ERC-200
BEP-200
Total Supply
101,676,078,190
588,631,840
1,200,000,000
Wallet
metamask.io
shop.privacypros.io
trustwallet.com
metamask.io

DeFiChain (DFI) is a blockchain platform built with the mission of maximizing the full potential of DeFi within the Bitcoin (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to problems like scalability, security and decentralization.

The project was launched in the fall of 2019 with the aim of offering financial services that commercial banks typically provide (borrowing, lending, investing, keeping funds). Yet there is a key difference between DeFiChain and a banking network: DeFiChain is a decentralized platform. This provides a number of advantages: authorities and entities cannot control the network and anyone has the right to participate in the launch of the network protocol. All actions support the entire network and participants in the process receive DFI tokens.

The DeFiChain platform ensures fast, transparent and decentralized financial services. The project is built on Bitcoin as a software fork and is tied to the Bitcoin blockchain using a Merkle root every few blocks. DeFiChain transactions are non-Turing complete, which makes them fast and smooth, with low gas costs and a reduced risk of smart contract errors.

DeFiChain’s initial functions and products include: lending, token wrapping, pricing oracles, exchanges, asset tokenization, distribution of dividends, and more.

Who Are the Founders of DeFiChain?

The DeFiChain Foundation was established in November 2019 and owns all DeFiChain (DFI) trademarks and domains. The organization is responsible for developing the ecosystem, forging new partnerships, guiding the development of tools for partners, and overseeing DFI funds. At the origins of the project are two key figures: Julian Hosp and U-Zyn Chua.

Dr. Julian Hosp is chairman and CEO of the DeFiChain Foundation. He also co-founded Cake DeFi. Hosp is an influential and authoritative specialist in the crypto industry, with a large following around the world.

U-Zyn Chua, fellow co-founder of Cake DeFi, serves as chief technical officer (CTO) and researcher at DeFiChain. Chua is also chief engineer at Zynesis and a blockchain advisor to the Singapore government.

What Makes DeFiChain Unique?

There are two towering blockchains in the crypto industry: Bitcoin (BTC) and Ethereum (ETH), both of which have inspired the emergence of decentralized finance. However, these early innovations have their limitations: Bitcoin has a long-standing reputation for security, yet can only support basic BTC transactions. As for Ethereum, developers can create applications to perform more complex transactions, yet the network has problems with scalability.

This is where DeFiChain (DFI) comes in, aiming to tackle challenges like scalability, security and fair governance. The solutions it proposes are as follows:

Building a blockchain platform for DeFi use cases, which is based upon Bitcoin in order to ensure a high level of security.

Using a hybrid proof of stake (PoS)-proof of work (PoW) consensus mechanism for network operation.

The benefits of DeFiChain therefore include:

  • Supporting a wide range of cryptoeconomic financial transactions.
  • Offering high throughput for all transactions.
  • Achieving a high level of security through its hybrid consensus mechanism and the fact that transactions are non-Turing complete.
  • Offering developers the ability to create DeFi apps on one chain.
  • Providing a reliable and decentralized governance system.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

'People have been participating without understanding the risks': Here's what to know about cryptocurrency-based DeFi

Taylor Locke

https://www.cnbc.com/2021/06/18/whats-defi-crypto-based-decentralized-finance-explained.html

Web

June 18, 2021

DeFiChain DFI Token explained in detail

https://www.youtube.com/watch?v=IGCgUSdiDF0

Web

July 7, 2020

DeFiChain DFI Token explained in detail

https://www.youtube.com/watch?v=IGCgUSdiDF0

Web

July 7, 2020

Home - DeFiChain Explained

https://defichain-explained.com/en/

Web

Watch out for DeFiChain Easter Eggs this week and win up to 200 DFI FREE! | Medium

DeFi Blockchain

https://medium.com/@defiblockchain/watch-out-for-defichain-easter-eggs-this-week-and-win-up-to-200-dfi-free-7dd8b59d6c6b?source=search_post---------0-------------------------------

Web

March 29, 2021

References

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